November 18, 2015
Dennis Breske has sold his brokerage firm NAI Sioux Falls to his colleague and fellow broker, Troy Fawcett.
The two talked about it informally several months ago, but Breske revisited the offer and closed the sale recently.
It’s the fourth company Breske has sold in the past 18 months. He also owned an NAI firm in Fargo and was part of two Murphy Business franchises.
“I’m just in the process of simplifying my life,” said Breske, who turned 55 this year. “That was always a milestone for me. I’m not retiring. I’m just simplifying my life and planning to work hard as a broker.”
He will continue to be a broker with the NAI office and also is selling Fawcett the building that includes its office at 2500 W. 49th St.
“Dennis has built a great brand,” Fawcett said. “We’ve got a good group of experienced brokers. It was the right time for him and I think the right time for me to maybe step up and see what I can do.”
Fawcett is a graduate of Augustana University and has worked in the commercial real estate industry for 18 years.
“I just like making deals,” he said. “I love helping people out and matching clients with properties and staying informed on the market.”
The NAI office has nine brokers, and Fawcett is looking to grow it with what he called a broker-minded approach.
“It’s about potential for ownership opportunities and favorable splits,” he said.
Breske started as a broker in 1991 following a job at the Governor’s Office of Economic Development. He started Sioux Falls Commercial in 1999 and affiliated with NAI in 2003.
NAI has 375 offices worldwide.
“We’ve started to do a lot more business outside Sioux Falls,” Breske said. “We have a few clients we get to work with around the country. We’re able to help a Sioux Falls company in other markets because of our affiliation with NAI.”
The Sioux Falls firm has been involved in 244 leases, 153 sales and almost $206 million in transactions since 2013.
“We’ve done very well, and we’re definitely one of the top firms, but to keep the momentum going sometimes it’s good to get some younger energy involved,” Breske said. “I think Troy is definitely looking to expand the team.”
Courtesy of Jodi Schwan, Sioux Falls Business Journal