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On Leadership: Molly Ryan Carson
The executive vice president of real estate development and market leader for Ryan Companies’ Southwest Region shares her insights on helping clients thrive, maintaining company culture and enthusiastically supporting communities in which she works.
Development: Growing up in a successful real estate family, did you always know that you wanted to be part of the family business?
Molly Ryan Carson: While I was in college, I worked summers as a field laborer at the company, but I was a psychology major with a minor in business, so I did not think about joining the firm. After graduating from college, I worked at an ad agency and loved it. I did not think much about Ryan Companies, other than to go to company parties and attend project groundbreakings.
Molly Ryan Carson
I am one of eight siblings. When I was 26, my dad sat us down and told us a story about one of his friends who sold his business only to discover that his son was devastated because he had always wanted to join the business. The problem was that they had never discussed it. So, my dad used this story to start a conversation with us. He said if we were interested in joining, all he could promise was an interview and an entry-level position at the company. The rest was up to us. If we were not interested, that was fine, but if we wanted to join the company, it would mean a lot of work.
I began my career as a property associate, serving as a junior property manager. It was a great place to start in the commercial real estate business, especially for someone like me, who had limited construction knowledge. It allowed me to learn the ins and outs of how a building operates. More importantly, when a building functioned poorly, I got to see what needed to be done on the next building to avoid problems. After a year in property management, I moved over to the development side of the business with our retail team. I have been on the development side ever since.
Development: Could you talk about the beginnings of Ryan Companies and take us up to the present?
Carson: In 1938, we were a lumber company; today, we are a full-service real estate organization. We build across sectors including industrial, office, multifamily, senior living, retail, mission critical work and health care. We also develop, design, and source capital. Our focus has always been on what we can do to improve the lives and businesses of our customers, which in turn has allowed us to grow. We started working with Target and building their stores, for example, and they were pleased with the results. From there we were invited to build their distribution buildings, data centers and a new headquarters. Today, we have 1,700 employees and are in 17 markets across the country. We build in almost every state.
Development: Could you discuss Ryan’s culture?
Carson: My great-grandfather and his sons started Ryan Companies so they could spend more time together. My Uncle Fran was working long hours at a local company when my great-grandfather asked him if he could attend a football game with him. My uncle said he was just too busy with the job. It was then they decided to buy the lumber company so they could work together. The whole premise of Ryan Companies is that if you are going to spend your life working, then why not spend it with people you care about where you can do your best work?
Development: Ryan has helped to reshape Arizona’s commercial real estate market. Could you talk about Ryan’s commitment to the state and your part in it?
Carson: I came to Arizona 15 years ago, and we have worked with government and universities to focus on providing more opportunities for people to live and work in the state. There are thriving aerospace, financial services, semiconductor and health care businesses in the state, to name just a few. They are all growing, and we at Ryan have had an opportunity to grow with them.
Development: You still find time to work closely with the communities in which Ryan operates. Why is that important to you?
Carson: We have been blessed here in Arizona to be part of a state that really cares about growth and its future. Assisting communities is a real privilege for us. You get to meet people who are doing wonderful things in these communities. In working with organizations like the Society of St. Vincent De Paul, the Arizona Humane Society and Phoenix Children’s Hospital, we get 10 times more than we give.
Development: What is your primary role as executive vice president?
Carson: I oversee all development activities for the Southwest, from buying land to pitching a new project. I also work with organizations like NAIOP to help shape future development. I have a great team working in industrial, office, health care and multifamily, so I can be involved in many different sectors of the business.
Development: What qualities do you look for when hiring senior staff?
Carson: I look for people with a solid moral compass, a desire to work hard and an ability to see the larger picture.
Development: As a senior leader at Ryan, how do you define leadership?
Carson: To me, leadership is leading by example. Being a leader at Ryan is being both a coach and a player. Leadership is about being right in there with your team, figuring out the problems, but not getting in the way. Leadership is empowering your team to solve, to execute and to lead. Leadership is not being afraid to get into the weeds. If you expect someone to do something, you should be willing and able to do it yourself.
Development: What has been your greatest leadership challenge at Ryan?
Carson: Managing our tremendous growth while maintaining our wonderful company culture.
Development: When internal conflicts arise or mistakes are made, how do you handle them?
Carson: We handle them with direct communication immediately. We all have two ears and one mouth. So first, we listen to the problem and try to understand its origin. Then we work together to find a solution.
Development: What is your outlook for commercial real estate in Arizona three to five years out?
Carson: I anticipate a really good commercial real estate market in Arizona. I don’t think we will see a boom like we have had in the last two years, but we as a company are very optimistic because we are so diversified. We have a lot of business coming in through the semiconductor market, and we are seeing good expansion in aerospace and financial services. Many companies, however, are still trying to figure out how to adapt to a hybrid workforce.
Development: You mention a hybrid workforce. Are people in your markets returning to the office in large numbers or staying remote?
Carson: It is a company-by-company issue. No one likes to be mandated to do something, so our company strongly suggests being in the office four days a week because we all work better together. Also, at least half of our employees work in the field and do not have the option of working at home — you cannot build a building from home.
Development: What is the best advice you have received during your years in the business?
Carson: I have received four great pieces of advice: Always do the right thing; do what you say you are going to do; don’t be afraid to be who you are; and listen a hell of a lot more than you talk.
Development: What advice would you give to someone entering commercial real estate today?
Carson: Work hard and be authentically yourself. Years ago when I joined the industry, there were not many women in the business. Back then, I had a wonderful woman say to me, “You are never going to be one of them [one of the boys].” I said, “What do you mean?” She told me, “Be yourself, and then you will do a lot better in the business. You will succeed at what you do.” That was so freeing to me, but it was also scary because I did not want to be left out of things because of my gender.
Development: NAIOP and Ryan have a long history together. In fact, in 2007, NAIOP honored Ryan by naming the company Developer of the Year. Has the relationship with NAIOP benefited your company?
Carson: Undoubtedly. Whatever I have personally given to NAIOP, I have received back tenfold. Just having the space to talk to a competitor is phenomenal. Without NAIOP, you do not have an opportunity to do that. NAIOP’s advocacy of responsible development for businesses nationwide is so important. You cannot put a dollar amount on it. Then there is NAIOP’s governmental advocacy, both locally and at the federal level. That is so critical.
Development: Being executive vice president at Ryan is challenging. How do you relax in your off hours?
Carson: My family and I love to travel and love to ski. We see a lot of musical performances together. Anything we can do to get the kids out and be active is great. But we love to travel because we get to see unfamiliar places, whether it is Des Moines, Iowa, or Kenya.
Ron Derven is a contributing editor to Development magazine.
