Micah Larmie, a prominent figure in commercial real estate with over two decades of experience, has been named to the IllinoisCRE Commercial Real Estate Hall of Fame. As Managing Executive Vice President for Transwestern, Larmie directs a vast portfolio exceeding 40 million square feet across the Midwest and Carolinas, solidifying her reputation as an industry leader.
Key Takeaways
- Micah Larmie, an executive at Transwestern, has been inducted into the IllinoisCRE Commercial Real Estate Hall of Fame.
- She manages a diverse portfolio of over 40 million square feet of office, industrial, retail, and mixed-use properties.
- Larmie played a critical role in the successful integration of 10 million square feet and 160 employees after Transwestern's acquisition of MB Real Estate in 2023.
- Her leadership contributed to 500 West Madison winning a prestigious International TOBY Award in 2018.
- Larmie is recognized for her client-focused approach and ability to navigate complex market changes.
Overseeing a Major Regional Portfolio
In her role at Transwestern, Micah Larmie holds significant responsibility for the company's Asset Services group. Her oversight extends across key markets, including Chicago, Detroit, Minneapolis, Des Moines, and the Carolinas. This extensive portfolio includes a wide range of property types, from Class-A office towers to large-scale industrial facilities and retail centers.
Larmie's primary focus involves providing strategic direction to maximize revenue and implement cost-reduction measures for clients. She is deeply involved in long-term capital planning, ensuring the assets under her management maintain their value and competitiveness in the market. Her work also emphasizes innovation in technology and vendor partnerships to enhance operational efficiency.
A Diverse and Demanding Role
Managing a 40-million-square-foot portfolio requires a multifaceted skill set. Larmie's day-to-day responsibilities include risk management, detailed financial oversight, and ensuring the highest standards of service are met across multiple states and property types. This scope demonstrates a comprehensive understanding of the commercial real estate landscape.
Adapting to Modern Real Estate Challenges
The commercial real estate sector has undergone fundamental changes in recent years, driven by the pandemic and evolving economic conditions. Larmie acknowledges these shifts as a central part of her work, requiring constant adaptation and forward-thinking strategies.
“The dynamic nature of commercial real estate is what keeps me energized,” Larmie said. “No two days are the same. The pandemic and current economic climates have fundamentally changed how properties are managed. From shifts in tenant populations to evolving operational strategies, our firm continuously adapts to stay ahead.”
She emphasizes that Transwestern's asset services team remains focused on being progressive and solution-oriented to meet these new demands. This approach is crucial in an industry where tenant needs and property usage patterns are in constant flux.
Leadership Through Experience
Larmie's leadership style is built on a foundation of direct, hands-on experience. She has managed a variety of complex assets, including properties undergoing acquisition, disposition, or significant redevelopment. This practical knowledge allows her to develop customized solutions tailored to the specific needs of each property and client.
“I think progressively and outside of the box. I don’t have a ‘no’ button,” Larmie stated. “I do my best to lead by example, seek creative solutions for our clients and tenants, and am always willing to step into others’ shoes to understand their perspectives.”
A Record of Significant Accomplishments
Larmie’s career is marked by several key achievements that highlight her capabilities in management and strategic execution. One of the most notable recent successes was her leadership during Transwestern’s acquisition of MB Real Estate in 2023.
She was responsible for integrating a massive portfolio of 10 million square feet and onboarding 160 new employees. According to reports, the transition was executed seamlessly, with no disruptions or complaints from clients, showcasing her meticulous planning and operational expertise.
Award-Winning Property Management
In 2018, Larmie’s management of 500 West Madison in Chicago was instrumental in the property receiving the International TOBY (The Outstanding Building of the Year) Award in the 'Over 1 Million Square Feet' category. This is one of the most prestigious awards in the commercial real estate industry, recognizing excellence in building management and operations.
Industry Recognition and Involvement
Larmie's contributions have not gone unnoticed by her peers. In 2023, she received a ConnectCRE Women in Real Estate award, celebrating her influence and success in the field. Furthermore, she has been an active member of the BOMA Chicago Board of Directors since 2019, contributing to the broader industry's development and standards.
Her ability to build and lead high-performing teams is cited as a key factor in the success of Transwestern’s Midwest and Carolinas portfolios. From recruiting top talent to implementing effective operational plans, her leadership ensures consistent, high-quality service delivery.
Personal Life and Professional Balance
Beyond her demanding professional career, Larmie finds balance and rejuvenation through a variety of personal interests. She is an avid golfer and hiker, and enjoys traveling to new destinations. These activities provide a necessary outlet from the high-stakes world of commercial real estate.
Residing in Chicago, she also takes pleasure in exploring the city's renowned restaurant scene. Above all, she values spending quality time with her son and family, which remains a cornerstone of her life outside of work. This balance between a high-powered career and personal well-being is a key aspect of her sustained success.
