Jay Olshonsky, SIOR, FRICS and President of NAI Global, a leading global commercial real estate brokerage firm, today announced its new Minnesota office, NAI Legacy, serving the greater Minneapolis/St. Paul markets including Rochester, St. Cloud and Western Wisconsin.
Led by 30-veteran and CEO/President Duane H. Lund, NAI Legacy offers brokerage services with expertise in industrial, NNN and 1031 Exchanges, as well as asset management and property management. NAI Legacy features an entrepreneurial operating platform for commercial real estate professionals and provides strategic capital to expand their existing brokerage or management operations. Lund said he is primarily focused on consolidating quality real estate service companies and individuals that own or control significant real estate service contracts.
“Over the next 60 days, we will be announcing our initial brokerage and property management partners,” said Duane Lund, “we are in final negotiations with several groups and are excited about the potential size and depth of what will be our collective NAI Legacy team.”
In addition to traditional brokerage and property management services, NAI Legacy will offer real estate services for a wide range of unique tax and capital driven investment alternatives including 1031 Exchanges, Opportunity Zones, DST’s and Bonus Depreciation.
Prior to forming NAI Legacy, Lund was the President of Exchange Realty Inc., a private owner of industrial real estate and several 1031 DST assets. Earlier, he was CEO of Stonehaven Realty Trust (AMEX:RPP) and prior to that he was a Founding Partner for First Industrial Realty Trust Inc. (NYSE:FR). He was also a partner with The Shidler Group, a San Francisco-based private real estate investment company. Collectively, Lund has completed over $2 billion of tax-deferred real estate deals throughout the United States. Prior to his real estate career, Lund was a CPA with KPMG Peat Marwick.