The following article is sponsored by NAI Global.

Alex Waddey doesn’t lead by dominating a room – he leads by listening to it and shaping what’s next with thoughtful and meticulous planning. After more than a decade with NAI Global, he now serves as President & CEO of one of the largest commercial real estate networks in the world. With more than 325 offices, 5,800 professionals, and operations in 65 countries, NAI Global generates over $20 billion in annual transaction volume and manages more than 1.15 billion square feet of property and facilities.

Prior to his current role, Alex served as Senior Managing Director and Co-Head of the firm’s Capital Markets group, overseeing more than $8.5 billion in transactions. He also served as General Counsel for the organization. Before joining NAI Global, Alex was a partner at Stites & Harbison, where he focused on commercial real estate finance. His leadership is shaped by a career that spans law, capital markets, and strategic operations across the real estate industry.

Tasked with painting a full portrait of the new man in charge, I sat down for a conversation about where commercial real estate is heading, why collaboration still wins, and how to go from local player to global force.

You’ve been with NAI Global for over ten years. Now you’re stepping into a new role. How’s it feeling?

It’s energizing. I’ve seen just how powerful this network can be. Our member firms are independently owned, locally invested, and incredibly entrepreneurial. That gives us a tremendous edge—but it also means our job at the center is to support, not dictate. In this role, I get to focus on helping our members work together more effectively by building structures like our councils and making it easier to share ideas, generate business, and grow.

You’re more of a coach than a commander then.

Right. When we approach the market as a unified team, we’re capable of doing so much more. My goal is to make sure our members feel empowered to collaborate and have the tools and support they need to do it well.

Let’s zoom out. What’s your outlook on the major CRE sectors for the rest of 2025?

Each sector is facing its own set of challenges and opportunities. Industrial remains strong, with demand driven by e-commerce, logistics, and data centers. We’ve seen major activity in markets like Texas, where Google’s industrial leases highlight the real estate-tech connection. Retail, especially experience-based and mixed-use formats, continues to rebound in places like New York and Phoenix. The office sector is still in transition—some markets are stabilizing, while others may see permanent changes in demand. As for multifamily, development has been affected by construction costs and rate volatility, but demand fundamentals remain sound.

Our 2025 NAI Global Market Facts & Trends Report dives deeper into these dynamics and shows that while the landscape is mixed, there’s real upside for firms that stay focused, adaptable, and tuned into emerging demand.

Any in-demand specialties people should have on their radar?

Data centers are one of the most dynamic asset classes right now, and our members are doing exceptional work in that space. Property management has also become a significant growth engine, especially for firms seeking more recurring revenue. And our Outdoor Hospitality group that specializes in campgrounds and RV parks has carved out a niche with strong investment interest.

I didn’t expect campgrounds to come up.

I’ve seen firsthand the real potential. Outdoor hospitality is tapping into real shifts in people’s travel and leisure behaviors. It’s not just about campgrounds anymore. It’s about high-quality experiences, smart amenities, and unique destinations that appeal to a wide range of travelers. Our members in that space are seeing strong demand, and they’re helping elevate a niche sector into a serious asset class. It’s a great example of how staying open to what’s next can lead to new opportunities.

All of these sectors combine strong fundamentals with growing investor demand and provide great opportunities for both brokers and owners. These are sectors where NAI members are already doing great work, and they reflect broader shifts in how people use space and invest in real estate.

Let’s talk about how people win in this kind of market. What’s the playbook for success in 2025 and beyond?

Three things stand out: collaboration, global perspective, and smart use of technology. The most successful firms in our network are the ones that leverage each other, whether that’s through councils, referrals, or joint business development. Thinking globally is also key. The best opportunities aren’t always in your backyard. Finally, AI and automation are no longer optional. Firms that are adopting tools like AI-powered prospecting and smarter CRM systems are positioning themselves to outperform. We're investing heavily in these areas to help our members stay competitive.

Why should commercial real estate pros think beyond their backyard?

Because opportunity doesn’t stop at your city limits. We’re seeing strong performance from NAI firms in markets like the UK, Germany, and South Korea. Cross-border referrals and global collaboration are no longer “nice to have”—they’re a necessity for growth. The most successful brokers are the ones who are expanding their view and working across state lines and even time zones.

