Rockville, MD – As the CEO and owner of South Street Steaks, Jamie Rash grew the quick-service restaurant featuring authentic Philadelphia cheesesteaks to a three-store enterprise in Maryland with annual revenue of $1.50 million and 45 employees.
When he sold South Street Steaks last May, he knew he wanted to work full-time in the commercial real estate industry. That’s because while leading South Street Steaks, what he enjoyed most was the real estate aspect of the business – the site selection process, including market analysis, as well as lease negotiations and construction management.
His desire to stay in the commercial real estate sector has landed him at Scheer Partners, the leading provider of fully integrated commercial real estate services in the Washington and Baltimore metropolitan areas, where Rash recently came on board as an associate.
For Scheer Partners, Rash will work with the company’s team on various services that the firm offers, including acquisitions, brokerage, and development, as well as providing business development, consulting, financial analysis and market research.
“I’m really excited about this opportunity with Scheer Partners,” Rash says. “My father has a real estate company in the Philadelphia area, and he taught me a lot about that industry as I watched his firm grow over the years. I’m looking forward to learning from everyone at Scheer Partners about all the intricacies of the commercial real estate market, while also applying my skills in finance and operations to existing and future clients projects. I didn’t think I would find a position like this – a true hybrid of analyst and broker.”
One project that Rash is focused on involves consulting services that Scheer Partners is providing to the University of Rhode Island for the potential development of a research park across from the university’s north campus, where several new life sciences buildings are under construction.
Rash says he is working with an architect to develop plans for the park, which if approved for development would initially include a 50,000-square-foot building – assuming tenants are lined up – and in total encompass between 200,000 and 300,000 square feet of space.
Currently, Rash is conducting a financial analysis and market research for this project, developing a list of companies to target for tenancy in the research park, as well as working with economic development officials to hopefully secure funding at the state and local level.
Additionally, Rash is working closely with Scheer Partners Founder and President Robert Scheer on soliciting the George Mason University (GMU) PPEA Requirement in Prince William County for the construction of a 75,000-square-foot research facility. Rash is assisting Scheer and the Greater Washington Life Sciences Fund’s partner, Chevy Chase-based JBG Cos., with financial modeling as well as reviewing capital markets.
“We’re extremely pleased and fortunate that Jamie has joined Scheer Partners, as we continue to expand our work force in 2011 and beyond,” Scheer says. “He has demonstrated strong success as an entrepreneur, and his expertise in business development, finances and operations will prove quite valuable to our company moving forward. Plus, he grew up in the commercial real estate industry, so he knows this sector well.”
Rash, who lives with his wife in North Bethesda, received a Bachelor of Science degree in Marketing from the University of Maryland, College Park.