PARSIPPANY, NJ-Continuing a push for strategic growth in the Northeast, Transwestern announced the hiring of three experienced executives who join New Jersey principal James Postell at the firm’s newly opened offices here at 300 Kimball Dr.
Matt McDonough makes the move from CBRE to become Transwestern’s new managing director. Rick Rizzuto, the company’s new vice-president, and James Byron, the new senior associate, were both previously with Cushman & Wakefield in New Jersey.
Transwestern, a privately-held company that specializes in commercial real estate services, investment and development, began forging a Northeast regional presence last year when it opened offices in Manhattan and Greenwich, CT. The expansion into New Jersey brought the number of Transwestern offices across the country to a new high of 31.
“Transwestern positioned itself as one of the few real estate services organizations able to buck the market trend with consistent strategic growth during the recent market downturn,” says Patrick Robinson, president of Transwestern’s Northeast region. It currently leases and manages over 1,200 properties, representing 258 million square feet of commercial space.
McDonough said that the New Jersey office will extend services throughout the northern and central part of the state. Postell and McDonough both have the most experience with commercial office property, and said their focus will initially be on that market.
Rizzuto brings his background as a retail specialist and Byron, whose background is in finance, brings his experience to bear as a senior associate in the company’s tenant advisory group.
Transwestern’s New Jersey office will represent both tenants and landlords and provide strategic investment services, property management, agency leasing, tenant advisory and investment management services to buyers and sellers.
The Kimball Drive address Transwestern now occupies has served as a State Farm operations center for almost a decade. State Farm announced last summer that it would move about 500 jobs to locations in New York and Pennsylvania as part of a company-wide cost-cutting measure.
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