Jim Leslie will take the lead at international corporate real estate advisory firm Cresa, succeeding Bill Goade, who founded the firm in 1993.
Leslie comes to Cresa after serving as president and chief operating officer of the Staubach Company, a tenant representation firm that was acquired by Jones Lang LaSalle in 2008.
An advisor to the Cresa board of directors since 2002, Leslie is also one of the founders of the firm’s capital markets group. During his tenure at Staubach, the company grew in excess of 35 percent per year and shareholder value increased dramatically. He also was an officer or director of many of Staubach’s subsidiaries and affiliates. As a result of this experience, he has been involved with entrepreneurs and emerging companies consistently throughout his career and has been instrumental in the creation of more than 50 companies.
Leslie’s role in these enterprises has varied from accessing capital to setting strategic plans to establishing operating procedures. In addition to the Staubach Company, these companies have included Columbus Realty Trust, Amicus Partners, Sebring Capital Corporation and Ascendant Solutions Inc.
Currently, Leslie also serves on the board of directors of Stratus Properties and is chairman of the board of directors at Ascendant Solutions. Leslie began his duties at Cresa on May 1.
NREI spoke with Leslie about the future for Cresa and what lessons he brings to the firm.
An edited transcript of that interview follows.
NREI: You've been involved with Cresa since 2002, but what is it like to take the reins from the founder of the company?
Jim Leslie: It is a real honor and humbling to be given this opportunity to follow Bill. He has done an incredible job in building a complete offering of services focused exclusively on the occupier/tenant. The type of people he has attracted is exceptional throughout the country. It takes a lot of persistence and thoughtfulness to accomplish this without having to attract outside capital partners.
NREI: What is it about Cresa that attracted you to the company?
Jim Leslie: I think there is a tremendous opportunity for the company to get its story out and build some significant market share. It is kind of like someone spending a lot of time in the garage to build the perfect car and then rolling it out on the street to show it off. It is Cresa’s time to let people know how good it really is.
NREI: Where and how would you like to see Cresa growing in the next few years?
Jim Leslie: The main focus is fairly simple. We need to get out and tell the story. We have great people and systems but have not done a good enough job in letting the business community know about us. In addition, we need to let the rest of the industry professionals know more about our platform and execution abilities. I think doing both will dramatically increase our market share.
NREI: You have a lot of experience working with entrepreneurs and emerging companies. How does that perspective help you in your new role?
Jim Leslie: I have been fortunate to be involved with dozens of startup ventures and hundreds of entrepreneurs. Our national economy is relying on these entrepreneurs more now than any time in my business career. It is both exciting and scary to have the responsibilities of building a business. There are so many things you have towith and those things change as you grow your business. The key is how you deal with the current issues and opportunities while you stay focused on the future to anticipate what is next for your company. Very few people have that ability to be focused on the present but aware of what is next. It is important for entrepreneurs to recognize their abilities and accept transition when necessary. It does not make them any less of a success but will allow their respective organizations to go to the next level. I have been fortunate to see the good, bad and ugly of this transformation and hope to be able to help our leaders of each office get to the next level. I think they have the skill to do so but many do not know what that means. It goes with the old saying, “You don’t know what you don’t know.”
NREI: What is the biggest challenge for the company for 2012 and how do you see Cresa facing it?
Jim Leslie: Growth is always as challenge as it requires you to change how you have been doing things. I think we all get comfortable with our daily work routine and with other pressures of life it is easier to continue doing the same thing. We will all need to change how we approach our business. I don’t expect it will create more time requirements, but it will require us all to take a new and refreshed look at how we currently spend our time. Fortunately, we have a group of professionals that are excited about where we are and where we are going, [and] I sense they are all looking forward to getting to the next level.
Stuart Saft Moves to Holland & Knight
Stuart M. Saft has joined the law firm of Holland & Knight as partner and co-chair of its New York real estate practice group.
Saft, who has more than four decades of industry experience, comes from Dewey & LeBoeuf, where he was partner and chair of the firm’s global real estate practice. At Holland & Knight, he will work to expand the firm’s real estate practice in a range of activities, including major acquisitions, deal structuring, financing, leasing, development, condominium conversions and workouts.
