18 — August 2024 — Thriving Under 40 — M id A tlantic Real Estate Journal
www.marej.com
T hriving U nder 40 Lance Bergstein, Lincoln Equities Racing Ahead in Real Estate: A CEO’s Drive to Outpace Industry Expectations
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is exactly what drives me every day. He taught me to be comfort- able in the uncomfortable and to think abstractly which when applied correct are an immense competitive advantage. What impact has social media/networking had on your career? Truthfully, I need to work on my professional usage of social media. It provides a unique platform to digitally brand yourself. You control that nar- rative but also have the ability to reach so many people both in and out of your immediate network. Real Estate is a busi- ness of real assets and with that comes the importance of people. Your network is one of the most valuable assets you have in your career. It can drive deal flow, capital, advice and growth. What were some of your early goals and did anything happen to change them?
When I joined Lincoln Eq- uities, my main goal was to grow the volume of deals the business could do annually while maintain the quality and entrepreneurial approach to identifying opportunities. It required more access to capital and the monetization of pieces of the portfolio to cre- ate additional liquidity. That goal has not changed and it is one where the goal line can continually be moved. What unique qualities and or personality do you feel makes you most suc- cessful in your profession? I think it is really important to be genuine and accessible. I speak very freely and some- times a bit to my detriment. I pride myself on my transpar- ency and directness. While it is a taste to be acquired by some, you will always know where I stand on something. continued on page 19
hat is your great- est professional accomplishment?
Lance Bergstein Chief Executive Officer Lincoln Equities Years with company/firm: 7 Years in field: 7 Years in real estate industry: 9
We had a unique life science deal that was scheduled to close in March of 2020. After the initial COVID restrictions, our lender and equity partner for the deal backed out. I was able to replace the equity and subsequently the lender and close on the transaction. This deal will likely be one of the highest returning deals of my career. I aspire to beat it. What is your most notable project, deal or transaction? A 886,000 s/f build to suit warehouse for UPS in the port in Bayonne. We purchased the old military ocean termi- nal non-contingent. The site required a site plan approval as well as bringing in 1.2 million cubic yards of clean fill to raise the site to meet post Sandy FEMA standards. While not official, it is an-
ticipated that UPS may barge trucks into the boroughs given the lease permitted exclusive use of the wharf on the penin- sula. This could be the begin- ning of the marine highway on the Hudson. How do you contribute to your company and/or the industry? I think my background in corporate finance has helped the company structure deals a bit more creatively. I bring an extensive network to be utilized by any member of
my organization. I think this has really helped in increas- ing deal volume along with our access to a broad range of LP Equity. Who or what has been the strongest influence in your career? Unequivocally, my father. Long before I was even in the real estate business, his creativ- ity, work ethic, and true real- ization of the American Dream rubbed off on me. The bar was set extraordinarily high to ex- ceed his success level but that
BELLEVILLE, NEW JERSEY 07109 681 MAIN STREET
NEW CONSTRUCTION FOR LEASE | BUILDING 1 91,746 SF | BUILDING 2 112,661 SF
DECEMBER 2024* ESTIMATED SUBSTANTIAL COMPLETION
*Date subject to change
FOR MORE INFORMATION OR TO ARRANGE A TOUR CONTACT:
THOMAS F. MONAHAN VICE CHAIRMAN O +1 201 712 5610 C +1 973 568 6614 THOMAS.MONAHAN@CBRE.COM
LARRY SCHIFFENHAUS EXECUTIVE VICE PRESIDENT O +1 201 712 5809 C +1 201 532 5092 LARRY.SCHIFFENHAUS@CBRE.COM
BRIAN GOLDEN EXECUTIVE VICE PRESIDENT O +1 201 712 5607 C +1 732 284 8451 BRIAN.GOLDEN@CBRE.COM
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Building A - View 03 - West
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