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GlobeSt.com EXCLUSIVE: Mitch Steir and Co. Take the Reins at Studley

NEW YORK CITY-GlobeSt.com has learned that the deal is done, and Mitch Steir is now at the helm of Julien J. Studley Inc. Michael Colaccino and Mark Jaccom were also part of the management buyout. A new board is expected to be installed shortly.

By John Salustri | Updated on December 16, 2002

NEW YORK CITY-After months of speculation and rumor, GlobeSt.com has learned that the much anticipated management buyout at Julien J .Studley Inc. is complete, with Studley himself replaced by vice chairman Mitch Steir, effective immediately. While Steir takes on the title of chairman, Studley will assume a position akin to chairman emeritus. How much Steir and company ponied up was not revealed.

Steir takes a management team with him, including Michael Colaccino, now executive managing director, who becomes president, replacing Jacque Ducharme. Mark Jaccom, currently executive vice president, will head US operations. A new board of directors will be unveiled in the coming weeks.Studley founded the firm in 1954 with an emphasis on tenant representation. Today, with 15 offices and more than 500 professionals around the country, the firm offers real estate advisory sales, investment sales and design and construction management.

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