PHOENIX-Following nearly two years of courtship, a CB Richard Ellis team has moved its office-market acumen to Colliers International Inc. Charles Miscio and Keith Lambeth come on board as senior vice presidents while Todd Noel gets a vice president's title and Michael Crystal starts as senior associate.
Mike Fitz-Gerald, managing director for Colliers' Phoenix office, says the quartet's hiring is consistent with a plan to continue growing and place greater emphasis in the coming year on strengthening its presence in the office market. “We've made giant strides in the past year in the office sector on the investment side. The Miscio team will help us dramatically increase our exposure in the market,” he says. “We already have excellent teams on staff, but because of the strength of the Phoenix office market, we really need four or five groups concentrating on different segments to be players in that market.”
Fitz-Gerald says the team enhances Colliers' platform because of its strength in building owner services and tenant representation. “All of this is geared to move us into a dominant role in the office market going forward,” Fitz-Gerald adds.
Miscio has been with CBRE since the 2003 purchase of Insignia. He says Colliers approached his team close to two years ago with an offer to move. “We were at a point in our careers when it wasn't the right time for us to make that move,” he explains. CBRE did not respond by press time about the team's exit.
However, Colliers' growth in the past 18 months and a growing emphasis on developing the office side changed things for the team. “Colliers has a tremendous industrial and retail division and I felt we'd complement the office brokers already here by coming over,” Miscio says.
Miscio also likes the idea of the team having a hand in what amounts to a ground-floor opportunity. “Our business model moving forward is to orient ourselves as a team specializing in both landlord and tenant rep,” he tells GlobeSt.com.
Miscio and Crystal will focus on the ownership and investment side of office assets. Lambeth and Noel will work on finding the tenants through already established contacts and leads. In addition, Lambeth will help grow Colliers' number of tenant representatives.
Miscio says the team is in negotiations for a 50,000-sf anchor tenant for 111 W. Monroe St., and will soon go to a best-and-final for the sale of a CBD building. More deals are in the pipeline. “We're looking at this move as a ground-floor, launching pad to the next level,” he explains. “We've always had great success, and believe Colliers' emphasis on 'entrepreneurism' will take that to the next level.”
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