Father – Son Real Estate Team Knows the Ropes

Larry Brown and son, Adam, have long teamed up to expand the family real estate business.

Brown Realty Group, LLC, is a family-owned real estate company concentrating on commercial properties. Together, they are broadly based in commercial real estate and property tax remediation with a combined 70 years of experiencing the market’s pulse and volatility.

Larry stated, “The real estate business is very cyclical, and we’ve maneuvered through several ups and downs by staying focused, working hard, and relying on decades of relationships. The real estate business is one of the few that can be very economically viable with the only inventory being market knowledge and what does and doesn’t work for the client.”

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An Atlanta native, Larry was licensed by the Georgia Real Estate Commission in 1970 while still a student at Georgia State University, studying urban life with a concentration on land development. He was encouraged by his father, Melvin, to get into the real estate business.

Adam Brown is known as a multi-tasking “girl dad.”

Larry stated, “Dad was an investor, owner of several businesses, and had the vision of the Atlanta area’s growth potential.” As an interesting history nugget, in addition to real estate, Melvin was the operator of the Peachtree Art Theatre, which was located at the corner of Peachtree and 13th Street. Margaret Mitchell was on her way there when she was hit by a car crossing the street. He also was one of the first liquor store owners in Atlanta and was an owner/operator of the Downtown Motel.

After graduating college, Adam spent several years in media sales. Larry encouraged him to get a license and join the business. Adam developed a rapport with several restaurateurs and concentrated on site selection for the past 20 years, as well as other retailers and medical professionals nationwide.

Larry works with investors seeking properties as well as site selection for storage developers and gas stations. He said, “Having invested in and developed several retail properties, our investment focus has shifted to multi-tenant warehouses. For the past 40 years, Larry has also successfully assisted taxpayers in the appeal of property taxes.

Both Adam and Larry have been involved in several high-profile transactions from the ownership and broker side. Larry finished the development of Glenridge Point Shopping Center, near Northside Hospital, and the Papa John’s on campus at the University of Georgia. Adam’s list of restaurants is vast. His newest is Nowak’s in Sandy Springs (soon to open). He also has done all the deals for Taqueria Tsunami and Café at Pharr.

Adam Brown is a sports enthusiast and can often be seen at Atlanta Braves games. He has done many high-profile restaurant deals.

In looking toward 2023, Larry stated, “After several years of major growth, the market appears to be adjusting. Interest rates that were near zero are climbing, and, since the pandemic, traditional habits have changed. Employees have learned to work remotely causing companies to downsize. 2022 was a banner year for Brown Realty Group, LLC. We are cautiously optimistic about 2023. The first three months should reveal what’s going to happen. Rising interest rates will make it difficult to refinance some properties. This could be good and bad. For borrowers, ‘not so good’, but for investors, there could be opportunities. ‘Cash is king,’ so we are telling our investors to stay liquid while the market adjusts.”

Adam added, “The neighborhood shopping center will never go away, but big box retailers are getting hurt by e-commerce, causing landlords to consider repurposing properties.”

For many years, Brown was a two-man firm with a few independent contractors working as associates. Last year, their longtime associate Karen Friedenberg passed away, and added her nephew, Harry Rosen, with an MBA and a five-year banking background.

Larry concluded, “We have done multiple deals with a very large and diverse client base. Our philosophy is to secure the best results for clients. Referrals and relationships are the life blood of the industry.”

Adam said, “Dad told me when I first got into the business that the best thing he was giving me was a good name and not to mess it up. A father/son relationship has its challenges and positives. We have learned from each other’s strengths and weakness to create a lucrative and rewarding business. One thing we like about the real estate business is flexibility. We enjoy driving to preview property and seeing new developments. It’s very helpful when asked about an area that we can confidentially convey what is going on.”