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Hogan Real Estate founder hands over the reins to younger executive

Although the only properties listed on the company’s website are in Kentucky and Southern Indiana, Hogan Real Estate has done business in 20 states, he said. Clients include Starbucks, Kroger, Hobby Lobby, Speedway, McDonalds and of course Walgreens.

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Justin Phelps joked that he didn’t really get a choice when it came to becoming president of Louisville-based Hogan Real Estate.Company founder Glenn Hogan and he were talking about the future of the real estate firm when Hogan first brought up plans to take a step back from the day-to-day operationsHogan, who is in his mid-50s, will still hold the title of CEO and will remain involved in Hogan Real Estate, but to a lesser extent.“In order for Hogan Real Estate to continue to grow, I felt compelled to have it led by someone much younger, and there was no better fit to take on that leadership role than Justin,” Hogan said in a news release announcing Phelps’ promotion.Phelps, who is 36, has worked for Hogan Real Estate since graduating from the University of Louisville in 2003.“For me, it was a good company,” Phelps told Insider Louisville about his decision to stay with the firm for 13 yearsHogan Real Estate is “comfortable” and a “fair company” that treats its employees right, he added.He got into the real estate business because that is what his family didHis mom was a property manager who would tote him along as she visited properties, and family members on both sides operated Kroger stores in Kentucky.As a lifelong Louisvillian, Phelps has seen the city’s ups and downsWhile it currently is experiencing a boom in development and leaders like Mayor Greg Fischer talk about catching up to more rapidly growing cities such as Nashville or Austin, Phelps said he doesn’t see that happening.“Louisville’s just a steady town,” he said“I don’t think we will get to Nashville’s level or even IndianapolisI don’t think that’s a bad thing.”When the recession hit, Louisville’s market declined but not as badly as other cities, Phelps saidThe same is true during times of positive economic growth.“Louisville will never see the big downturn, and it will never see the big upturn,” he said, following it with an apology “if that sounds too depressing.”The city is slow to move forward, which some may view as a negative, but it helps keep cost of living low, Phelps said, and many everyday residents don’t seem to mind that Louisville moves at its own pace.Steady growth is what Phelps is looking for with Hogan Real Estate.As president, Phelps said he wants to keep the train on the track and grow the company’s existing services as well as its staffHe also plans to advertise Hogan Real Estate’s existing services more.Most people think “You are a development company, and you build Walgreens,” he saidBut Hogan Real Estate also provides investment services, site selection, leasing, property management, and property dispositions and acquisitions.“We’ve been doing that for a long time, but it’s just perception,” Phelps said.Although the only properties listed on the company’s website are in Kentucky and Southern Indiana, Hogan Real Estate has done business in 20 states, he saidClients include Starbucks, Kroger, Hobby Lobby, Speedway, McDonalds and of course WalgreensHogan Real Estate also recently added O’Reilly Auto Parts as a new client.“We are chasing projects left and right,” Phelps said, adding that he’s looking into entering the medical and industrial real estate industries — Hogan Real Estate mostly focuses on retail — and may even get into the multi-family residential market if it’s the right property Glenn Hogan, Hogan Real Estate, Justin PhelpsPrevious Business Story On fire: A look at the rapid expansion of Joella’s Hot ChickenNext Business Story The Closing Bell: Redfin hops into Louisville real estate market; Mojito expands; art groups aid Big Brothers Big Sisters; UPS predicts record holiday; and moreView Comments (function(d, s, id) { var js, fjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) return; js = d.createElement(s); = id; js.src = "//"; fjs.parentNode.insertBefore(js, fjs); }(document, 'script', 'facebook-jssdk')); if (window.innerWidth >= 768){ aj_server = ''; aj_tagver = '1.0'; aj_zone = 'louisville'; aj_adspot = '3806'; aj_page = '0'; aj_dim ='773'; aj_ch = '; aj_ct = '463574'; aj_kw = '269298'; aj_pv = true; aj_click = '; }; PopularAfter 71 long years, Louisville Slugger makes World Series bats for the Chicago CubsHere’s what Texas Roadhouse’s fast-casual brand Jaggers is likeImmigrant fulfills American dream with Louisville food truck if (window.innerWidth >= 768){ aj_server = ''; aj_tagver = '1.0'; aj_zone = 'louisville'; aj_adspot = '3807'; aj_page = '0'; aj_dim ='3767'; aj_ch = '; aj_ct = '463574'; aj_kw = '269298'; aj_pv = true; aj_click = '; }; SponsoredThe Palace VIP experience: no lines, prime seats, full-service everythingMovers, Shakers and Rainmakers, Oct27Oral health of Kentucky children is getting worseLooking to cut travel costs? 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