A Q&A With Jason & Shay Hughes
Fifteen years ago, Hughes Marino was built on two bold ideas: that tenants deserved a true non-conflicted advocate and that commercial real estate could be elevated through a more sophisticated, service-driven model supporting both our clients and our advisors. While a lot of exciting things have changed over the years, Hughes Marino is still a company rooted in our cherished culture, aligned with our core values and a commitment to doing the right thing every single day. In reflection on this milestone anniversary, we sat down with Chairman & CEO Jason Hughes and President & COO Shay Hughes to share the kind of insight that only comes from building a company from the ground up: lessons learned, defining moments and what excites them most about the future.
Q: What did you get right early on that shaped the company’s foundation?
Shay: Our people. Everything starts with people, and we started with an incredible group who shared strong core values, who were committed to doing the right thing and championing the underdog. They were driven, smart, hard-working and competitive about pursuing greatness, but never competitive with each other. That holds true to this day.
Being a family business turned out to be a huge advantage. We each have different strengths and grew the company in different directions, but always in total alignment. And then we had the added benefit of many incredible leaders and team members who helped build and strengthen this company from day one. As James Clear writes in Atomic Habits, “If you get 1% better each day for one year, you’ll end up 37 times better by the time you’re done.” That compounding effect, embraced across an entire organization, is unbeatable.
Fundamentally, what we do is just different. We advocate exclusively for tenants—the businesses that make the economy thrive, that provide jobs for our communities and that are the lifeblood of the commercial real estate ecosystem. Having only one fiduciary to serve is absolutely foundational to our success.
Jason: The first thing we got right was our culture, which became the foundation of our company. Our original team spent an entire day determining who we are, what we wanted our company to represent and how we wanted to treat people. The outcome was our core values, which have been the cornerstone of everything we do as a company.
Beyond culture, several early decisions proved critical. We stayed focused exclusively on corporate tenants, because trying to also represent landlords creates a gigantic conflict of interest. We built a more sophisticated service model, giving our advisors multiple levels of support, exponentially more than any competitor, which translates into better outcomes for our clients. We invested heavily in technology. And our communication, both internally and externally, is likely one of the best in the industry. We make our decisions through the lens of “Will it make our team proud?”—a litmus test that we learned while spending time with Starbucks legend, Howard Schultz.
Q: What are some of the best aspects of growing the company over the last 15 years? What are you proudest of?
Shay: Helping people change their lives for the better. Whether a client’s company is scaling rapidly and we ensure real estate is one thing they never have to worry about, or they’re struggling and we help them make changes that keep the business alive, the impact is enormous. While we often say we aren’t saving lives, we are making a real difference in our communities and the greater business world.
I’m also incredibly proud that our own team members have experienced life-changing success here, from financial security to having a place that is nurturing, challenging and full of people they genuinely respect. There are countless people at this company whose trajectories changed because of what we’ve built together.
Jason: I’m proud of so many amazing aspects of growing our company! Most revolve around seeing individuals on our team grow. We have operations team members who have blossomed from entry-level positions to leaders, and we have our advisors who have become top national industry professionals. I am most proud of helping people reach levels they might not have even believed were possible. It is very fulfilling to play a supporting role in their success.
Q: What are some of the greatest memories from the past 15 years?
Shay: Having our entire family meet with Howard Schultz for two hours is one of our greatest lifetime bucket list events. Howard has been Jason’s business idol for decades and he was one of the most gracious, generous and inspiring mentors we’ve ever met. He was incredibly giving with his time, and his advice was profound and has shaped our leadership in countless ways.
Another defining moment was opening our first office outside of San Diego. Tucker had just graduated with his Master’s in Real Estate at age 20, and we went to Orange County to find office space and a home for him on the same day. It was just Tucker and a desk—no team, no clients, no name recognition. Nothing but huge ambition and unrelenting determination. That office now has dozens of teammates and is hugely successful, and it changed the direction of our company forever. We’ve since opened 14+ offices around the country as a result of that initial leap of faith. There are a few quantum leaps we made as we grew Hughes Marino, and Tucker opening our Orange County office is certainly one of them.
Jason: I have too many to count, both with individuals as well as with the entire team. Fortunately, all of them include Shay, and most include our kids. Hard to beat that!
Q: What would you do differently, and what did you learn along the way?
Shay: We’ve learned so much along the way! Every company is different. There’s no playbook, so you’re constantly learning as you go. You have to have a strong “figure it out” gene and be comfortable making the best decision you can, even though sometimes hindsight is 20/20.
We’ve definitely had to develop thicker skin. We used to take it personally when someone would leave to pursue a new venture. Over time, we’ve realized that people need to live their lives and pursue their passions, and we can be proud of the role we played in their growth. No matter what happens, some things will never change. We are always going to be committed to providing an amazing environment for our team to thrive and to ultimately take incredible care of our clients.
One thing Howard Schultz shared with us that we live by every day: “Everything matters. Literally everything.” We treat every decision and every communication as if it’s the most important one we’ll ever make. That commitment to being impeccable has helped us make a lot of right decisions over the years.
Jason: I’ve learned that once you determine someone doesn’t have alignment with the company, there is virtually no amount of work that can course-correct the situation. They’re not bad people—they just don’t have the same drive, work ethic or belief system to succeed here. And when misalignment lingers, it becomes a contagion that affects others. You need to make the tough call sooner rather than later.
Q: What are you most excited about in the future?
Shay: Continuing to attract amazing people who make us better, smarter and stronger. One of the best things about growing over the past 15 years is that we literally get better with every new team member and every new market we enter.
And of course, our clients. We help some of the most innovative, inspiring companies in the world, and it is a true honor and privilege to support their growth. I can’t wait to see what the next 15 years hold for them—and for us.
Jason: I’m extremely excited about more companies understanding the significant benefits of tenant representation. Our tenant advisory, project management, lease administration, and planning and design services are best-in-class, and our growth trajectory proves the market is responding. The next 15 years are going to be remarkable.
Onward!
