While working summers as a teen and a college student in his father’s industrial distribution company, David Fults, Executive Vice President in Voit’s Los Angeles office, had no idea that he was laying the foundation for his professional career as an industrial sales and leasing specialist.
“I worked in the warehouse as a laborer and also drove trucks and forklifts, but I never even considered [being in the business],” says Fults. “Maybe something was forming in my subconscious, because when I got the opportunity to work in selling and leasing warehouses in LA, it just made sense.”
Fults grew up in La Cañada, about 40 miles north of Los Angeles, and, like many brokers, was a competitive athlete in high school, excelling in both basketball and volleyball. He went on to play volleyball in college at UC Santa Barbara, and that experience proved to be another plank in his foundation as a broker. “It’s an easy transition from the mindset of competitive sports to brokerage because of the competitive nature of the business,” says Fults. “It’s a competition every day, so men and women who played competitive sports can really understand the sales business.”
In college, he was a political science major with the goal of becoming a college professor, teaching students history and international relations. But that vision faded as he realized he was better suited for a world outside academia. After graduation, he went to work for the Anaheim Ducks (when the team was still owned by Disney), selling corporate advertising. He soon discovered that the ceiling for earnings was limited, as “there’s no pressure for them to pay well, because there’s an unlimited supply of people that want to just be in the professional sports world,” he explains. “So, I decided I needed a ‘real job’ and started hunting around.” His search led him back to his warehouse days—only in a far different and much more lucrative capacity.
Returning to His Roots
“I looked at a bunch of different industries, and commercial real estate was one where I had three different connections,” says Fults. “So, I went and met with everybody that would meet with me, and it quickly shook out that commercial real estate was where I needed to go, especially since I knew a lot about warehouses and how they worked. Then it was just a matter of where.”
In 1998, he landed a job with CBRE in the City of Commerce office as a runner for a pair of senior industrial specialists, where he “got paid nothing” and ground it out for a year. “It was the era when training programs had not yet been formalized at most brokerages. So they paired you up with a senior guy or two, and that was your training. But I had good guys who taught me and helped me a lot,” says Fults. “There were also no teams back then, and it wasn’t as structured as it is now, so there was a lot of opportunity for a young guy to go out there and get it.”
And “get it” he did. After becoming a commissioned broker, he immediately found success, earning the firm’s “Southern California Industrial Rookie of the Year” honors. He suffered through a sophomore slump in his second year, “and then was off to the races.” He and his Voit partner, Brian McLoughlin, Executive Vice President teamed up while at CBRE, establishing themselves as top brokers in the market.
Moving to Voit
After a few years, despite their success at CBRE, Fults and McLoughlin began looking for new opportunities. But then the Great Financial Crisis of 2008 hit. “We put everything on hold and said, ‘Let’s not make any big changes.” In 2010, they decided to try again. “We went out and talked to every major company in Greater LA. Generally speaking, companies wanted us because we were a known commodity and we had had a lot of success at that point,” said Fults.
They found a unique opportunity at Voit, which had offices in San Diego and Orange County, but none in LA at the time. “Voit was looking for help to fill out their geography for some big customers that they were helping deal with the fallout from the Great Financial Crisis. They needed a presence in LA, Ontario, Phoenix, Las Vegas, and Northern California,” recalls Fults. “So, it was an interesting opportunity for us to create a new office—which does not happen every day—and we’ve been at it ever since. Voit has been a great spot for us and has worked out perfectly.”
At Voit, he found a sense of camaraderie throughout the company that corporate firms often lack, professional autonomy rather than over-management, and a “family-first” culture. “At some of the bigger corporate companies, there’s a lot of politics and reams of paperwork and forms, and conference calls with middle management you need to do because they’re publicly traded companies,” says Fults. “We’d been at this for quite a while, so we didn’t need a lot of management. We just needed a good, supportive place to operate. And Voit has been great in that they don’t overmanage, but do give us the support we need.”
Voit’s family-centered company culture is also a huge plus for Fults. “There are a lot of traditions where we gather together and build relationships within the company. So, we get to know a lot of people’s families at outings like the famous Voit summer party, where everyone brings their families, and we all go to a resort for a night with our kids and our wives. It’s a unique thing. I don’t think any other brokerage firm does that.” That family culture drew in his nephew, Kevin, to the business and Voit. Kevin Fults, Vice President now works with David on the LA Industrial Team.
Secrets for Success
Fults says his initial success as a broker came through hard work, which became easier as he gained market knowledge and built relationships. But it’s his reputation as a trustworthy practitioner that has allowed him to have the long-term success he has enjoyed in his nearly 28-year career. “People figure out who the bad guys are really quickly, and if you’re a good guy, the market helps you out and takes care of you,” he emphasizes.
His expertise takes him all over the market, from small warehouses to large manufacturing plants to truck yards. Fults and his team serve customers throughout the industrial spectrum. Fults, McLoughlin, and Ryan Huguenard, SVP, recently assisted a firm that conducts container inspections for U.S. Customs in leasing a 180,000 SF warehouse in Carson. He’s also working with an advanced manufacturing company that’s planning to build a new 200,000 SF plant in Southern California to serve the aerospace and automotive companies.
“It’s a relationship business,” says Fults. “So, I’ve found that building trust, respect, and honor in the business pays you back tenfold.”
Additional broker profiles are scheduled over the next few months. Check back to see who we highlight next.