Adam Barrett is a man of ambition. Adept at finding opportunities like diamonds in the rough, he and his company, BlackBay, are constantly evolving. Since his first real estate venture in 2005, while still an undergraduate student, he has grown his business from a one-man show into a multifaceted corporation. He leads a team of nearly 300 people, managing over 250,000 square feet of industrial space, over 600 residential units and 100,000 square feet of office space while operating several diverse businesses, collectively generating $150 million in annual sales.
Located in Halifax, Nova Scotia, BlackBay is an amalgamation of real estate development, real estate management, fuel stations, both franchised and independent restaurants and bars, landscaping, parts distribution, granite and tile businesses, and industrial metal manufacturing, all of which are run by the company’s collective management. Their diversity has various degrees of vertical integration, from tenant management to elements whose core business is real estate. BlackBay’s leadership team handles all aspects of operations, including development, accounting, and property management.
Adam’s primary objective in overseeing the growth and development of the company is finding new opportunities that will vertically integrate with his existing portfolio. “There are always two sides to a deal: the aspect of acquiring a new business and the real estate aspect. We’re able to see opportunities that others may not,” he says. Adam is well known within the real estate industry, both as an investor and as a developer. He is one of few in those ranks who restores properties instead of demolishing them. Using the existing architecture as inspiration, he and his team renovate each building into something unique. “I acquire properties and reinvigorate them,” he shares.
Adam thrives on challenges and the strategies required to overcome them. This mindset fuels the creative insight he uses to see the hidden potential in each new space. With real estate at the center of everything BlackBay does, it’s this keen eye that allows Adam to bring growth to the company, as well as jobs to the community. “We are a growing company,” he says. “We’re always looking to refine our current offerings and seek out new opportunities.”