Since joining CBRE in 2002, Reicher has negotiated close to one million sf on behalf of Bloomberg LP and led the team that renewed the 380,000-sf lease held by law firm Fried, Frank, Harris, Shriver & Jacobson at One New York Plaza. Before switching to commercial real estate brokerage, Reicher rose to partner in Fried Frank's real estate department. His other clients during his CBRE tenure have included Marsh & McLennan, Guy Carpenter, the Port Authority of New York and New Jersey, Empire Blue Cross, the Conference Board, Duquesne Capital, the Legal Aid Society, Kaye Scholer and Jackson Lewis.
[IMGCAP(2)]Reicher's brokerage practice has also included landlord representation and investment sales work. As agent for the General Motors Building at 767 Fifth Ave., owned by Macklowe Properties until the trophy tower's sale to Boston Properties (http://www.globest.com/news/1165_1165/newyork/171072-1.html) in late May, he closed more than one million sf of lease transactions. Last August, Reicher arranged the extension and expansion of Cravath, Swaine & Moore's 617,000-sf lease at Worldwide Plaza, another Macklowe property.
In March of this year, Reicher was part of the team that closed the $525-million sale of Altria Group's headquarters at 120 Park Ave. (http://www.globest.com/news/1034_1034/newyork/165951-1.html) on behalf of Altria, together with the leaseback of 100,000 sf at 120 Park by Altria and Philip Morris International. He was responsible for the 2004 sale (http://www.globest.com/news/20040109/newyork/88478-1.html) of Kraft's 625,000-sf former headquarters in Rye Brook, NY, also on Altria's behalf.
While Reicher moved into brokerage after practicing real estate law, Rapp's entire 20-year career in this industry has been at CBRE. To date the youngest CBRE tri-state executive to be promoted to vice chairman, Rapp has completed 300-plus lease transactions in his career, representing more than 10 million sf and an aggregate value north of $8 billion. He specializes in representing corporations with operations in Midtown or Downtown.
Since 2006, Rapp has coordinated more than 700,000 sf of transactions for longtime client Legg Mason, including three space dispositions totaling in excess of 200,000 sf; 300,000 sf of relocations in Manhattan (http://www.globest.com/news/678_678/retail/148293-1.html) and an additional 200,000 sf in a Stamford, CT (http://www.globest.com/news/758_758/stamford/149792-1.html) lease restructure. He has also arranged 450,000 sf for Aon Corp., 250,000 sf for Simpson Thacher & Bartlett, 230,000 sf for Hogan & Hartson, more than 500,000 sf for the City of New York and 100,000 sf for AIG SunAmerica Asset Management.
Rapp has also worked extensively with the Capital Group Cos., Cap Gemini, Apple Computer and Colgate Palmolive. On the agency side, his assignments have included the General Motors Building, 55 Water St. and Three World Financial Center.
In a prepared release, Mary Ann Tighe, CEO of CBRE's New York tri-state region, calls Rapp's career "a road map for our firm's developing brokers." Noting that Reicher achieved "elite status" as an attorney before moving into commercial real estate, Tighe comments, "It is rare to find someone who can excel at such a high level across multiple disciplines, but Craig is that person."
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
