Tom Burton, Senior Managing Director and Chief Investment Officer for ABR Capital Partners and Charlie Fenwick, Managing Director of Cushman & Wakefield, created the idea of Charm City Interns five years ago with a singular mission: showcase the outstanding real estate career opportunities available to young professionals in the Baltimore metropolitan area, and convince them to relocate to the region, or remain here after college graduation.
During the first year, five commercial real estate companies that employed 10 interns participated in the program. Since then, the program has ballooned to 25 firms which hosted more than 50 young professionals this summer. The growth has been organic and multiple industries are now participating including construction management, law and financial services.
The college-aged students spent their days working for firms such as Ayers Saint Gross, CBRE, Columbia National Real Estate Finance, MAG Partners, MCB Real Estate, Merritt Properties and St. John Properties. In addition, during the summer, the group of interns gathered at social events (such as an Orioles game) or participated in a real estate project tour and presentation.
Last month, Charm City Interns enjoyed a luncheon at Cushman & Wakefield’s Inner Harbor offices, which included educational presentations and pointed career advice from CBRE, Chesapeake Search Partners, Transwestern, Cushman & Wakefield and Merritt Properties followed by a tour of Harborplace led by MCB Real Estate.
“What can anyone tell me about Harborplace?” asked MCB’s Lou Kousouris during his presentation showing the future development plans for the mixed-use waterfront project.
Johnny Black, Chesapeake Search Partners, addressing the interns at Cushman & Wakefield’s downtown offices.
When no one raised their hand or uttered a word, it was clear that the iconic and ground-breaking project’s best days were in its past. Kousouris subsequently led a tour of the pavilions and outlined its history and relevance to Baltimore’s renaissance in the early 1980s.
“It is a familiar story and we wanted to change the narrative,” said Fenwick. “College students, fresh from graduating from the Ivy League and prominent universities, pursue jobs in Chicago, New York City, and other large metropolitan areas where they perceive career opportunities to be more abundant. It is ironic that many move back home to Baltimore to raise their families when they turn 30, but we were trying to stop the talent drain at its source and export them back home.”
Fenwick relayed a story told by a recent college graduate who interviewed with 75 different companies before landing a commercial real estate position out-of-town, underlining the intense competition.
“Baltimore remains a dynamic place to work, both in the commercial real estate and other sectors, but it is essential to keep locally-grown talent here, as well as attract young people from outside the area,” he added. “Every growing company needs a continued influx of highly-educated, motivated, and passionate young professionals to maintain vibrancy and implement new ideas. Charm City Interns is beginning to move the needle and we believe, like our young interns, that its future is extremely bright. Our job is to utilize the 10 weeks each summer and open some eyes about the opportunities here and we are starting to see results.”