Regional
per spectives
COLLEGE FRIENDS REUNITE AS CRE BROKERS
Damien Madsen and Greg Morrison have known each other for the last 25 years, back
to their college days when they sold books door to door. Both went on to work in commercial real estate but never worked together, until now.
Madsen, a local veteran of commercial development and brokerage, has joined
Orlando-based Morrison Commercial Real Estate, which Morrison launched just last
year. Both have more than two decades experience, yet it was those days of selling
books under a brutal summer sun that forged a lifelong partnership.
“It just felt right to go into business with him,” Madsen says of his roommate at the
University of Central Florida. “It is sometimes more fun to build a business than to go
to one that has already been built by someone else.”
Morrison, who was previously executive director of GVA Advantis in Orlando before
starting his own boutique firm, says he wants to build a business that will be more responsive to clients than larger firms, in both landlord and tenant representation. He
says bringing Madsen on board will be key to executing those plans.
“I trust Damien,” Morrison says, recalling how they earned roughly $1,000 a week
during their book-selling days in
1983. “It’s very challenging work,
but you understand what kind of
work ethic and character someone
has in those times.”
Madsen has completed nearly
three million sf of transactions valued at $750 million throughout his
career, which has included senior
and executive positions with companies such as Harbert Realty Services and Flagler Development Co.
He is credited with starting South-Park Center, a nine-building office
complex totaling 1. 3 million sf that
is recognized as one of the state’s most successful business parks.
His most recent position, as senior partner with Broad Street Partners, ended
abruptly this past summer when the company’s managing director, Steve Walsh, committed suicide. A lawsuit was brought against Walsh’s estate shortly thereafter, accusing
the multifamily developer of stealing millions of dollars from investors.
Madsen declines to discuss his association with the defunct firm, though he does say
that the experience prompted him to get back into brokerage. He looked at a number
of local companies before reconnecting with Morrison. “I saw this as a good opportunity to build a business with Greg,” he says.
Despite current economic conditions, the partners are confident that their platform
will be highly competitive and formidable in the Orlando market. “I think the timing
for this couldn’t be better,” Madsen says. “It’s a bad time right now, but it can’t be bad
forever.”—Carl Cronan
for the RECORD
KENNEDY AT WORK ON NEXT
BUILDING AT WESTGATE
Kissimmee—Roger B. Kennedy Inc. is
building the eight-story Westgate Town
Center Building 4000 here for Westgate
Westgate Town Center
Resorts Ltd. The $27.5-million project is
slated for completion in December. The
Orlando-based general contractor and
construction manager has built more than
a dozen projects for Westgate totaling
$225 million. It recently completed the six-story Building 6000 at Westgate Town
Center, at a cost of $11.7 million.
Morrison and Madsen met as UCF students.
STADIUM RENOVATION APPROVED
Orlando—Rhodes+Brito Architects has
been given city council approval to design
the $160-million renovation of the Florida
Citrus Bowl stadium here. The locally
based firm is partnering with HTNB Architecture Inc., a leading designer of sports
venues. The renovated Citrus Bowl will
include 75,000 seats, a 40,000-sf banquet
hall and new restrooms, locker rooms and
concession areas.
STEVENS CONSTRUCTION EXPANDS
Maitland—Stevens Construction Inc. has
opened an office here at 555 Winderley
Place. The office is part of a three-year
goal by the Fort Myers-based company to
expand its geographical area to Central
Florida, where it has several contracts
under way.
