About NAI Legacy

The Legacy Team has been active in the real estate sector for over 30 years and through affiliated entities, has been involved in over $2B of tax deferred real estate investments. As a member of NAI Global, a leading global commercial real estate brokerage firm with over 7,000 professionals, Legacy has a national platform to identify, manage and lease opportunistic real estate assets.

Investment Strategy

We are focused on Industrial and NNN real estate assets in Florida and Texas. These two states are consistently ranked by industry experts as the most attractive commercial real estate investment markets in the U.S. based on economic drivers, demographic characteristics, population growth and the prevailing tax and regulatory environment.

Our targeted industrial assets include an array of property types including bulk, distribution and manufacturing facilities. Many of our existing assets, and targeted Opportunity Zone industrial assets, are “last mile” logistic facilities, consisting of fulfillment, distribution, and storage facilities.

In Minnesota, in addition to industrial assets, we invest in other product types that are specifically tied to an existing relationship with reputable developers, operators and brokers.

Our Team

Teddy Cashin,


Teddy Cashin is a Partner focused on asset and property management, as well as acquisition underwriting and legal due diligence. He currently oversees a diverse portfolio of commercial assets, totally approximately 1.2M square feet. He is also a partner and chief operating officer at Equity Commercial Management, where he is responsible for the day-to-day operations of the company, including overseeing vendors, responding to tenant needs, negotiating leases, preparing budgets, and marketing properties as needed. Teddy assists property owners with strategic planning related to asset disposition, repositioning, refinancing, and capital investments. Teddy oversees the financial performance of each property and manages the efficient operation of NAI Legacy client assets, from coordinating daily maintenance to preparing and executing long term strategies. In these roles, he meets regularly with tenants and works closely with brokers, contractors, vendors, and bankers.

Prior to joining NAI Legacy, Teddy worked for private commercial real estate development and investment firms in Chicago, Illinois, where he was responsible for investment underwriting, asset management, marketing, deal sourcing, and due diligence related to acquisitions and dispositions.

Teddy holds a Juris Doctor degree from Chicago-Kent College of Law and a Bachelor of Arts degree in economics from Northwestern University.

Gary Gabrielson,

Capital Markets

Gary is a Partner focused on Asset Management. Gary brings a rich history and proven track record to the company. After graduating from the University of Minnesota, he managed, leased and financed commercial projects for Eberhardt Company and Central Mortgage and Realty Trust. He later joined MEPC American Properties, an international real estate investment company, as VP of Investments where he was responsible for managing a five-state, 3.5 million square foot portfolio. After leaving MEPC, Gary formed multiple investment partnerships and real estate brokerage companies where he gained a unique depth of experience that spanned all aspects of the real estate industry, including sales, leasing, property management, finance and development. Gary also owns and manages Commercial Realty Advisors, a full service real estate company. Gary’s tenure in the industry, along with his diversity of experience, enables him to identify and implement creative and resourceful solutions for each and every transaction.

Jason Gabrielson,

Property Management

Jason is a Partner focused on Property Management & Leasing. Jason current oversees an office and industrial portfolio consisting of approximately 1.0M square feet. Jason is also a partner with Commercial Realty Advisors, were he serves as the Property Manager for a diverse portfolio of commercial real estate assets. Jason began his career as a residential realtor with Edina Realty where he worked for six years until deciding to pursue his interest in commercial real estate. Jason holds a Bachelor of Science degree in Finance, Speech Communications, and Art from the University of Minnesota.

Michael Houge,


Michael Houge is a Partner focused on NNN/1031 investment sales and the implementation of the company’s technology platform. Michael is a former Director with KW Commercial-Minneapolis after contributing for over three years as Vice President with Transwestern Minneapolis, where he co-directed the Investment Sales Group (ISG). Michael has over thirty years of experience in project leasing and investment sales. Michael is a specialist in the sale of net-leased investment properties, 1031 Tax Deferred Exchanges, and more recently, commercial real estate in the Bakken oilfield markets of North Dakota. Michael has completed over a billion dollars in investment property transactions. Michael has also leased over a million square feet as a landlord and tenant representative and is a frequent contributor and author in various real estate trade publications and speaks frequently on panels and conferences on investment sales, capital markets, marketing, the net-lease industry, 1031 tax-deferred exchanges and North Dakota real estate. Michael has also earned the two most prestigious designations in the commercial real estate industry: Certified Commercial Investment Member (CCIM) and The Society of Industrial and Office Realtors (SIOR). Obtaining both designations is a rare feat, since only approximately 850 of the more than one million REALTORs hold both. Michael has served as the President of the Minnesota Dakotas Chapter of both organizations.

