Chief Financial Officer
BSBA, West Virginia University, 1980 – Concentration in Accounting
As Glenmark Holding Limited Liability Company’s Chief Financial Officer, Nicola “Nick” Colasante is responsible for the financial stewardship of the Company, including capital and operating budgets, financial affairs and reporting, procurement and debt/treasury management.
Since joining Glenmark in 1994, Nick has proven to be a valuable asset to the team. His financial guidance has contributed greatly to the Company’s overall growth. With a reputation for accuracy and comprehensiveness, Nick’s efforts have been significant in providing Glenmark Holding with the figures and projections it has needed to achieve its remarkable growth rate of 26.2% between 2000 and 2010.
Prior to his position as Chief Financial Officer, Mr. Colasante represented Glenmark Holding Limited Liability Company in the capacity of Vice President of Business Development; a position he held since 2001. Nick commenced his career with Glenmark Associates, Inc. in 1994 in the position of Division Controller of the Horizon Medical division of the company. Preceding this time period, Mr. Colasante, who is a Certified Public Accountant, was employed in the financial management field and held the titles of Partner with a local public accounting firm to Vice President and Controller with a publicly-traded healthcare company. With Glenmark Holding, Mr. Colasante has been involved with all phases of project development, from site selection and acquisition through design, construction, financing, marketing, leasing, and property management oversight.
In his business development position, Nick became the initial point of contact and liaison for the varied clients and tenants of Glenmark. Over the years, Glenmark has identified itself as a leader in the real estate development business in the greater Morgantown area. Mr. Colasante, through his personal commitment, has taken pride in developing and sustaining long-term relationships with the tenants and clients of the firm.
Mr. Colasante is responsible for the preparation of all Glenmark Holding’s financial statements, including the pesentation of annual reviewed reports and future forecasts. He is in charge of cash management and banking relationships. Further responsibilities include financial matters of acquisition and development of properties which includes projections and budgets, offering memorandums, debt commitments, and closings. Mr. Colasante prepares the financial analysis in business consulting contracts and lease contracts. Additionally, Nick is in charge of investor relations as it pertains to quarterly reporting and distributions, and tax reporting. Further duties include a support function in the marketing of Glenmark’s property portfolio, the handling of the leasing and sales inquiries, client site selection, financial analysis, property management coordination, attention to tenant expansion needs, and addressing of lease renewal projects.
Nick brings a broad range of talent and experience to his position; he takes a detailed, hands-on approach in understanding and responding to each tenant’s needs. His creativity and broad background in business make him a valuable asset in the development process. Customer service and satisfaction are the ultimate goals whether it is a complex build-to-suit long term lease project or a smaller property management issue. Nick has ensured tenant turnover is proudly maintained below industry standards. All clients, whether a national corporation, or a local mom and pop operation, are responded to and serviced in a professional, prompt, and courteous manner on a daily basis.
Mr. Colasante also has extensive experience working with both state and federal government agencies in the planning, design, and development of new agency leased facilities. Nick has been successfully involved in achieving LEED certification status for two GSA projects while overseeing the tenant improvement component of those long term lease projects. Additionally, Mr. Colasante was involved in the design of a real estate investment venture utilizing tax conservation easement benefits by strategically giving up property rights in exchange for income taxation benefits.
Mr. Colasante has been an active participant both in the community and in charitable areas. He served as a Board member of his church (St. John’s Parish) and was the past Treasurer of the Morgantown Area Chamber of Commerce. He is a current member of the American Institute of Certified Public Accountants. A Morgantown native, Nick and his wife Brenda have two children.