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Andrew Wright isn't inclined to idle. He didn't wait around too long at his first job for advanced positions to open, so he started Franklin Street Financial Partners in 2006.
Instead of waiting for the economy to rebound, he has led the charge to grow the diversified real estate services firm's revenue to $2 million through the first half of this year, already topping last year. Now he's preparing to move the Tampa-based company to new office space, and he and his wife just had their second daughter.
He hasn't even turned 30, yet he's mature enough not to be a know-it-all. Franklin Street's staff of 27 includes a balance of younger professionals and seasoned veterans, with five leaders under 40, all of whom work together to share information and serve a broad range of property owners and investors.
“In any business, real estate or otherwise, nothing is static,” says Wright, who holds the titles of CEO and managing partner and oversees two other offices in Atlanta and Fort Lauderdale. “Too much of either side is more of a detriment than anything else.”
Wright grew up in a real estate family in Columbus, Ohio, and says he thought about becoming a lawyer on his way to earning his degree in finance and business statistics from Miami University in Oxford, Ohio. He went to work for Marcus & Millichap in Tampa, making a strong impression during his job interview — on the Westchase golf course, hitting a hole in one.
During his time as an investment sales broker at Marcus & Millichap, Wright was credited with roughly 80 transactions totaling $750 million in value. He was named as a director in the firm's National Multi-Housing Group, an honor reserved only for top agents, but that wasn't enough.
“It was never in my mind to be a career broker,” he says. “It was always a stepping stone to something else.”
Besides brokerage, Franklin Street offers capital asset, property management and insurance services, with packages specifically tailored to clients' needs. It leverages key contacts with lenders, workout specialists and private capital sources, allowing it to get deals done when other firm's aren't able to.
“We have the complete toolbox,” Wright says, adding that the company's business models allows any one segment to prevail when others are lagging. “The worst parts will always tell you the best parts.”
Rather than simply reaping the rewards from making multimillion-dollar deals and stashing them in personal accounts, Wright says he is putting profits back toward the company's continued growth. This summer it will move into more prestigious office space, at the Westshore 500 building overlooking Interstate 275.
Not one for flashy cars or watches, Wright says he is content spending time with his wife and children. Though he may be losing sleep lately helping take care of a newborn, he doesn't have to worry about his business: “I think we're doing well in this environment.”
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