Michael Klisanich,


Michael P. Klisanich has spent over a decade in the commercial real estate industry, transacting on over $750 million of investments. Currently, Michael is a Partner - Investments at NAI Legacy, focused on the acquisition and ownership of real estate assets Prior to NAI Legacy, Michael was with Minneapolis-based Hempel Companies, where he sourced and evaluated property level commercial real estate and development opportunities. At Hempel, he served as team leader on all acquisitions, spearheading and overseeing due diligence efforts on targeted acquisitions. Along with the Hempel principals, Michael helped launch a new separately managed company in the oil and gas midstream industry and was ultimately responsible for securing a $175+ million private equity partnership from a leading institutional infrastructure investor. Prior to Hempel, Michael worked at The Geneva Organization on the acquisition team, focusing on 1031 tax-deferral strategic investments. Throughout his career, Michael has specialized in the execution of complex and strategic investments and helped author and execute numerous capital raises across a broad range of sectors including commercial real estate, technology, and oil & gas. He is currently a member of the National Association of Industrial and Office Properties (NAIOP). Michael earned a Bachelor of Commerce degree (with honors) from the Smith School of Business at Queen’s University (located in Ontario, Canada).

Duane Lund,

Chief Executive Officer

Duane is the Managing Partner and CEO of NAI Legacy. He is a thirty year veteran of the real estate industry and is also the President of Exchange Realty Inc, a private investment firm that was focused on the acquisition and ownership of commercial real estate assets. Through affiliated entities, Exchange Realty currently holds positions in a diverse portfolio of real estate assets including industrial, office medical, retail, mini-storage and development land. Prior to Exchange Realty Inc., Mr. Lund was involved in the formation of several private and public companies including The Geneva Organization, Stonehaven Realty Trust, First Industrial Realty Trust and RESoft Inc. Mr. Lund has over ten years of direct experience in several public Real Estate Investment Trusts (REITs). Mr. Lund was the largest Umbrella Partnership Real Estate Investment Trust (UPREIT) partner in Stonehaven Realty Trust (AMEX:RPP), which was acquired by a private investment firm in 2003, a founding UPREIT partner and a Senior Regional Director for First Industrial Realty Trust, Inc. (NYSE:FR), and an UPREIT partner in Investors Real Estate Trust (NYSE:IRET). Prior to his REIT career, he was a Partner with The Shidler Group, a private real estate investment company. Prior to his real estate career, Duane was a CPA with KPMG Peat Marwick. Duane is the former president of the Wisconsin Real Estate Alumni Association, a current member of the University of Wisconsin Center for Real Estate, a former board member of the National Association of Industrial and Office Properties, and a former member of the advisory boards of the Midwest Real Estate News, the Minnesota Real Estate Journal and the KPMG Peat Marwick Alumni Association. He has been a keynote speaker at various industry events throughout the nation, providing expertise regarding capital market debt and equity structure, 1031 exchange strategies, REITs, and real estate acquisition and disposition strategies. Duane earned a Bachelor of Business degree in accounting and a Master’s degree in real estate from the University of Wisconsin-Madison.

Eileen Rose,


Eileen is a 20-year veteran of the real estate accounting industry, responsible for NAI Legacy’s corporate accounting, lease processing, tenant audits, budgeting, year-end tax preparation, and all property level accounting. Eileen works closely with our property owners, addressing their property accounting questions and assisting with other property management duties as needed. In this capacity, she regularly meets with tenants, contractors, and vendors. She also serves as a back up in handling tenant service calls. Internally, Eileen manages human resources, computer and telephone upgrades, and equipment purchases for the main office.

Prior to joining NAI Legacy, Ms. Rose served as Senior Accountant for Griffin Companies, Accent Companies, and Welsh Companies, Inc.

Targeted Markets

Austin | Dallas | Houston | Jacksonville | Miami | Minneapolis-St. Paul | Orlando | San Antonio | Tampa