Boston Properties’ Adam Frazier Snags REBNY “Most Promising” Award
Daniel Geiger March 15, 2012, 9:30 a.m.
Adam Frazier is REBNY’s most promising commercial salesperson of the year.
“It is with great pride that we welcome Adam into the Circle of Winners group,” Steven Spinola, president of REBNY, said in a statement. “He came very highly recommended by not only representatives from his own company but from happy, and extremely impressed, clients.”
Mr. Frazier, who is 35, is a young leasing executive at the large office REIT Boston Properties, which owns several trophy buildings in Manhattan.
Mr. Frazier was recruited by the company, whose New York operations are overseen by the Boston Properties executive Robert Selsam, to focus on leasing and development of 250 West 55th Street, an office tower the company is in the process of raising on Eighth Avenue, and also 740 Eighth Avenue, a commercial development it is still planning.
“I’ve been pretty focused on working with the Boston Properties team to fill 250 West 55th Street,” Mr. Frazier said, noting that 740 Eighth Avenue is still in the planning phase.
Mr. Frazier was involved in the deal last year to have the law firm Morrison Foerster anchor the roughly one million-square-foot building with a nearly 200,000-square-foot lease.
He was selected as REBNY’s winner of the award by the real estate brokerage executive Bob Knakal, who is chairman of the sales brokerage Massey Knakal, and Bill Montana, a leasing executive at Studley. Mr. Knakal and Mr. Montana are on REBNY’s board of governors and had been charged with determining a winner.
Mr. Frazier will be allowed to serve on the board for a year as an reward for the win.
“I’ve really tried to take on an active role in the community through REBNY so this is a great opportunity,” Mr. Frazier said.
Before working at Boston Properties, Mr. Frazier was a leasing executive at the REIT Edens & Avant and helped the company lease and develop a large 600,000-square-foot shopping center called the Mossaic District outside of Washington, D.C. Before that he was a stock trader for Salomon Smith Barney. He was drawn to real estate he said because it’s an asset that, unlike stocks, allows an investor to invest work and capital directly into it in order to create value.
“It’s an asset class that you could make a difference on and be opportunistic,” Mr. Frazier said. “You can bring value to a certain asset. It’s exciting.”