After 20 years in business as a land broker in Southwest Florida, Randy Thibaut isn’t slowing down.

He’s preparing for the next 20 years.

His Fort Myers-based company Land Solutions is expanding under a new name: LSI Cos.

LSI Cos. serves as the parent company for Land Solutions, Development Solutions and LSI Commercial, a new division focused on the acquisition and sale of properties and land suitable for commercial development.

“The expansion is a culmination of looking back at the last 20 years — the success we’ve had and the business we’ve done. What was done was we specialized in large land tracts and property for development.” 

With fewer large land tracts available in Southwest Florida because of so much development over the last two decades, Thibaut said it made sense to expand his company’s offerings to include improved properties.

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“We can’t just keep doing the things that we have always done,” he said.

The expansion of the family-owned business also makes sense because Randy Thibaut’s son Justin is now a part of it, bringing his own unique talents and experiences to the table after working in the corporate world for the former Bechtel Corp. and Chevron. 

One day, Justin Thibaut, 31, expects to take over the business, allowing it to pass to a second generation.

“Obviously in 20 years I won’t be here running the company and Justin will,” Randy Thibaut said. “So this was the time to say, ‘We’re all in to this.'” 

Justin Thibaut, who has served as a director of sales for Land Solutions, has a new title. He’s chief operating officer for LSI Cos. In that role, he now oversees the daily operations of all three subsidiaries.

The younger Thibaut has brokered more than $100 million in transactions since joining the real estate firm in 2016. A graduate of the University of Florida’s construction management program, he worked in the corporate world for the former Bechtel Corp. and Chevron before returning to Southwest Florida.

“After getting out and getting some real-world experience, I feel like this is the right place for me to apply my talents,” Justin Thibaut said.

In the nuclear power and oil and gas industries, he helped build, engineer and manage major capital projects valued at $500 million to $1 billion.

Now Land Solutions will be more involved in the purchase and sale of developed property in many sectors including office, industrial and medical. New team members have been added to support those new services.

The expanded offerings also include appraisal services, which will be especially important in a changing market, Thibaut said.

“There are people who really want to have a finger on the pulse of what is going on, from a market standpoint,” he said. 

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Land Solutions has brokered the sale and acquisition of hundreds of properties in Southwest Florida. That includes the land for the new Daniels Marketplace anchored by Whole Foods in Fort Myers and University Highlands along the rapidly developing Ben Hill Griffin Parkway corridor.

Considered an expert in his field, Thibaut offers his insight into the local real estate market every year at the News-Press Market Watch event. The event is the biggest of its kind east of the Rockies and this year it attracted a crowd of about 1,200.

Development Services, which specializes in determining the feasibility of proposed projects and obtaining zoning and other entitlements for builders and developers, is already doing business in the five counties, but Randy Thibaut sees an opportunity to grow its reach with the addition of more employees including younger professionals with fresh ideas.

LSI Cos. will continue to serve the same types of clients — homebuilders, developers, landowners and investors.

Behind the scenes there have been other changes including new branding and technological upgrades to position the company better for future growth.

A little over a year ago, the real estate firm moved to a larger headquarters, just north of the Hammond Stadium in Fort Myers, where the Twins hold spring training. The new location spans roughly 8,000 square feet.

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“It doubled our space and it also gave us the ability to be more efficient with our staff and for accommodating our clients,” said Randy Thibaut. 

The firm now has nearly 25 employees. There are plans to hire another five to 10 employees over the next five years.

With more people joining the business and his son running the day-to-day operations for the three divisions does that mean Randy, 56, is thinking about retirement? Not at all. 

“I’m not slowing down. I’m embracing my new role as the CEO of the companies,” he said.

Now he’s focused on the long-term success of the company and looking for new opportunities to grow the business, including investment partnerships. He’ll also work to ensure the companies have a strong foundation financially and serve as a mentor to Justin and “his crew,” he said.

Is Randy worried about competition from other commercial real estate firms that have offered his expanded services for years in this market? It doesn’t seem so.

“We’ve always enjoyed healthy competition in our market, in Southwest Florida, and we continue to enjoy working in a healthy environment like that.”