MICHAEL STAENBERG HAS A PASSION FOR REAL ESTATE By Christine Imbs “I remember spending Saturdays looking at real estate with my dad. So I guess subconsciously I’ve always had an interest,” he says. “And it’s been great. If I could do anything else, I wouldn’t change a thing.” Why should he? As president and co-founder of THF Realty, Staenberg is having the time of his life. “When we created this company, I didn’t want my name on it. All I wanted was to have fun,” he says. “So we named it THF – To Have Fun. It’s just that simple.” It’s also very profitable. Since its creation in 1991, THF has amassed a portfolio valued at more than $2 billion and that consists of more than 24 million square feet of commercial space in 20 states. Retail Traffic magazine, a leading national retail development trade journal, has called it one of the fastest growing private retail developers in the nation. It’s also listed as one of the fastest growing developers by Chain Store Age. “Of course anybody can be successful once,” says Staenberg. “I’m most proud of the fact that I’ve been able to sustain that success, no matter how the real estate environment changes. I’m like Cal Ripkin. I show up everyday to play, and everyday I play at a high level.” Staenberg began his career in 1976 with St. Louis-based commercial realtor Leo Eisenberg Company, where he ultimately rose to vice president and director of real estate. But when Eisenberg started having financial difficulties in 1990, Staenberg decided it was time for a change. So he called his friend, Stan Kroenke. Kroenke and Staenberg developed a friendship after Staenberg put a McDonald’s restaurant in a location no one thought was possible. “When it was completed, I sent him a picture and asked, ‘What’s the next challenge?’ After that I was given other projects to do like Taco Bell, Pearl Optical and Pizza Hut,” Staenberg comments. “So when I decided to go into the development business I called Stan and we started THF. It’s our 15th anniversary this year.” Staenberg credits his success not only with being passionate about his work, but also with having a good work ethic. It was something his father taught him at an early age. It wasn’t an easy lesson, but it’s one he took to heart. “My dad was an apartment developer, so my very first job was working for him cleaning the apartment basements and picking up trash,” he says. “I was eight years old.” His dad agreed to pay him 25 cents an hour, which at that time was an incredible amount for a young boy. He worked diligently, and over time accumulated 20 hours, totaling the huge sum of $5. “When the time came to pay me my dad gave me $2.50,” he says. “I asked him where the other $2.50 went. And he said, ‘Do you like the roof you live under? Do you like the food we serve you? You have to contribute to the family.’ It was a lesson I never forgot.” But if his father gave him his work ethic, he says it was his grandfather who taught him how to negotiate. “He taught me the three nickel theory,” he explains. “Basically, there are three nickels on the table. I get one, you get one, and one stays on the table. That way everyone feels good about themselves and no one can say you took advantage of them.” The one thing Staenberg says he feels strongly about is giving back. Under his leadership, THF has supported a variety of civic and community building initiatives, including donating money and land to create hiking and biking trails, playgrounds, soccer fields, and skating rinks. It’s also taken a stand to help preserve natural resources. “We were one of the first to do that before ‘green’ became a buzzword,” Staenberg says. “If you just keep taking and taking, in the end there’s nothing left. Of course, we’re not perfect, but we’re doing what we can.” TalkingPOINTS BORN: Omaha, Nebraska FAMILY: Wife, Carol, and three daughters EDUCATION: Arizona State University graduate with degrees in Finance and Economics. FAVORITE MUSIC: Classic Rock FAVORITE MUSICIAN: Neil Young, but he also likes Bruce Springsteen, Tom Petty and Bob Dylan. FAVORITE BOOKS: “Pillars of the Earth” by Ken Follett; “Zen and the Art of Motorcycle Maintenance: An Inquiry Into Values” by Robert Pirsig hobbies: Biking, hiking and skiing WHAT HE LIKES MOST ABOUT ST. LOUIS: Its tradition and livability.

November 2006 - - - - - - - - - - - - - - - - - - CEO John Eilermann and Chairman Rick Sullivan The Manhattan Transfer Mike Pukszta Dominic Gardner - - - - - - - - - - - - - - - - - - www.stlrcga.org - - - - - - - - - - - - - - - - - - www.technologygateway.org - - - - - - - - - - - - - - - - - - SLU’s Edward A. Doisy Research Center James Castruccio Michael Staenberg Pujols 5