Saft has worked on many of New York’s most noteworthy deals and his vast experience has particularly come in to play in navigating some of the most challenging real estate markets. In addition to the deals Saft structures, he also works on behalf of lending institutions in mortgage lending and workouts, and has provided counsel to clients on dealings with Fannie Mae, Freddie Mac and the Federal Home Loan Banks. He has also developed a subspecialty in privatizing public housing to provide home ownership and equity to its residents, and has worked with the Chinese and Russian governments in changing their forms of property ownership.
Saft is regularly interviewed by local, national and international press outlets on legal matters pertaining to business, residential and commercial real estate. He also writes frequently, including pieces that have appeared in the Wall Street Journal and the New York Times. He has authored 28 books on commercial real estate law.
Saft is currently chairman of the National Consumer Cooperative Bank and chairman emeritus of New York City's Workforce Investment Board. He is a recipient of the Theodore Small Award from the National Association of Workforce Boards for his work establishing the Family Centers after the September 11 terrorist attacks and the “Dedicated to Industry Award” from the New York Association of Realty Managers. He also has been selected into the American College of Real Estate Lawyers.
Eastern Consolidated Gains Two Star Players
Investment sales veteran Adelaide Polsinelli has joined Eastern Consolidated as a senior director to focus on a broad and diversified range of investment opportunities.
Teaming with her will be Robert Khodadadian, who is coming to Eastern after heading his own commercial real estate, Skyline Properties, for the past eight years. Before that, he was a sales director at Massey Knakal. Khodadadian has been named an associate director.
During her 25-year real estate career, Polsinelli, who most recently served as an associate Vice President at Marcus & Millichap, has sold over 800 properties, totaling over $4 billion in sales, in every asset class from multifamily, retail and office to SROs, IMDs, unsold shares, retail condos, loans, note sales, hotels, development and garages.
Polsinelli’s most noteworthy transactions include the Children’s Wear office building in Midtown, the Stefano Ricci retail flagship on Park Avenue, the famed Knitting Factory building in Tribeca, the Le Figaro Café building on Bleecker Street, the Interior Design Building in Midtown East, the former Chemist Club, which is now the Dylan Hotel on 41st Street, a 10-building/multifamily package in Astoria, and the development site now known as Eastbridge Landing at First Avenue and 34th Street. She is also credited with a $200 million hotel development on Broadway in Midtown.
At Skyline Properties, Khodadadian specialized in “quiet deals”— off-market transactions designed to provide a seller with total discretion and a buyer with a valuable asset. He was involved in nearly $100 million worth of these transactions involving a wide range of property types, including commercial, multi-family and mixed use buildings.
Both Polsinelli and Khodadadian are members of the Real Estate Board of New York.
Three New Hires at Avison Young
Michael Gottlieb and Martin Cottingham have joined Avison Young (AY) in New York as principles and Dana Trulis also joins that office as a vice president.
Prior to joining AY, Gottlieb and Cottingham worked in the New York offices of Grubb & Ellis, where Gottlieb led a top-producing transaction services team and Cottingham was a top producer in the corporate services area.
During his more than 30-year career, Gottlieb has completed millions of sq. ft. of transactions valued in excess of $2 billion and was most recently vice chairman, transaction services at Grubb & Ellis in New York. He has participated in all aspects of the real estate business, including property management, tenant representation, landlord agency, capital market transactions and the structuring of joint ventures. At AY, Gottlieb will focus on transaction management assignments.
Cottingham brings more than 17 years of experience to his new role at AY. He was previously managing director, corporate services group, for Grubb & Ellis, where he oversaw the firm’s corporate services effort in the Northeast region. The group offered corporate clients a full array of planning, financial analysis and portfolio management services via an integrated platform of quality standards, processes and account oversight.
Trulis also joins AY as a vice president in the New York office and will focus on business development. Most recently, Trulis worked in the corporate services group of Grubb & Ellis, where she served as a senior marketing coordinator. In that role, she assisted the team in the pursuit of new business and account coordination. She also acted as a coordinator of client services for the group as it sought to provide real estate strategy and program execution in the New York market for clients with multi-market global portfolios.
Prior to joining Grubb & Ellis, Trulis was a sales and marketing manager for Bravo Holiday Residences, a property management company, where she cultivated business relationships, implemented marketing strategies and supported existing client accounts for a portfolio valued in excess of $1 million.
Sperry Hires First Chief Platform Officer
Sperry Van Ness International Corporation has promoted Diane Danielson to the position of chief platform officer, a new role at the franchisor for commercial real estate brokerages. She is based in Boston.
