Universal Commercial Profiled in Memphis Business Journal

Date: Friday, June 29, 2012, 5:00am CDT - Last Modified: Thursday, June 28, 2012, 12:20pm CDT

Michael Sheffield

Staff writer- Memphis Business Journal

A look inside five minority-owned Memphis businesses

Darrell Cobbins remembers his grandfather working six days a week as a residential real estate broker. Cobbins’ grandfather started his company in 1959, and Cobbins’ mother, as well as Cobbins and his brother Donnell, grew up around the business. While all three eventually got into real estate, Darrell Cobbins took it a step further by launching Universal Commercial in 2007.

His brother and mother joined the company soon after.“I’d say 90 percent of our business comes from people we’ve gotten to know over the years,” Cobbins says. “In Memphis, people are predisposed to do business with people they know.”  While that atmosphere may seem inviting if you happen to know a lot of people with a lot of real estate, Cobbins says those relationships also can prevent business opportunities for companies looking to break through those bonds.

Cobbins began his career with Cushman & Wakefield Commercial Advisors, where he learned the philosophy of “working with whatever came through the door.”

“You just don’t show up and somebody hands you their business,” he says. “The smallest real estate transaction could represent hundreds of thousands of dollars, and people are trusting you with a big part of their business.”

Universal Commercial currently has four brokers, but Cobbins wants to grow to 10. The company is beginning to work in the nonprofit sector after starting in the private sector. Until the economy consistently improves, Cobbins sees more competition for fewer deals around the city. And while the familiar business practices are loosening up a little, he says the community can truly grow if it continues to evolve.  “We need to speed it up,” Cobbins says. “There needs to be more examples of complete success through inclusion. The more inclusive we can be from an economic standpoint, a lot of the other issues in the city will take care of themselves.”

Memphis Business Quarterly Recognizes Universal Commercial in 2012 "Power Players" List

The city’s Commercial Real Estate (CRE) market is constantly in flux. There is always a business considering relocating from one part of the city to another and new businesses looking to buy for a new location. CRE professionals are the ones businesses look to to help them find that perfect location for their needs. We asked: When it’s time for your office, retail, or industrial deal, who do you want brokering it?

J. KEVIN ADAMS
CEO, Memphis office of CB Richard Ellis (CBRE). Graduated from Southern Methodist University in 1983. Largest office real estate firm in the city. CBRE represents significant office space downtown, including The Tower at Peabody Place, and East Memphis’ Crescent Center and Thousand Oaks Business Center. Has been principal of company for 22 years. Serves on the Board of Directors of Magna Bank, Memphis Brooks Museum of Art, Memphis Leadership Academy, and Promise Academy of Memphis.

DARRELL T. COBBINS
President and Principal Broker, Universal Commercial Real Estate, LLC. B.A., Rhodes College; M.B.A., University of Memphis; Executive Study, Harvard University. Certified Commercial Investment Member Institute; Mid-South Planning & Zoning Institute. Former President of Universal Commercial; Former VP with Commercial Advisors, LLC. “Top 40 under 40,” Memphis Business Journal. Member, Urban Land Institute, U.S. Green Building Council. Chairman, MLGW Board of Commissioners. The Leadership Academy Board Member.

LAWRENCE “LARRY” JENSEN
President and  CEO, Cushman & Wakefield – Commercial Advisors. Represents and advises families, corporations, and institutions on real estate. Instrumental in Smith & Nephew’s acquisition of their orthopaedics headquarters building in Goodlett Farms. Other clients have included FedEx, ServiceMaster, and AutoZone. Honors include 2005 Commercial Broker of the Year and 2008 Office Broker of the Year. Former President, Memphis Tomorrow. Serves on the board of the Shelby Farms Park Conservancy and is past Chairman of the Greater Memphis Chamber.

LEWIS K. MCKEE JR.
Partner and broker, McKee and McFarland. As a full-service real estate firm, actively engaged in the acquisition, development, management, and marketing of commercial and industrial properties, particularly in Memphis and the Mid-South. Has represented corporate clients including Prudential Insurance Company of America, Northwestern Mutual Life Insurance Company, Holly Farms Corporation, and Tyson Foods. Is a licensed real estate broker in Tennessee, Arkansas, Mississippi, and Missouri. Began career with Trammell Crow Company.

EDWARD “EDDIE” SAIG
President, NAI Saig Company, a full-service industrial, retail, and office brokerage firm. Has business degree from University of Arkansas. Earned Pinnacle Award as the Highest Producing Commercial Real Estate Broker. Recently received the NAI Gold Club Award. Served as president of Memphis Chapter of Society of Industrial and Office Realtors (SIOR). Has SIOR and Counselor of Real Estate (CRE) designations. Member, Lambda Alpha National Real Estate Chapter.

CHARLES H. SEVIER
Chief Manager, Crump Commercial, LLC / CORFAC International. B.S., Christian Brothers College. Company has won six annual top industrial transaction awards from CORFAC International, the organization of independently owned commercial real estate firms. Projects have included a 600,000 square-foot lease for BP Oil, and four truck terminals for Tri-State Thermo King. Member, Society of Industrial and Office Realtors and Certified Commercial Investment Member. Member of Catholic Church of the Incarnation.

MARY SINGER
President and co-founder, Commercial Realty Group. B.A., Real Estate, University of Memphis. Regional Director, Women’s Business Enterprise Council South. Member, City of Memphis & Shelby County Industrial Development Board, National Association of Women Business Owners, Memphis Area Association of Realtors Commercial Council, and Nominating Committee, Girl Scouts Heart of the South. Founding Member, Memphis CREW. Former Vice Chair, Regionalism, Greater Memphis Chamber. Received “50 Women Who Make a Difference,” Memphis Woman.

JOE L. STEFFNER
President and CEO, Grubb & Ellis | Memphis. MS, Real Estate Development, University of Memphis; MBA, University of Memphis; BA, University of Tennessee. Received Memphis Area Association of Realtors’ Pinnacle Award and Presidential Award for Distinctive Service. National Chairman, Council of Presidents, Society of Industrial and Office Realtors; President, Board of Trustees, Children’s Museum of Memphis; Board of Governors, UT Alumni Association; President, Carnival Memphis; Board of Directors, Boys and Girls Clubs of Memphis. Graduate, Leadership Memphis.

W. RUSSELL WESTLAKE
Managing Director, Memphis office of Jones Lang LaSalle. Experienced in tenant representation, including Harrah’s Entertainment, Memphis Light, Gas & Water, FedEx Freight’s corporate headquarters, Ford & Harrison, and American Express. Multiple recipient of MAAR Commercial Council’s Pinnacle Awards, including the 2011 President’s Club. Recieved Top Gun Award from Jones Lang LaSalle in 2009. Served on CoStar Office Advisory Board, and board member of Boys & Girls Club of Greater Memphis.

DANIEL F. WILKINSON
Chairman, Colliers Wilkinson & Snowden, involved in over $700 million of investment property and another $300 million of general real estate since 1960. Awarded the Lambda Alpha International Excellence in Real Estate Lifetime Achievement Award. Has earned the Pinnacle Award for Broker of the Year in Commercial Real Estate, and recognized as the Highest Producing Commercial Real Estate Broker by the Memphis Area Association of Realtors. Broker of the Year 2002-2004.http://www.mbqmemphis.com/MBQ-Inside-Memphis-Business/May-2011/Real-Estate-Commercial-Brokers/