Lois Zambo is vice chairman and branch manager of tenant broker Studley’s Washington office. She’s been with the company since 1975, and has negotiated deals on behalf of tenants totaling more than $4 billion.
What is the most notable deal you’ve been involved with recently?
The Newseum, a 440,000-square-foot building which houses the actual Newseum, as well as office, retail and residential space.
How did the project come about?
The Newseum wanted to relocate from Rosslyn and contacted me. The property it now sits on is the last major piece along Pennsylvania Avenue between the Capitol and the White House. Developers from all over the world were looking at it. We secured it in six months by convincing the city that it would add arts, educational and cultural components to the area, and that no one else would be able to bid a higher price. It was a thrill working on it.
How did you first become involved in real estate?
It was totally by accident. I had been a dental hygienist and didn’t like it, and then I took a temp job at Studley as a receptionist. I didn’t know anything about commercial real estate, but I wanted to be in downtown Washington. The founder came in and met me, and two months after I started, he said “Go get your real estate license — this business is perfect for you.” The main trait I had was the ability to gab; I could make people feel comfortable.
How has the industry changed?
It’s become an extremely sophisticated industry. We didn’t have computers; we had little calculators. It’s also become a highly financial business industry. Now you see more business school grads.