How do investors and brokers actually start thinking and working beyond their local market in their everyday business?

Start by being intentional. Look for moments where a conversation could turn into a collaboration. Make follow-up calls after meetings. It doesn’t take much to get started, just a mindset shift and a willingness to reach out. At NAI we give brokers the opportunity to meet with brokers outside of their market through virtual councils, and in-person networking events. We’ve even built referral incentives to encourage this kind of cross-border thinking and members succeed because they make it part of their day-to-day work.

What international markets have your attention right now?

Asia-Pacific has incredible potential. Our Korea office, for example, holds major market share and has been an outstanding partner. Europe has also been a real bright spot. We recently welcomed NAI France and NAI Portugal, and both are already showing how powerful local expertise can be when connected to a global network. They bring deep knowledge of their markets and a collaborative spirit that fits right into our culture.

How is NAI Global helping its members and clients navigate today’s market complexities?

We’re doing more than reacting to change—we’re helping lead through it. Our structure allows firms to remain independent but benefit from national and global scale. Through councils, we give members a place to share insights, develop new business, and access leadership directly. Just as importantly, these groups create space for mentorship, coaching, and meaningful relationship-building, whether it's through monthly discussions, professional development sessions, or one-on-one collaboration. The result is a network that’s not only doing deals, but helping each other grow.

That kind of access to peers and leadership can make a real difference when the market shifts fast.

It does. We’ve also made it easier to connect across the network through platform upgrades, visibility tools, and business development support. In an uncertain market, having access to trusted peers and shared best practices makes all the difference.

Do you have any favorite collaboration stories?

One that comes to mind is a cross-border deal between our teams in Seattle and Mexico. Arie Salomon from NAI Puget Sound Properties and Sara Ramos-MacFarland from NAI Mexico partnered to negotiate a 7-year lease renewal for STEELCASE, covering nearly 419,000 square feet across three industrial facilities in Reynosa.

Arie brought decades of client knowledge, while Sara and her team contributed deep local market expertise. Together, they delivered a solution that met the client’s long-term goals. It’s a great example of how our network works when members combine trust, specialization, and shared focus across borders.

Sounds too easy.

That’s the beauty of the network. It’s a great example of how powerful we can be when people simply pick up the phone and collaborate.

You mentioned AI. Let’s cut through the buzzwords – how are brokers actually using it right now?

The pace of the market has changed. You can’t afford to spend hours chasing cold leads when tools exist to surface high-probability targets instantly. AI is helping brokers work smarter by identifying patterns, suggesting next steps, and freeing up time for relationship-building. It doesn’t replace expertise, it enhances it. When used effectively, AI becomes a powerful tool that sharpens your edge. It helps you stay ahead of client needs, identify trends faster, and compete more effectively.

So AI makes you faster and sharper. But building relationships and expertise still matters.

Exactly. The real, added value still lies in relationships, local knowledge, and the hustle our members bring every day. What we’re doing at NAI Global is making sure our firms have access to the technology they need to succeed without losing the human touch that makes them great.

You’ve taken on leadership roles both inside and outside of the industry. What draws you to service beyond the workplace?

I’ve always believed in showing up for your community. During my time as President of the Board of the Ronald McDonald House of Nashville, and while serving on the Board for the Young Adult Cancer Initiative at the Vanderbilt Ingram Cancer Center, I saw firsthand how much impact you can have just by being present. When you’re supporting families through medical challenges, it puts everything into perspective. It reminds you to slow down, listen, and lead with empathy. Those experiences have stayed with me. They’ve shaped how I think about leadership and what it means to show up for others in meaningful ways.

You’re known for being calm under pressure. What keeps you grounded outside of work?

My family, without question. They remind me every day of what really matters. No matter what’s going on at work, coming home and being present with them puts everything into perspective. Whether it’s a quiet evening at home or time outdoors together, those moments help me reset and stay centered. It’s easy to get caught up in the pace of this industry, but family is what keeps me balanced.

Thank you, Alex. It’s been a pleasure.

Thank you. I’m proud of the work we’re doing at NAI Global and even more proud of the people behind it. It’s a dynamic time in our industry, and I truly believe that when we stay connected, stay curious, and keep showing up for each other, we’re going to continue building something great.