Wayne R. Gioioso, Jr. began his real estate career in 1984. In 1987 Wayne founded Mid-Atlantic Properties. The company’s substantial portfolio includes: office, retail, multi-family, parking, storage, industrial land and co-working space. Over the course of his 40-year real estate career, Wayne has earned numerous awards and honors including: winning the Baltimore Business Journal’s “Top 40 Under 40” award, being named a finalist for Ernst & Young’s “Real Estate Entrepreneur of the Year” award, receiving The St. Ignatius Award from St. Ignatius Parish and Fr. Bill Watters, and the prestigious Kelley Medal award for distinguished alumni from his alma mater, Loyola Blakefield. Wayne is actively involved in the community.

For several years he served on the Baltimore County Board of Appeals. Wayne has served or is currently serving on the boards of: Cristo Rey Jesuit High School, Loyola Blakefield High School, Notre Dame Preparatory School, Johns Hopkins-External Affairs, GB Charities, Maryland State Fairgrounds, Baltimore County Economic Development Commission, Loyola University-Board of Sponsors and Signal 13 Foundation.

We stand out from competitors in many ways. The first is the speed at which we get deals done. Since we do everything in-house – we move very quickly.

Wayne’s daughter, Lily Gioioso Fulco, joined MIDAP in January 2017 and currently serves as the company’s Director of Leasing. In this role, Lily oversees all facets and stages of leasing the MIDAP portfolio, from contacting prospective tenants to negotiating lease terms and overseeing tenant improvements. Lily also helps to maintain the MIDAP website and all social media accounts including Costar, Loopnet, Facebook and Linkedin. Born and raised in Baltimore, Lily graduated from Notre Dame Preparatory School in 2012 and then from Loyola University Maryland in 2016, where she earned her Bachelor’s Degree in Communications with a specialization in Advertising and Public Relations. In addition to Lily, four other members of the Gioioso family are actively involved in the company, continuing its strong family-driven culture.

Can you provide a snapshot of your company?

Mid-Atlantic Properties, Inc. is a privately owned investment, development and management company. Established in 1987, Mid-Atlantic Properties is a prominent owner of office, retail, multi-family, parking, storage, industrial land and co-working space in the Mid-Atlantic region. We concentrate on purchasing “value-add” properties to be long-term owners and we aim to always prioritize our tenants’ satisfaction.

We run all aspects of the company in-house, from leasing and property management to construction, accounting and legal, which allows us to be extraordinarily flexible and creative with our tenants. If you like one of our spaces, we will make a fair deal to get you into our building and once you are a Mid-Atlantic Properties tenant, we will do whatever we can to accommodate any growth or downsizing needs.

Who are the other members of your team?

We have an incredible team who is dedicated to making sure the needs of our tenants are met. Our Vice President, Ben Dabrowski, directs building engineering, capital improvement projects and our property management team, which is comprised of Jason Weber (Senior Property Manager), Patrick Milmoe and Bennett Gioioso (Assistant Property Managers).

Lily Gioioso Fulco (Director of Leasing), John Fulco (Senior Leasing Manager), and Reilly Wilson (Leasing Associate) run our Leasing Department. Alex Stern (General Counsel) and Kaylie Gioioso-Stern (In-House Counsel) lead our legal department, and Sue Mistretta (Chief Financial Officer) and Maria Wilson (Controller) run the accounting department. Rounding out the team is Shawntaye Tisdale (One Office Manager), who manages One Office, our coworking space in Towson, and Eliza Milmoe (Executive Assistant). We also have a dedicated field staff, including building engineers and maintenance personnel.

Are you seeing any interesting deal structures or incentives becoming more common in today’s market?

We are seeing a return to office, and with that a renewed demand for quality space. A few years ago, there was a major demand for flexible lease terms while tenants navigated their space needs through the pandemic. It took tenants a few years to understand what type of space they wanted, how to use it, and how the space could best serve their employees. Now that we are a few years removed from COVID, there seems to be more of a willingness to commit to longer term deals in exchange for more tenant improvement dollars.

Construction costs can still be high, but longer terms can help tenants minimize out of pocket costs. We have also seen the demand shifting away from predominantly open spaces. Tenants are building out more private offices than we were seeing a few years ago. Incentives are always important, but each tenant is different. Some care more about the economics of their lease, while others care more about ensuring the space is built out exactly the way they want it, even if it costs more. We try to mold our deals around what works best for the specific wants and needs of each tenant.

Please highlight some of your recent deals?

Lib’s Grill recently signed a lease at Court Towers, 210 W. Pennsylvania Avenue in Towson: The increase in Towson apartment developments and the growing neighborhood attracted them to the area. We think this will transform not only Court Towers but downtown Towson at large, by adding an exciting new high-end restaurant to the area for those who live and work here.

Another recent deal we completed was with Rifkin Weiner Livingston, a law firm that is moving from the city to our building at 502 Washington Avenue in Towson and leasing about 6,000 square feet of space. We are starting to see more businesses leave the city and move to Towson and we’re excited to have Rifkin Weiner Livingston join the neighborhood!

What makes your approach different from competitors?

We stand out from competitors in many ways. The first is the speed at which we get deals done. Since we do everything in-house – we move very quickly. We often have prospects come to us who need to be in a new space within 30 days, and we make it happen.

Our flexible approach to leasing also sets us apart – if you like one of our spaces, we will make a fair deal to get you into our building. Because our portfolio contains many buildings across neighboring zip codes, we are easily able to accommodate tenants’ expansion or downsizing needs. Flexibility is key to letting our tenants know they are the main priority and Mid-Atlantic Properties is the best in the business at providing this flexibility.

The post Q&A with Wayne Gioioso, President, and Lily Gioioso Fulco, Director of Leasing at Mid-Atlantic Properties appeared first on citybiz.

This contant was orignally distributed by citybiz. Blockchain Registration, Verification & Enhancement provided by NewsRamp™. The source URL for this press release is Q&A with Wayne Gioioso, President, and Lily Gioioso Fulco, Director of Leasing at Mid-Atlantic Properties.