John Blumer will join the firm as a managing director. Blumer joined CB Richard Ellis in the Fort Myers - Naples, FL office in 2003 where he was director of Asset Services. Matt Copeland was hired as an associate. Prior to this Copeland was director of leasing with Emmes, a real estate owner and developer in New York. Tracey Holehan was also hired as an associate. She joined from the Cordish Co. where she was a leasing agent. Kristina Kassolis will be responsible for representing retail property owners as an associate; and Jeffrey Hayes will be a sales assistant.
Prior to this expansion, CBRE primarily focused on landlord leasing in the Baltimore market, Bach tells GlobeSt.com. "We did very little tenant-rep leasing. Now with the team in place we expect to do investment sales, landlord and tenant rep leasing."
Bach will focus on investment sales. Copeland will focus on landlord leasing and Holehan will focus on tenant representation, according to Bach.
Naturally with a fivefold increase in manpower, CBRE expects retail transactions from its Baltimore office to increase exponentially. According to Bach, in 2006 the Baltimore office did approximately $50 million of retail transactions, $10 million of which were local deals. With the additional members of the retail team, those numbers are projected to increase to $110 million in transactions for 2007, $70 million of which will be in the Baltimore metro region.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