Danielson is a former attorney, accomplished speaker, published author and widely recognized social media expert. Most recently, Danielson consulted for companies on growth strategies that integrate technology platforms with marketing and business development outreach. Previously, she was vice president of business development for corporate services and strategy at Spaulding & Slye/Colliers (now Jones Lang LaSalle) and was also head of marketing for Meredith & Grew/ONCOR (now Colliers International Boston).
Over the past decade, Danielson has been featured in publications like the New York Times and Forbes and has been a regular contributor to the Boston Globe and Entrepreneur.com. She has also spoken on leadership, networking and social media for companies including Johnson & Johnson, Amgen and EMC, as well as for organizations like NEHRA (New England Human Resources Association), NAIOP, International Facility Management Association and the Society for Marketing Professional Services.
Danielson has published several books, including The Savvy Gal’s Guide to Online Networking (or What Would Jane Austen Do)?. She also founded the award-winning Downtown Women's Club national network. In 2006, she launched the first social network for businesswomen in the United States.
Eastern Consolidated Brings on Associate Director
Alexander Erdos, a former Merrill Lynch wealth manager and an attorney, has joined Eastern Consolidated as an associate director, becoming the sixth lawyer at the firm. Erdos specializes in the sale and acquisition of commercial properties throughout Manhattan.
Before joining Eastern he specialized at Merrill Lynch in serving clients with complex trusts and estate needs. Earlier, he clerked at Liberty Mutual Group managing complex litigation matters for commercial clients and at Epstein, Lipsey & Clifford, P.C., where he handled civil litigation and real estate transactions.
Ten Promotions at C&W
Ten Cushman & Wakefield (C&W) professionals have been promoted.
Robert Donnelly, Jr. has been promoted to the position of executive vice president at C&W in Morristown, N.J. He joined the commercial real estate services firm 10 years ago and specializes in commercial leasing and sales.
He has been involved in transactions on behalf of clients, including AT&T, Alcatel-Lucent, BASF, General Electric, JP Morgan Chase, Verizon, Pfizer and Hewlett Packard.
He is an active member of C&W’s metropolitan area capital markets group, which specializes in investment sales of office, industrial, multifamily and retail properties throughout New Jersey, New York, Connecticut and Pennsylvania. In this role, Donnelly has been involved in more than $1.6 billion in sales, including corporate and investment assets. He has led the team’s expansion into middle-market transactions less than $20 million.
Donnelly is also part of the leasing team and has concluded strategic leasing assignments including tenant representation, landlord representation, sublease dispositions and build-to-suit lease transactions. Currently, he leads the marketing efforts for Headquarters Plaza, the 700,000-sq.-f.t office and mixed-use complex where C&W maintains its Morristown offices.
Clark Finney has been promoted to senior director.
Finney was a key part of a tenant representation team that completed one of the largest deals of the year in Manhattan, a 900,000-sq.-ft. North American headquarters relocation and expansion for Nomura Securities.
Finney was selected and featured in Crain’s October 2011 issue, highlighting 10 commercial/residential Manhattan brokers in a special section article titled, “Property’s Next Generation: 10 Brokers Under 30.” In 2009, he was named REBNY’s “Most Promising Commercial Salesperson,” recognizing the industry’s leading professional with five years or less experience.
David Malawer has been promoted to senior director.
Over the past 15 years, Malawer has been involved in more than 10 million sq. ft. of leasing transactions and has represented such firms as NBC, Crowell & Moring LLP, Bingham McCutchen, Pepper Hamilton LLP, Shaub Ahmuty and Citrin & Spratts LLP.
He has also represented nonprofits and organizations, including the NYC District Council of Carpenters Pension Fund, the Ohio State Teachers Pension Fund, Organization Resources Counselors, Inc., Education Development Council (EDC) and Major League Baseball.
David McBride has been promoted to senior director.
In 2011, McBride represented Sandler O’Neill & Partners LP in a 75,000-sq.-ft. lease relocation and expansion at 1251 Avenue of the Americas. Additionally, he represented JPM Chase in the disposition and marketing of approximately 400,000 sq. ft. at 277 Park Avenue and 180,000 sq. ft. at 237 Park Avenue.
Previously, McBride was part of C&W’s Consulting Group, where he advised brokerage teams and clients on determining optimal real estate-based financial and transactional methodologies. He advised such clients as Citrix, Con Edison, andCorporation on real estate transactions aimed at maximizing critical benefits, including cash flow, GAAP/financial statement reporting and capital structuring.
