Congrats to Building Careers’ very own Carly Glova on being awarded a Business Women of the Year 2023!
Awards and Recognition
Here is our selection of 50 achievers in the CRE space that are under age 40. Read their stories to see why we picked them.
When Carly Glova decided to establish a recruiting firm serving the commercial real estate industry, she knew there would be obstacles. Glova had not previously worked in a recruiting position or owned a business, and she faced the adversity of creating a niche in the historically male-dominated CRE industry. Seeing the benefits of her idea, however, Glova pressed on and in 2015, after an almost 10-year career in CRE finance, she founded executive search and recruiting firm Building Careers LLC, which aims to serve as a responsive, industry-focused and personalized hiring solution. Since its inception, Building Careers has experienced a nearly 600% increase in revenue and has doubled its headcount. As president of the company, Glova oversees business development, client and candidate management, manages recruiting and sourcing resources, and executes general business operations. Glova has made a mark on the Southern California market and has become a go-to source for hiring in the space, which has become an even more important function since the Great Resignation left the candidate pool extremely small. Glova speaks on panels and in forums regarding the hiring landscape and she has consulted on the disconnect between employer and employee motivations and how the gap can be closed. She first became interested in CRE during college, where she majored in finance and wrote her honors college thesis on CRE analysis and trends. She began her career on the East Coast with Duff & Phelps in its real estate valuation and consulting practice before moving into the private equity side of the real estate business with Lubert-Adler Real Estate Funds. Attracted by the robust commercial real estate industry in Southern California, she moved to San Diego where she worked for BioMed Realty Trust before founding Building Careers.
To view the full lineup for the 50 Under 40 award, visit the link below.
Recent life sciences real estate reports paint a picture of overwhelming demand and a great opportunity for new developers. The rise of life sciences real estate reports show a record $26B of venture capital funding poured into the sector in the first six months of 2021, according to Newmark, setting loose scores of well-capitalized startups seeking lab space. CBRE found that the 15.6M SF of speculative lab construction underway nationwide is nearly 30% leased, signaling developers can’t keep up. The overall vacancy rate for the top 12 biotech clusters, per CBRE, is just 5.6%.
But the reality is a select few developers have been able to cash in. In addition to difficulties finding talent, and the special requirements and expertise required to build lab spaces, the cost of such projects is prohibitive and the risk of failure is much higher than traditional office buildings.
As other smaller firms seek to expand or break into life sciences, they may run into similar problems. Newmark Associate Director of Capital Markets Research Daniel Littman said costs are a key barrier: Even office-to-lab conversions often come in at $100-$150 per SF for base building costs, and then $250-$300 per SF for a tenant retrofit. And that’s if you can acquire assets; especially in top markets, available assets are few and far between, and there is a lot of money chasing the space.
Harborth underscored that in addition to the difficulty finding talent, getting expertise in different markets is another hurdle. Real estate is such a local business, and even for firms seeking more national exposure, there’s a need to know local players. Transplant talent can’t instantly operate at the same level in a new market.
Carly Glova, president of commercial real estate talent firm Building Careers, said that the drive for talent has led some firms to bend their criteria, prioritizing life sciences experience over someone who is a perfect fit for a particular role, and sweetening employment offers, allowing staff to work remotely, increasing compensation packages or allowing for equity opportunities.
Due to the rise of life sciences real estate, there’s also a shortage of experienced architects and designers in the field.
April 15th, 2020 marked five years of Building Careers serving as an adviser, connector, and recruiting and search solution partner for the Southern California commercial real estate industry, and we couldn’t be prouder! Working with talented individuals and thriving companies is what drives us and we have been humbled and inspired by the things you have accomplished. Thank you for letting us be a part of your lives in such a tremendous industry with such genuine people. Stay amazing, San Diego!
Cheers to 5 years!
-Carly and Julia
Happy New Year from this motley crew! Greg Bowman and Tommy Gibbs are going to be a hard act to follow, but Preston Cavignac and I are looking forward to leading the NAIOP San Diego Developing Leaders Board into 2019!! Hope to see you at an event this year!
While studying finance at Penn State, Glova became enamored of the dynamic and tangible world of commercial real estate, and wrote her honors college thesis on commercial real estate analysis and trends. After nearly 10 years in commercial real estate finance, Glova founded an executive search firm serving the CRE industry. As president and executive recruiter of Building Careers, LLC, she uses her experience in the real estate industry to help employers recruit and retain top-tier talent. Glova previously worked as an associate, real estate finance, for BioMed Realty Trust.
Glova serves on the NAIOP San Diego Developing Leaders Council with a focus on university outreach through individual events and the NAIOP University Challenge. She also serves as the vice president of membership for the chapter’s Toastmasters Club. NAIOP set out to discover the inspiration and motivation driving this entrepreneur’s success.
NAIOP: What are some of the most rewarding aspects of your job?
Glova: The most rewarding aspect of my job is being able to assist employees on the path to their dream career while creating a connection with employers who are also inspired to succeed.
NAIOP: How has being a member of NAIOP helped your career?
Glova: Being a NAIOP member throughout my entire professional career has been the single most helpful element in growing my career and starting my business. When I initially hit a career crossroads, I reached out to my NAIOP network to learn more about their roles and companies. Having conversations with my peers and mentors regarding their ideal career paths led me to an interesting conclusion about my own. I discovered that understanding peoples’ motivations and providing the path and connections for them to get there is where I wanted to take my career. This NAIOP-assisted discovery was the catalyst to the founding of my recruiting firm.
NAIOP: What advice would you offer to other young professionals in commercial real estate?
Glova: My most important career lesson was realizing how essential and amazing my network is. Nurture, expand, exercise your network and resources and you will be pleasantly surprised by the results.
NAIOP: Who has been an inspiring or influential figure in your life?
Glova: My father, a fellow entrepreneur, has been an influential figure throughout my entire life. He has instilled values in me that gave me the courage to start and run a successful business.
Learn more about our President, Carly Glova, in this feature highlighted on NAIOP’s National Market Share Blog: Developing Leader Spotlight: The CRE Connector
Originally posted on June 16, 2017 by Marie Ruff at NAIOP.org
Congratulations to our President, Carly Glova for being named one of San Diego Daily Transcript’s Top 40 Professionals under 40!
The associated article highlights that Glova believes her age is an asset in her recruiting, since she’s young enough to know how difficult the job market can be right out of college, and experienced enough to know what businesses want. “It’s great to bring my perspective to the table,” she said. “My clients appreciate my understanding of their business and appreciate the level of folks I’m targeting.”
A special thanks to NAIOP SD for the recognition and CREW SD for the nomination! https://www.facebook.com/naiopsd/posts/1541421415890197
A few of my experiences with mentorship:
“All of my mentors to this point have played an essential role in creating and growing my business. Through these relationships I have gained introductions to their companies’ hiring processes, which has generated business for me. This was never the result of a direct ask but rather from the relationship that was established between us. I have also become more skilled at high-level networking through these relationships.”
Proud to be a member of CREW San Diego, whose members who were essential in creating this year’s Crew Network Industry Research Committee white paper. This year’s white paper even includes an interview and quote from our own Carly Glova. Read more here about CREW’s research into Closing the Gap.