Usually, the summer JEWISHcolorado Real Estate & Construction (RECN) event sees a drop in attendance. After all, it is summer with vacations and competing events. But more than 80 members of the Colorado real estate universe packed the lobby of the Staenberg-Loup Jewish Community Center the evening of July 25. No surprise, perhaps, because it was the first event hosted by the new RECN Chair, Stuart Zall.
“My goal as chair is to build on the successes of [former Board Chair] Rob [Kaufmann] and [former RECN chair Mark [Sidell],” said Zall. “I want to grow RECN and have it continue to be the place for tier-one real estate and construction decision makers to meet new and upcoming talent.”
Zall did his part to pack the room. He put the word out to a 250-person breakfast group network he runs called “Tin People.” (Think of the 1987 Danny DeVito movie “Tin Men” about rival aluminum siding salesmen.)
“When they find out JEWISHcolorado is having an event, they like to come,” Zall said. “They find value in the networking opportunities, and in a world where the market can be tough, showing up face-to-face can generate business.”
Undoubtedly, the featured speaker of the evening—Michael Staenberg—had a lot to do with the enthusiastic turnout.
“The opportunity to meet people like Michael and even get a minute with him is not available to a 22-year-old kid who is just starting out,” said Zall. “Here you can come up to him and ask to meet him, shake hands, and expand your network.”
RECN’s Eric Kessler began the evening by pointing out that since JEWISHcolorado launched RECN less than two years ago, more than 1,000 professionals have participated in events. When Kessler asked everyone in the room to take a minute, find someone they didn’t know, and put coffee on the calendar, the decibel level in the room shot up as people made new connections.
RECN’s Jason Pomerantz introduced Staenberg, the founder, president, and creative leader of The Staenberg Group. Headquartered in St. Louis, Missouri, The Staenberg Group is a real estate and development firm focused on acquiring, designing, leasing, as well as managing entertainment and retail centers in cities throughout the U.S. Throughout his career, Staenberg has assembled a portfolio of more than 200 developments encompassing more than 45 million square feet of quality entertainment and retail space.
Staenberg is a noted patron of the arts and a philanthropist. He has donated more than $100 million to charity.
When Stuart Zall asked Staenberg the first question for the night—“You came from modest beginnings in Omaha, so what inspired you?”—Staenberg took control of the evening and held the audience captive with wisdom and wit—and some very practical advice.
Michael Staenberg
Staenberg started the evening with a favorite story about his father. Young Michael wanted a red coat to show his support of Big Red Nebraska Football. His father gave him the opportunity to earn it, hiring him at 25 cents an hour for 40 hours. At the end of the week, Staenberg’s father put 10 one-dollar bills in front of his son and pulled $2.00 out.
‘What does the Torah teach us about Tzedekah?” he asked his son. “We are a 20 percent family.”
Staenberg’s father died when his son was just 13 years old.
“My father taught me we were fortunate people,” Staenberg told his audience. “He was a real estate developer in Omaha, and everyone there loved him. He was the inspiration for who I am today.”
Staenberg recounted how he got his start. In 1977, he started doing deals with McDonalds with zero restaurant experience. That led to a meeting with Sam Walton and the opportunity to develop 300 Walmart stores.
“After every deal, I say, ‘What could I have done better, what are the lessons learned?’” Staenberg said. “If you get knocked down, learn from it.”
One success created another because Staenberg followed rules that he learned from his father and multiple life mentors—show up on time, return every phone call, email, or text within 24 hours, write thank-you notes, pay attention to details, be persistent, your word is your bond, and if someone is mentoring you, pay attention.
Repeatedly, Staenberg emphasized how mentors influenced his life. His high school principal pulled him out of class because he was flunking everything (“I was number 401 in a class of 400,” he said.) When the principal found out Staenberg was working two jobs besides attending school, he offered to pay him to sit in his office and study. Staenberg graduated at the top of his class because that principal “saved my life.”
“I am the luckiest guy,” Staenberg said. “I should not be here.”
While Staenberg is well known for building shopping centers, he pointed out that he has done about 80 buildings for nonprofits. These days, he has turned his attention to refurbishing and renovating JCC buildings in cities around the country, including Omaha, Denver, Tucson, Kansas City, and Scottsdale.
“I grew up at the JCC,” he said. “People there took an interest in me, and it was the only safe place for me to be. It was my home away from home.”
As he spoke to the crowd, Staenberg sat beneath a large piece of art by James Michael Smith. It was just one of an estimated 3,000 pieces of art that Staenberg has donated to nonprofits. A noted philanthropist, Staenberg continues to practice the lessons he learned from his father and the red coat.
“You will never go broke giving money away,” he said. “I give because it is the right thing to do. I give 80% to Jewish causes. I have never made a bad investment giving away money.”