Jonathan Scibilia has been promoted to director.
Scibilia’s current focus involves strategic planning and execution of leasing strategies for various landlords and multinational retailers. The retail clients he represents include Moncler, Les Copains, Tibi, Pomellato, Brioni, Breil, LVMH, LEGO, Marimekko, Pandora, Magaschoni, Bosideng, Poltrona Frau, Cappellini and Cassina.
On the landlord and developer side, Scibilia represents the Savanna Fund, Kingsville Investments, Inc., New York Life, 112 Greene Street Partners, Rabina Realty, Peninsula Hotels, Centaur Properties and United American Land.
Alisa Amsterdam has been promoted to associate director.
Amsterdam came to C&W in 2003 as a research associate and joined the retail services group in 2006. She specializes in both tenant and landlord representation. As an owner representative, she has worked with landlords, including Millennium Partners, Morgan Stanley, Hines, Eastgate Realty, Zeckendorf Development, Glorious Sun and the Racquet & Tennis Club.
On the tenant representation side, Amsterdam is on a team that represents both Crate & Barrel and Trader Joe’s on their ongoing expansion efforts throughout New York City. In addition, she has worked on behalf of notable national and international retailers including Federal Express, Wachovia Bank, Equinox, Lacoste, The New York Running Company and Skechers.
Sarah Mohr Fabian has been promoted to associate director.
Fabian specializes in both tenant and landlord representation. As a tenant representative, she has participated in lease executions on behalf of retailers such as The North Face, Anne Fontaine, Prada, Longchamp, Bottega Veneta, De Beers, Vilebrequin, Bonpoint, Jacadi and Baccarat.
On the landlord side, Fabian has experience in the Madison Avenue market as well as SoHo, and has been involved in arranging transactions with some of the most prominent retailers in the country.
Prior to joining C&W, Fabian spent several years in sales and buying for leading apparel retailers. She worked as an account executive at Liz Claiborne in sales for major department stores, Bloomingdales, Saks Fifth Avenue, Macy’s and Dillards for Laundry by Shelli Segal, a leading contemporary women’s brand. She was also an assistant buyer for specialty retailer New York & Company.
John Fitzsimons has been promoted to associate director.
He is currently handling assignments for ING Financial Services, G2 Trading, Well Real Estate Fund and the PGA Tour. He recently completed transactions for China Construction Bank, National Australian Bank, The Tourist Office of Spain, Dysen Kissner Moran, Samsonite, The CFA Institute, Carnegie Associates, Blackpoint Partners, The Tuttle Agency, Indorse Technologies, LaSalle Investment Management, Hart Howerton and JCJ.
William Levitsky has been promoted to associate director.
Levitsky is currently involved in the representation of many Plaza District financial and professional service firms, including AdMeld, Inc., Genesis Philanthropy Group, MDRC, Beck, Glynn Melamed & Muffly LLP, International Master’s Publishers, PrinceRidge Holdings, Dabroes Management LP, Latus Partners, T-Mobile, Fieldpoint Private Bank, Marsh & McLennan Companies and Velti USA.
Prior to joining C&W, Levitsky worked in the residential and commercial mortgage market where he performed private client and corporate credit analysis to identify appropriate lending strategies. He previously worked at Insignia Douglas Elliman, where he primarily worked on condo/coop sales.
Michelle Walker has been promoted to senior associate in New York.
Walker specializes in both landlord and tenant representation, with a background in real estate consulting, strategic planning and transactional services. She is currently one of the agents at 1412 Broadway.
Prior to joining C&W, Walker was a lead analyst in the Office of Program Evaluation and Risk Analysis at the Internal Revenue Service. She was responsible for directing evaluation studies to determine the restructuring and consolidation of over 900 IRS offices around the country. While at the IRS, Walker specialized in Workflow Analysis and assessing and developing process efficiency improvements.
New Hires to Lead Jones Lang LaSalle in New England, Atlanta
Jones Lang LaSalle has hired Frank Petz to lead the firm’s overall capital markets business for New England.
Petz was hired by the firm as a managing director and New England capital markets and will focus on debt finance, equity placement and investment sales. He comes to Jones Lang LaSalle from Richards Barry Joyce & Partners, following experiences at both Eastdil Secured and CBRE│Melody.
Petz is a member of NAIOP, the Urban Land Institute and the Real Estate Finance Association. He is also actively involved in the Big Brothers Big Sisters Association of Massachusetts, as both a board member since 2002 and as a Big Brother since 2001.
