Frank Mahoney Award: Past Award Winners Reflect on its Impact
The Association of Industrial Real Estate Brokers (AIRE) is celebrating the 25th anniversary of The
Frank Mahoney Award, its annual recognition of an industrial real estate professional who has
demonstrated outstanding leadership, community service and real estate brokerage success in less
than 7 years in the industry.
Most of the previous award winners today hold senior level positions with some of Chicago’s most
prestigious firms, and many of them credit this award for propelling their growth in the industry.
In the first of a series, Whit Heitman, Adam Tarantur and David Bercu share reflections on receiving
the award and its impact on their careers.
“Still to this day, I am surprised at how much of a positive reaction I receive as a result of having
won this award,” said Whit R. Heitman, a Senior Vice President at NAI Hiffman, who won the award
in 1998 when he was with Paine/Wetzel. “It opened up so many doors, especially within the real
estate community, and gave me some credibility. I even remember that some of the senior real
estate professionals started returning my calls!”
“The fact that this award is voted on by other real estate professionals showed me that the amount
of time and energy I was putting into becoming a well-rounded real estate professional was being
noticed by others whom I respected in the industry,” added Adam Tarantur, a Principal with
Podolsky|Circle CORFAC International, who won the award in 2001. “This is an industry without a
great deal of structure or predetermined paths for success, so it is nice when you’re getting started
to get indicators from those you respect in the industry that you are headed in the right direction.”
David Bercu, a Principal with Colliers International, won the award in 1991. The 28-year veteran of
Colliers International knew Frank Mahoney personally, and says it was especially meaningful for him
to be honored for conducting business with the same character, integrity and salesmanship
Mahoney personified.
Frank Mahoney began his industrial real estate career in the early 1970’s after serving as a
clergyman in South America. He started his career with Van Vlissingen & Company before ultimately
beginning his own firm, Frank Mahoney & Associates, in the early 1980s. Throughout his career,
until his death in the late 1980s, Mahoney was an active member of the Association of Industrial
Real Estate Brokers serving as a member, committee chairman, director and an officer of the
organization.
“It’s important to understand that the Frank Mahoney Award is not based on the size or number of
transactions you’ve completed,” said Tarantur. “The award is based on more qualitative elements
than that. This award acknowledges the numbers, but focuses much more heavily on personality
traits, business acumen and philanthropic involvement.”
For Bercu, the award is ultimately a representation of the practices and conduct expected of all the
association’s members. AIRE membership requires its brokers to maintain the highest level of
professional standards possible and eliminate practices that could damage the public or discredit
the real estate profession. Its members meet regularly to learn and discuss better ways to serve
clients, customers, the public and each other.
“The Frank Mahoney award winners demonstrate all of the characteristics that the Association
adheres to,” said Bercu.
“I did not know Frank Mahoney but after winning the award I learned what an inspiration he was to
so many people in our industry,” said Heitman, who compares the award to winning the Rookie of
the Year award in Major League Baseball. “I have been very fortunate to earn a great living as an
industrial real estate broker, but there is no question that winning the Frank Mahoney Award is at
the top of my accomplishments.”
Each of the past winners was asked to name their greatest accomplishment as an industrial broker:
Whit Heitman said, “Although I have been very fortunate to earn a great living as an industrial real
estate broker, there is no question that winning the Frank Mahoney Award is at the top of my
accomplishments.”
David Bercu said, “Maintaining a good name and reputation after 28 years in the industry.”
Adam Tarantur said, “Closing a big deal is important and fun, but gaining the respect and friendship
of fellow brokers, developers/owners and ancillary professionals provides me more satisfaction. It’s
fun to do deals with people you like and respect and who like and respect you back. The fee is
great, but getting to celebrate the success with someone you call a friend makes it better.”
In the weeks ahead, as AIRE makes a call for entries to be submitted for the award, additional past
winners will be profiled to provide a where are they now/what have they done look into the Frank
Mahoney Award.
In the meantime, here are some interesting facts and information about the previous award
winners:
 When it comes to the firms that produce the most Frank Mahoney Award Winners, one
stands out like it was the US Mint. Eight recipients of the Award are either now with or
started their careers at NAI Hiffman.
 Three recipients—Kelly Gray, Christine Choi and Aileen Gazzolla Sandstedt have been
women, including the last two award winners.
 After winning the award, several recipients have gone on to give back to the industry and
the association, and are currently serving as board members (Adam Tarantur and Adam
Marshall).
 Two previous winners went on to become President of the Association (Dan Leahy and Chris
Gary).