Limbo

The merriment of the holiday season and the New Year has yielded to the harsh reality that 2008 is going to be, at best, a very challenging year. Since the first of the year, I have talked to a wide range of real estate executives and, notwithstanding considerable and growing liquidity in the market (a unique aspect of this cycle), the consensus is that there is a rocky road ahead. Most of those with whom I spoke are sitting on the sidelines and taking a wait-and-see attitude on the economy, deal pricing and how the first quarter will play out. For at least the next few months, it looks like we are going to be in Limbo, with a low level of transactional flow and recruiting activity limited to must-hires, replacements and staffing for key strategic initiatives. The good news is that, in this environment, there is the potential for the situation to turn on a dime.





Job Opportunities
Holliday Fenoglio Fowler LP Real Estate Analyst (WASHINGTON, DC) Individuals would be responsible for executing real estate capital markets transactions for clients within a team environment. These transactions include sales, financings, joint ventures and equity raises for commercial real estate properties. Grubb & Ellis Co. Vice President/Data Center Portfolio Manager (MIDWEST or EAST COAST) This position will oversee the facility management of a portfolio of several data centers for a Fortune 500 client in the Midwest and East Coast. Prudential Investment, VP (PARSIPPANY, NJ) Job responsibilities include a focus on shopping center investments, sourcing new shopping center transactions, supporting the establishment of retail JV relationships and more.Fannie Mae Senior Director, Facilities Management (WASHINGTON, DC) The position is responsible for managing directors, project managers, consultants, and contract vendors. AMLI Residential Purchasing Manager (CHICAGO) The hire will be responsible for managing the purchasing function within AMLI’s property operations group. Specific responsibilities will include analyzing operational spending, consolidating spending and vendor usage, vendor evaluation and selection, and more. Paramount Real Estate Services Portfolio Controller (JUPITER, FL) Position reports to the CFO and responsibilities include, but not limited to, financial reporting and consolidation, monthly closing schedule, acquisition and disposition accounting, workpaper documentation and SOX compliance. RCLCO Senior Associate (LOS ANGELES)The associates participate in the facilitation of client’s advisory needs, developing innovative solutions to complex, high profile problems, leading to actionable solutions for implementation. Cleveland-Cuyahoga County Port Authority Chief Development Officer (CLEVELAND) The officer will be responsible for creating transformative regional strategies, developing and implementing initiatives to create large scale investment through complex financing strategies, and assembling and beginning investment in a portfolio of property projects.
Promotions No more than one submission per company will be considered per week. Submissions with multiple names will be capped at three for coverage in Executive Watch.
NBS REAL ESTATE CAPITAL (PORTLAND, OR) David Dewey earns a berth as senior vice president as he nears his second anniversary with the firm. CB RICHARD ELLIS (PHOENIX) Jerry Noble and Patrick Devine become first vice presidents after one year with the company. CALLISON (DALLAS and MEXICO CITY) Michael Martinez and Manuel Veytia are named directors for the retail design firm’s offices in Dallas and Mexico City, respectively. STREAM REALTY PARTNERS (DALLAS) Kyle Jacobs is made vice president in the tenant representation group. He returned to the firm in 2006 as an adviser after a one-year hiatus. BEAL COS. LLP (BOSTON) Stephen Faber is named senior vice president as he starts his 11th year at the firm. SPERRY VAN NESS ASSET MANAGEMENT & LEASING (IRVINE, CA) Donald J. Keena becomes vice president and regional manager. He had been a lease investment specialist for Sperry Van Ness Commercial Real Estate Advisors. METRO COMMERCIAL REAL ESTATE (CONSHOHOCKEN, PA) Glenn Marvin rises to partner. As a licensed broker in Pennsylvania, New Jersey and Delaware, he is a key member of the firm’s tenant representation teams. HGA ARCHITECTS & ENGINEERS (SAN FRANCISCO) Esther Gonzalez-Parber rises to associate from project manager. GREATER JAMAICA DEVELOPMENT CORP. (JAMAICA, NY) Justin K. Rodgers starts as the economic development director. He spent two years as the organization’s manager of business services. INTERCONTINENAL REAL ESTATE CORP. (BOSTON) Tracy Stewart is elevated to property accountant in the finance and accounting group, where she will assist the controller of the US Real Estate Investment Fund LLC.
New Hires No more than one submission per company will be considered per week. Submissions with multiple names will be capped at three for coverage in Executive Watch.
MARCUS & MILLICHAP CAPITAL CORP. (SACRAMENTO) Christopher Du Pont starts as an associate director after running his own firm, Du Pont Equities in San Diego. BEAL COS. LLP (BOSTON) Peter A. Spellios joins as senior vice president and general counsel. He most recently was a partner in Sherin and Lodgen LLP and chairman of its land use, permitting and development practice. TELES PROPERTIES (BEVERLY HILLS, CA) David Mossler joins the team as an agent, bringing John Iglar and Michael Phillips with him from his former firm, Mossler & Doe. GVA KIDDER MATHEWS (SAN FRANCISCO) Steve Bouret and Gregg Domanico, formerly with NAI BT Commercial, come on board to lead a Bay-area expansion, which include an office on the peninsula. Bouret was the founder and leader of NAI BT’s technology advisory group. Domanico led his former firm’s life sciences’ division. ADVANCE REALTY GROUP (LANDOVER, MD) The firm’s new property managers are Stacie Dawson in the headquarters office and Quicha Tresvant in the Chantilly, VA office. Dawson has returned to the company after a stint as a property manager for NAI the Michael Cos. Inc. Tresvant comes from Monument Realty LLC. GREINER-MALTZ (LONG ISLAND, NY) George Margaronis starts as an associate broker for sales and leasing in the Brooklyn and Queens commercial and industrial markets. LINCOLN EQUITIES GROUP (RUTHERFORD, NJ) Daniel S. Ackerman holds onto the title of senior director of leasing in the move from Mack-Cali Realty Corp. RBI RETAIL BROKERS (RIVERSIDE, CA) Angie Aragon starts as a retail specialist after three years as a Grubb & Ellis Co. associate. LANDMARK LAW GROUP (LOS ANGELES) Attorney Darren L. Hereford joins the firm from Weston Benshoof, where was a partner in the firm’s real estate practice group. HAMPSHIRE COS. (MORRISTOWN, NJ) Brian Keary comes on board as assistant asset manager to support the Hampshire Legacy Fund portfolio. GRUBB & ELLIS CO. (NEW YORK CITY) The company adds three directors: John Oliveri, John LaRocca and Lauren Davidson. Oliveri most recently was director of retail brokerage for Eastern Property Associates. LaRocca was founder and president of Ideal Futures Inc. Davidson came from Cushman & Wakefield Inc., where she was a global business development associate.

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