Rob Metcalf has joined Jones Lang LaSalle as senior managing director and leader of the firm’s brokerage group in Atlanta, covering tenant and landlord representation in office and industrial services.
A 26-year industry veteran, Metcalf joined Jones Lang LaSalle Atlanta in 2007. He recently represented companies such as Novelis, tvsdesign, United Health Group, Kemira Chemicals, Assurant Group and BB&T in office lease transactions ranging from 46,000 to 170,000 sq. feet of office space.
Notably, Metcalf and his team represented Novelis Inc.in its 125,000-sq.-ft. global headquarters relocation, which won the Atlanta Business Chronicle's 2010 Office Deal of the Year award. He is a member of CoreNet Global, NAIOP, CCIM, Atlanta Commercial Board of Realtors and Georgia State University Real Estate Alumni.
New Executive VP at Winick Realty Group
Kenneth Hochhauser has joined Winick Realty Group LLC in New York as an executive vice president and will be assisting in both tenant and landlord representation.
Hochhauser comes to Winick from Newmark Knight Frank where he was senior vice president. He is a member of REBNY and the International Council of Shopping Centers.
CIS Honored by Affordable Housing Finance Magazine
Community Investment Strategies Inc. (CIS) has been named among the nation’s top affordable housing development companies, based on the number of units under development, by Affordable Housing Finance.
The New Jersey-based CIS is a fully integrated real estate organization specializing in multi-family housing, including 55+, senior housing and mixed-use redevelopments, as well as market-rate and affordable housing.
The for-profit company’s diverse portfolio includes more than 2,000 apartment-rental units located in the northeast, with a high concentration in New Jersey. The list includes leading national and regional developers who broke ground on a total of 232 new construction projects featuring 19,053 affordable housing units nationwide last year. This marks the first ranking for CIS, which was recognized for its completion of Water’s Edge Crescent in Elizabeth, N.J., and lease-up of Cape Manor, a special needs community in West Cape May, N.J.
CIS is currently expanding its development and redevelopment activities within urban and suburban areas to incorporate market-rate and affordable housing components, as well as special needs housing. The company also is partnering with community groups and public officials to identify potential opportunities to restore distressed neighborhoods.
Since its founding in 1994 as a woman-owned business enterprise, CIS has developed a broad spectrum of multifamily properties, ranging from garden apartments to mid- and high-rise complexes, valued in excess of $350 million. In addition to CIS, the company’s affiliates include CIS Construction LLC and CIS Management Inc.
Cassidy Turley Expands in L.A.
Cassidy Turley is opening a Los Angeles office and has made four new hires to staff the new office.
Jonathan Larsen will head the office as regional managing principal; Suzanne Lee will serve as managing director, principal; Eric Moore is the new managing director, principal; and Katie Bernhisel is vice president.
All members of the new Cassidy Turley team most recently worked in Transwestern’s Los Angeles office, where Larsen oversaw the west region brokerage group. The team focused on tenant advisory, agency leasing and investment sales.
Larsen, a 25-year industry veteran, also served on the board of directors during his tenure at Transwestern. His prior experience includes 15 years with Trammell Crow, where he was a principal and launched, managed and operated its profitable downtown L.A. office.
He specializes in representing tenants for all office and industrial real estate needs and has extensive transaction experience including leasing, investment sales, buy-outs and sale/leasebacks. Larsen’s prior work experience also includes his role as first vice president at CBRE. He is consistently ranked among the top real estate professionals in L.A. and is recognized as a top broker by CoStar and the Los Angeles Business Journal.
Lee most recently served as vice president of Transwestern’s tenant advisory services group and has deep industry experience representing clients in the financial, technology, entertainment/media, professional services, nonprofit and government sectors, as well as experience in project leasing, acquisitions and sales. Before joining Transwestern in 2006, she worked at Trammell Crow Company and prior to that, at Colliers International. Lee also spent seven years in marketing and product development in the technology industry, working with a wide range of corporate clients. She was honored in 2009 by Real Estate Southern California with its Women of Influence Award.
Moore brings to Cassidy Turley 25 years of tenant advisory experience, spanning multiple industries and a broad spectrum of client requirements, including leasing, acquisition-disposition projects, early renewals and lease restructuring. Moore most recently served as senior vice president of Transwestern’s tenant advisory services group. He focuses on advisory services for corporate clients and nonprofit organizations and specializes in market analysis, transaction strategy and process. Moore has completed over 6 million sq. ft. of transactions in all brokerage service lines throughout the West Coast. Previous work experience includes his roles as vice president at Trammell Crow Company, Studley and Koll Development, as well as his senior associate role at CBRE.
