"Michael brings 15 years of superb experience and excellent negotiating skills to the table," I/ESG chairman and CEO Stephen B. Siegel tells GlobeSt.com. "But his greatest strength is business development. Mike built his career on sourcing his own opportunities. We're grateful he chose our platform." Siegel adds that hiring Burgio was "opportunistic more than strategic, although he fits in very well with the disciplines he has and the types of tenants he has pursued over the years."
Burgio says he believes the new environment will enable him to improve on his already strong Cushman track record. "I'm doing the same thing only better, I hope," he tells GlobeSt.com. "They have a very strong platform here and a tremendous amount of resources. I would suspect the majority of my clients will follow me, if not all."
In addition to his attraction to the Insignia platform, Burgio cited a desire to resume his 13-year partnership with Eric Deutsch as a motivating factor behind his decision to leave C&W. Deutsch is a senior managing director at I/ESG who also recently left Cushman & Wakefield.
Burgio has extensive experience on both the agency and tenant rep sides of the business. His major deals include representation of BMW of North America in securing Manhattan headquarters space in a transaction totaling 213,000 sf. Also, he recently negotiated a transaction on behalf of Federal Express Corporation for the development of a 218,000-sf build-to-suit distribution center on the West Side. In addition, Burgio represented the ownership of Exchange Place Centre, a 700,000-sf building in Jersey City, throughout the 1990s. The facility's occupancy rate jumped from 35% to 95% during that period and was ultimately sold in 1999 at 100% occupancy.
After joining Cushman in 1984, Burgio ranked among the firm's top 40 brokers nationally for 10 consecutive years and reached the top 10 twice. In the past two years, he has landed in the top 25 from a national field of more than 800 brokers. C&W did not comment on the move.
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