MARCH 2020

Commercial real estate leader wins both top industry awards for record third year

Monty Spencer awarded Deal of the Year, Broker of the Year by Hampton Roads Realtors Association

By Melissa James,York County Contributor

Monty Spencer(March 25, 2020) - In the high-stakes field of commercial real estate, York County businessman Monty Spencer is known for his unparalleled expertise—and now, his unparalleled awards. Monty recently won both Deal of the Year and Broker of the Year from the Hampton Roads Realtors Association’s Commercial Alliance. This was the third year straight he achieved both honors. Deal of the Year means Monty had the highest gross commissions (and the biggest selling price).

As president & CEO of The Storage Acquisition Group, a subsidiary of Mid-Atlantic Commercial Real Estate, Cowles M. “Monty” Spencer Jr. has completed over $1.5 billion in transactions over his career. But the last few years have been especially productive, and Monty said it’s his team who deserve the credit.

“The exciting part of these awards for everyone on the Mid-Atlantic team is the validation of the individual process achieved by each of them.” he said. “It might be my vision, but everyone is playing a role in the success. The whole team has bought into realizing that what is acceptable today is unacceptable tomorrow, and that we always have to strive to improve on what we’re doing. We have a real family environment here, and that makes us different.”

Monty began his commercial real estate career in retail development and investment sales. He was drawn to the field, he said, because he liked the idea of creating something and building a place of commerce that would help grow and develop our community. Eventually he found his niche in investment real estate.

After taking the lead at Poquoson Realty, he evolved the business into Mid-Atlantic Commercial—shifting its focus from residential real estate into a broader range of services. The company is composed of multiple teams, including retail, development, brokerage, multifamily, land, industrial, marina, storage and property management.

In 2014, Monty further expanded his impact by founding The Storage Acquisition Group, which focuses on acquiring off-market self-storage facilities and portfolios. Both businesses are headquartered in his 10,000-square-foot building just off Highway 17. He said being in York County ensures access to a “fantastic pool of talented people,” which has greatly influenced the company’s success.
Mid Atlantic Commercial Real Estate
“I also find York County’s location extremely convenient, right between Richmond and Virginia Beach. The local government is very supportive of business—and obviously, we like how the taxes are lower than in neighboring cities,” he said. “I would strongly recommend anyone with a business to consider locating in York County … and call one of Mid Atlantic’s commercial agents to help you find a location!”

Monty said his business and his family are closely intertwined with the County. A lifelong resident, he was in Tabb Elementary’s inaugural class the year the school opened, later attending Tabb Intermediate (now Middle) and Tabb High. He left the area only long enough to earn his degree from Ole Miss. His brothers and sisters continue to work actively in the York County community. Monty himself stays involved in a variety of philanthropic pursuits, and coached football at Grafton High prior to starting a family with his wife, Nicole. Married almost seven years, they have a 4-year-old son, Winston, and are adopting a daughter this summer. Their Bernese Mountain Dog rounds out the family.

With such deep roots in the area, Monty finds the line between work and family often gets blurred—and he wouldn’t have it any other way.

“Working with the people and seeing their visions reached and dreams accomplished is one thing, but by working through the challenges of buying/selling many times, we have the opportunity to establish lasting relationships. I can tell you that many of my closest friends today are people who I met buying or selling their families' properties. Being able to play our part to make that happen is incredibly rewarding,” he said.

In addition to earning the two HRRA awards the past three years, Monty has also received the Commercial Sales and Leasing Achievement Award for 2015, 2016, 2017, 2018, & 2019; the Top Commercial Real Estate Producer Award in 2017, 2018, 2019; the Deal of the Year Award in 2017, 2018, 2019; and the Gold Award for Commercial Sales and Leasing in 2015 & 2016.

“It’s all about establishing a business model and following the process you set up within that model,” he said. “The awards are a validation of having a well-stated vision and plan, and continuing to focus on perfecting your process. There are plenty of other talented brokers and good companies in the industry that also have great processes and are equally deserving. Sometimes you get a $50 million deal instead of a $5 million deal. We’ve been blessed.”

Mid-Atlantic Commercial Real Estate is located at 110 Mid Atlantic Place, Yorktown.