Bernhisel most recently served as senior associate for Transwestern’s Los Angeles tenant advisory services group. She is responsible for marketing new business and maintaining existing regional and national client relationships. Prior to joining Transwestern she served as a portfolio leasing manager at Arden Realty. In this role, she managed and coordinated all facets of the commercial lease process including marketing, lease negotiations, space planning, lease preparation, construction and final move-in for a portfolio of 2.1 million sq. ft.
New Assistant VP at New Day
New Day Underwriting Managers LLC, an environmental and construction-related professional liability resource for insurance agents and brokers, has promoted Maureen Efthyvoulou to assistant vice president, underwriting support and compliance.
Efthyvoulou joined New Day in 2005 as one of its first employees. Since joining New Day as an account manager and aiding in the development of the office’s procedural policies, Efthyvoulou’s responsibilities have continually expanded from office management to her current role in compliance, claims processing and supervision of the account management team.
Prior to New Day, Efthyvoulou was assistant vice president for Aon Risk Services, where she supported the company’s Fortune 100 and 500 customers.
Balke Brown Transwestern Expands
Balke Brown Transwestern is adding third-party multifamily management to the service portfolio at the privately-held St. Louis, Mo. commercial real estate developer, manager and brokerage firm.
As part of that effort, the company is adding Christopher Zoellner, founder of Clayton, Mo.-based retail specialist Foundation Commercial, and some of that company’s brokers to the Balke Brown brokerage division.
It has also hired Deanna Haas as vice president of residential management and is forming a new multi-family management division that will initially employ 15 people. The new division will pursue third-party management opportunities in Illinois and Missouri.
Foundation Commercial specializes in retail brokerage and tenant representation. Zoellner, with 17 years industry experience, will join Balke Brown as senior vice president – retail. Joining him will be Foundation brokers Jared Hancock and Mike Hurley and marketing director Sarah Saputo. Foundation currently markets more than 65 properties and land parcels in Missouri and Illinois and is tenant representative for more than 25 companies, including Bridgestone/Firestone, CVS Pharmacy, MassageLuxe, Qdoba, Texas Roadhouse and White Castle.
VP and Marketing Director Hired at KBS Capital Markets Group
KBS Capital Markets Group, an affiliate of KBS Capital Advisors and KBS Realty Advisors, has added Jonathan Thomas as vice president and director of marketing. In his new position, Thomas will lead all KBS Real Estate Investment Trust strategic marketing functions, including activities such as campaign development and sales-support initiatives. He will be based at KBS-CMG offices in Newport Beach, Calif.
Thomas comes to KBS-CMG from Edelman Financial Services. Most recently, as director of marketing for the Fairfax, Va., company, he developed marketing and branding strategies to attract retail and institutional clients, increase assets under management and expand key business lines.
Prior to Edelman, Thomas was vice president of marketing at SunAmerica Retirement Markets in Woodland Hills, Calif., where he directed corporate marketing and communications, cross product promotions, firm launches and national branding.
MNS Launches Investment Sales and Capital Advisory Division
MNS, a residential brokerage and sales and marketing firm with offices in Manhattan and Brooklyn, has created a new investment sales and capital advisory (ISCA) division. Under the direction of President and MNS Partner David Behin, the ISCA is a boutique advisory service specializing in development consulting, funding, marketing and sales of real estate opportunities throughout Brooklyn, Manhattan and Queens.
In the few months since its inception the ISCA has already brokered several high-profile new development sites, including the St. Vincent de Paul church in N. Williamsburg, a 75,000-sq.-ft conversion site, and the note for 53 Broadway, an 80,000-sq.-ft piece of vacant land in South Williamsburg. In addition, the firm has raised over $14 million in equity for new development projects.
ARC Healthcare Gains CEO of Advisor
American Realty Capital Healthcare Trust Inc. appointed Thomas D’Arcy as chief executive officer of its advisor.
D’Arcy comes to the New York-based ARC Healthcare after serving as president and chief executive officer at Grubb & Ellis since November 2009. He was also a member of its board of directors.
