Take Five With:
Josh Hedderich, Senior Vice President – Asset Management, Parmenter (Ed. Note — In 2018, Josh joined Lexington Realty Trust)
2016 TREC ALC Alumni Association Chair
1. What’s your fondest childhood memory?
I grew up in Indiana. Fortunately, I’m able to say that I can’t possibly narrow it down to one memory, but the memories that stick out in my mind revolve around my family… sitting next to my great-grandfather at the head of the Passover Seder table… listening to the family try to “one-up” the others with a great joke… going fishing with my dad and grandfather in a rowboat on my uncle’s farm… baking our way through a Mrs. Field’s Cookie cookbook with my mom… endless father/son bonding. I can only hope to deliver those memories to my daughter, Piper.
2. Who has inspired you in your life and why?
My dad… the nicest, most genuine guy I know. He grew up in a small town in rural Indiana, worked a paper route to buy a car, which he sold in order to go to college. He started his own residential mortgage company, where I worked with him in high school and college summers. I saw how he treated his team, recognizing their talents and flaws, providing an environment where people felt encouraged, supported, and respected, yet held accountable for their actions. All the while, he was ever-present in our lives – being a dad. That blend of leadership and balance is something I strive to emulate in my life.
3. What was one of your most defining moments in your career?
The Great Recession was pretty eye-opening for me. Having begun my real estate career in 2001, and spending the bulk of the mid-00’s in the retail sector, it seemed that the music wouldn’t stop. 2008 was my first significant market correction and gave me first-hand insight to the cyclical nature of our business. It taught me that when we’re in the good times, we had better plan for the bad times ahead… and shift our strategies as needed.
I’ve also grown through the mistakes I’ve made over the course of my career… some bigger than others, but I’ve learned from all of them.
4. What is one characteristic every leader should possess?
A leader needs to possess the ability to have difficult conversations, with people both up and down the corporate ladder, and be able to deliver an unpleasant message or dissenting opinion in a way that fosters growth and understanding through bi-lateral conversation. It’s important because once the difficult conversation is over, there are still the day-to-day operations to attend to, and you need your team to be fully functioning. If the conversation is more unilateral and the message is received, for example, as a manager berating a subordinate, there will likely be some damage that will be difficult to repair.
5. How have TREC’s leadership programs impacted your career and helped you grow as leader?
Over the 10 years or so I’ve been working with TREC, I was fortunate to be part of the ALC Class of 2012, and found it to be a tremendous experience. My involvement in our community service project helped to hone my leadership skills in rallying the class to plan an unveiling event for the We Over Me Farm at Paul Quinn College. This has translated well to leading our property teams throughout Texas.
I’ve also begun working alongside several peers in the second Executive Leadership Council class, and I’m excited to further develop my leadership skills as I continue to grow in my career.