James Pitts, FRED – Fractional Real Estate Department
James Pitts is the CEO of FRED – Fractional Real Estate Department. James is a 20 year corporate real estate professional with experience at Jones Lang Lasalle, Grubb & Ellis, Johnson Controls (JCI) Global Workplace Solutions, and Sheraton Hotels. Most notably, James worked as Solutions Development Director at JCI Global Workplace Solutions where he was responsible for the design of global and regional corporate real estate outsourcing solutions for companies such as Motorola, Barclays, HP, SunTrust Banks, HSBC with annual spends of $50M-$500M.
FRED – Fractional Real Estate Department is a corporate real estate services firm designed to serve middle market companies that don’t have a real estate department but need one. For most businesses, real estate is the second or third highest cost after people, and a lease or purchase of real estate can be one of the longest commitments a company makes. These strategic decisions have cost and business risk implications but are typically left to managers with non-real estate backgrounds and outside real estate brokers to handle. The FRED team is made up of former heads or managers of corporate real estate for Coca Cola, E&Y, Wells Fargo, and AT&T with 30+ years of experience each. FRED doesn’t do real estate transactions; they provide analysis, strategy, and manage the client’s process and brokers on behalf of the business. They are paid on a project, cost savings, or retainer basis and promise to provide trustworthy real estate expertise.