Prior to Grubb & Ellis, he was a principal of Bayside Realty Partners, a private real estate company focused on acquiring, renovating and developing land and income-producing real estate. Before that, he served as president and chief executive officer of Equity Investment Group, a private real estate investment trust, and as chairman and chief executive officer of Bradley Real Estate, Inc., a NYSE-listed REIT.
Bradford Allen Makes Two Promotions
Bradford Allen has promoted two directors, Ben Azulay and Joel Berger, to the post of senior managing directors.
Azulay will lead the downtown Chicago office’s brokerage team while Berger will manage the suburban brokers from the firm’s office in Oakbrook, Ill. Both Azulay and Berger will be responsible for day-to-day management of their teams as well as mentoring, recruiting and training.
Azulay has 10 years of experience in commercial real estate and strategic planning. He joined Bradford Allen in 2004 and specializes in tenant and landlord representation for privately held organizations in Chicago’s Loop and North Suburban markets, including Medspeed, BPG Properties, Foundation Content, Networked Insights and Public Allies.
Berger comes to his new position at Bradford with more than 10 years of experience in commercial real estate and business-community relations.
He joined Bradford Allen in 2004 and specializes in providing brokerage services for office tenants and landlords throughout the Chicago metropolitan area, including MYR Group, Automated Engineering Services, Cinch Connectors and Heartland Healthcare/HCR Manorcare.
New Director Joins ML Realty
ML Realty Partners LLC has hired Enrique Nevarez, Jr. as director at the firm.
Nevarez will as an asset manager for the Itasca, Ill.-based ML Realty. In this capacity he will be responsible for managing property portfolios including budgets, analysis, value creation and the contractual relationships. Nevarez was previously employed with ProLogis as a property/asset manager assisting with the coordination, negotiations and development of several large industrial/office portfolios.
New Executive VP at Brackett Flagship
Brackett Flagship Properties LLC has hired Jason Hinkel as executive vice president – development for the Charlotte, N.C.-based healthcare real estate company.
Hinkel will be based in Atlanta and is responsible for expanding Brackett Flagship's development presence and capability throughout the Southeast. Most recently, Hinkel served as a senior vice president with Duke Realty overseeing development and operation of their Southeastern healthcare portfolio. Before Duke, Hinkel was a vice president for Cogdell Spencer Advisors where he was responsible for the oversight of new project development and property management in the Carolinas and other areas where CSA developed new facilities.
CoreNet Global Awards Sprint and CBRE with Industry Excellence Nod
CoreNet Global honored Sprint and CBRE Group Inc. with the 10th Annual Industry Excellence Award.
The award spotlights management practices and work processes that lead to world-class, superior performance and desired, measurable and sustainable results. As part of the honor, CoreNet recognized the team’s Innovation Council for its collaboration on a robust mobile site assessment application. CoreNet Global is the world’s leading corporate real estate association.
CBRE Group’s application leverages Sprint’s Android wireless/mobile technology and CBRE’s site management database to facilitate project planning and storing site information, site surveys and hundreds of photos. The resulting effort created a more comprehensive and accurate site assessment and inspection process, reduced cycle times on the order of 2.5-3 hours per site, and increased cost savings in preventative maintenance.
C&W Team Wins REBNY’s 2011 Deal of the Year Award
Cushman & Wakefield’s Tara Stacom, vice chairman, and Michael Rotchford, executive vice president and head of investment banking, won the first place Henry Hart Rice Award at the Real Estate Board of New York’s sales brokers committee cocktail party on May 2. The pair won the first prize award for “Transforming a White Elephant Into A Precious Jewel: The Leasing of 1 World Trade Center.” The ceremony was held at the 101 Club at 101 Park Avenue.
A Cushman & Wakefield team, which was led by Stacom and Rotchford and included Louis Wolfowitz, executive director, collaborated to negotiate a new agreement between the Port Authority of New York/New Jersey and site developer Silverstein Properties Inc., and a joint venture between the PANYNJ and The Durst Organization, which ultimately led the way for the lease to Condè Nast for approximately 1.2 million square feet. The leasing team, which includes Jeff Cushman, executive managing director; Alan Stein, executive director; James Searl, senior director; and Jodi Pulice, founder and president of JRT Realty Group, a Cushman & Wakefield strategic alliance partner, was selected to spearhead office leasing for the iconic office tower, which is now the city’s tallest building.
The Deal of the Year award is given to the transaction whose brokers have used resourcefulness and ingenuity in originating the transactions and seeing them through to completion.