(This story, in slightly different form, originally appeared in Incisive Media's Daily Business Review.)
MIAMI-South Florida commercial real estate veteran Hank Klein is leaving his post as executive director of Cushman & Wakefield's Florida operations at the end of the month. Cushman's New York-based corporate executives last week notified Klein that his position will be eliminated.
Klein is the second major executive to leave the firm's Miami office. Tere Blanca, former senior managing director who recruited Klein two years ago, left the company in February to start her own firm.
Klein, a past chairman of the Greater Miami Chamber of Commerce and former president and chief executive of Codina Group subsidiary Codina Bush Klein, says he was not surprised his position was eliminated considering the troubled economy and real estate market. Cushman last October announced plans to eliminate 200 positions nationwide.
"There are no hard feelings on either side," says Klein, who planned to notify brokers in the firm of his imminent departure. He began his commercial real estate career with Cushman as a broker in 1981.
"The industry is going through as difficult of a time as I have seen it," he adds. "I plan on staying in the business I have known and loved since 1980."
Cushman corporate spokesman Dwayne Doherty declined to elaborate on the elimination of Klein's position or other potential personnel moves by the firm. "We valued the contributions Hank made and wish him well," he says.
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