Denver's 1st CRE Firm Has New Leadership
A third generation is taking the helm at Denver’s first commercial real estate firm.
Tanner Fanello has been named president of Fuller Real Estate, and Brian Baker, grandson of founder and Chairman John Fuller Sr., has been named executive vice president.
“We want to build on the legacy of what Mr. Fuller created 64 years ago,” Fanello told Bisnow. “We are a Colorado company that’s specializing in commercial real estate. Our focus is to continue to be a Colorado company that’s helping businesses make the best real estate decisions that they can.”
Fanello and Baker are in position to succeed CEO John Fuller Jr. and Chief Operating Officer Burt Fuller, who are stepping back from day-to-day leadership responsibilities. All of the senior Fullers will continue in advisory roles.
Fanello previously served as a vice president at the firm and brings more than 15 years of experience in management and business development. His specialty areas include industrial sales, leasing and land development.
Baker has served as a vice president with the firm and has more than 10 years of professional sales and leadership experience. He is a Denver native and has been the firm's top-producing broker for the past two years.
John Fuller Sr. moved to Denver in 1949 when the city had a population of just 390,000. In 1955, Fuller and a small team launched Fuller & Co., the first company in the state to focus on commercial, industry and investment properties in Denver.
Fuller, who was president of the Denver Board of Realtors, helped to establish the first Multiple Listing Service in Denver. The firm played a large role in major Denver developments, including Centennial Airport and the Denver Technological Center.
Notable recent transactions Fuller Real Estate has handled include Baker and Fanello representing TWR Real Estate in the $4.3M purchase of 1253 East Easter Ave., a 24,891 SF office building. About half of the building will serve as TWR Real Estate’s headquarters, with the remainder leased to other tenants.
Fuller Real Estate’s office investment team of Mike Haley, John Becker, David Gagliano and Alex Scott recently sold a 50K SF building at 1075 Yukon St. in Lakewood.
The building, which was 50% leased at the time of the sale, is being repositioned with new tenant finishes and mechanical improvements. The investment team has taken over leasing the building and has leased over 8K SF in the past six weeks.
Fuller brokers Bob Leino and Andrew Dodgen have several land listings, including two at transit-oriented development sites.
“They have excelled in marketing these listings to developers that are looking to take advantage of RTD [Regional Transportation District] light-rail opportunities,” Fanello said. "The Leino-Dodgen team has a rich history of land development in Colorado and market expertise to assist in acquisitions and dispositions of land.”
Advances in technology are part of what is pushing the succession plan forward.
“We are taking a very good look at how technology can influence change at our company,” Fanello said.
“We have the benefit of relationships with a significant amount of property owners and veteran brokers with a significant amount of experience," he said. "What we’re looking at is what type of data and technology we can adopt to help our brokers make better decisions and provide resources to our clients."
Baker said one of the biggest changes between now and 10 years ago, when Denver started its crazy population growth, is the number of commercial real estate companies in Colorado. He estimates there are now about 170 commercial firms, which is at least double — maybe even triple — the number a decade ago.
“Denver is slowly becoming a tier-one city,” Baker said. “It’s a thriving and growing marketplace, and there’s a lot of opportunity here.”