Lester Dean joined Dean Realty Co. in May of 2008 as the companies Chairman, President and CEO. The eldest son of Lester Dean Sr., the companies founder, Lester grew up working with his father clearing the mine that is now the companies Downtown Underground, a 1.2 million square foot subterranean complex. He was involved in his fathers commercial real estate pursuits assembling acreage to build Cambridge Business Park in Kansas and Missouri, the Downtown Industrial Park in Midtown Kansas City, Missouri as well as other development tracts remaining in the portfolio today. Dean Realty Co.’s portfolio exceeds more than two million square feet of flex, office, industrial, and subterranean commercial real estate space. In 1989, Lester Dean Jr. was the youngest person in North America to receive his CCIM designation. His largest project took him to the British West Indies, Caribbean Islands, in 1999 to commence building infrastructure for a 1,000 acre series of five-star resorts and related retail and commercial development. He has over 25 years of experience in commercial real estate development, management, planning, and consultation.
(1) How did it come to pass that the son of the founder of Dean Realty Co. would end up running the real estate company 50 years after its inception?
My position as the company’s president feels very natural. Prior to my real estate career outside of the family business, I carried the dynamite and worked with the blasting crew excavating America’s first underground of its kind. I accompanied my father on weekends making offers and assembling what is today Cambridge Business Park. The 150-acre assemblage required the purchase of over 350 homes and spanned several decades. From operating heavy Caterpillar equipment before I could drive a car to frequently riding in the car with my father reading out loud real estate contracts and leases, there was, in looking back, more than osmosis. It was boot camp and training. He knew that, intuitively, I did, too!
(2) How do your philosophies differ or mirror those of your father’s?
Dad passed away in 2005 within just days of my family and I having one of his favorite meals together, Kentucky Fried Chicken. I had by then developed a deep respect for him and his experiences. His story is really incredible, and through the years he inspired me in many ways. We certainly share degrees of tenacity and a bit of stubbornness in a positive sense. Neither of us gave up easily! I look for ways to get things done and concentrate more on healthy and productive relationships. For me it takes a combination of good people and creative ideas.
(3) What’s been happening in the past year and a half since you took over?
So many great things have happened in the last 18 months, and a range of things accomplished. I feel very fortunate to be able to work with the most outstanding and talented group of people that I know, the Dean Team. We have developed a unified culture, one that stands for delivering an exceptional experience to our tenants, great attention to details, from marketing to the condition and appearance of our properties, our relationships with others in the industry and our community neighbors. One of the most challenging things is to change a culture. So, what’s happening everyday is a culture sharing and shift, in a clear way, company-wide.
(4) What do you envision in the company’s future?
As for the future, we have to be clear on our vision. In developing a high level of team functioning, we already know we have come far with our shared company culture. That’s the people side. We are working on our vision and master plans for some incredible pieces of real estate. Cambridge, for example, is probably thought of as more of an industrial park. I see something different, an outstanding mixed-use development with a much higher image featuring components of office, retail, hotel, restaurants and a residential mix. The views, wooded areas, access and visibility from 360 degrees offers a very unique opportunity. Incorporating the historic Imperial Brewery building and brick mule barn will really be extraordinary. There needs to be a clear and cohesive plan communicated to the market place. Another example is the plans we are developing for Solar Business Park. It will be a technologically advanced underground and vertically integrated project. The underground component is 4.5 million square feet, and the entire surface is in excess of 130 acres in the heart of the city. There are few opportunities like this to plan in three dimensions. There is a lot to be excited about.
(5) With the college basketball season about to begin, what team do you cheer for and how far do you think they can go in the NCAA Tournament?
With the diversity of collegiate backgrounds in our office, I think it’s best to say I will cheer for the underdog and that the best team will go the farthest!