High & Dry Storage

Last week I read a fascinating article about former Federal Realty Investment Trust CEO Steve Guttman who is now in the business of developing a 280,000-square-foot high-tech storage facility in Queens, NY. He is out to house fine art, antique furniture, and other very expensive "bobbles" that the uber-rich and famous, notable museums, and others who just so happen to need climate-controlled space for their expensive "stuff." Think about it, while the world is paying up for data center rack space and cell towers on highways and by-ways, there is a market craving to pay big bucks per square foot of rack space for their Picassos. This is what I love about America. A former REIT CEO figures out that Manhattan needs a fine art storage facility, but the extra juice in the deal, after hurricane Sandy, is that his facility is 16 feet above sea level, so when the polar ice caps melt, the fine "stuff" will be safe and sound on high ground!

Tony LoPinto is the Global Sector Leader of Korn/Ferry International's Real Estate Practice and founder of SelectLeaders. The views expressed in this article are the author's own.



CANADA POST
General Manager, Real Estate Strategy, Planning
(OTTAWA/TORONTO) Reporting to the vice president of real estate, the general manager, real estate strategy, planning and business integration, this position will lead the design, development and implementation of Canada Post's transformative real estate strategy. The general manager will play an integral role in ensuring that all planning activities will provide fully integrated business frameworks and functions that align real estate's strategies and goals with corporate direction, while optimizing space utilization and investment decisions, and managing costs.

C.B. RAGLAND COMPANY
Controller/CFO
(NASHVILLE) The CFO will examine how to enhance growth, profitability and value creation by evaluating internal operations, cash management strategy, the effective use of corporate assets, and by understanding the financial and operational needs of a growing business. In addition, the Chief Financial Officer will have accountability for building and leading a skilled bookkeeper and increasing the overall financial acumen of the company.

CUSHMAN & WAKEFIELD
Portfolio Manager
(NEW YORK CITY) Primary duties include managing the operation of the portfolio. Additional responsibilities include customer service and support, financial performance of the portfolio, management staffing and development, reporting, and training plus involvement in acquisitions and third party management and development. Bachelor's degree required, CPM designation preferred. A minimum of 5 years multi-site property management responsibilities required.

PRUDENTIAL
Principal, Agriculture
(FRESNO, CA) With oversight from Southwest Regional VP, this position will manage all aspects of loan origination process, including presentations to senior management, debt structuring, pricing strategy, transaction negotiation and closing, and due diligence review; perform marketing activities for business development with prospective borrowers while maintaining and building enduring relationships with existing clients; and work with senior management and staff on a wide variety of assignments, including cash flow modeling, risk analysis, agriculture real estate valuations and the use of proprietary internal "quality rating" models and loan templates.

EQUITY ONE
Analyst
(DALY CITY, CA) The analyst will be responsible for supporting the asset manager, regional president and regional leasing and property management teams in all aspects of the Northeast portfolio operations. Individual will be accountable for developing cash flow projections, NPV analysis and other analyses as required for a variety of different scenarios including potential leases, re-developments, developments, and potential acquisitions/dispositions. The role requires an in-depth knowledge of financial concepts and a rigorous attention to detail.

JONES LANG LASALLE
Strategic Sourcing Manager
(MINNEAPOLIS) This position is responsible for developing, leading and executing commodity sourcing strategies on behalf of JLL's Fortune 500 client, including both facility and project services scope. Specific duties include managing Alliance Partners to ensure excellent service delivery for the client; driving client initiatives across the portfolio, including cost saving and best value initiatives; supporting QBRs for the account and attend QBRs for JLL strategic partners and client Alliance Partners; and closely participate with the client and Jones Lang LaSalle Sourcing and facility management team to drive both immediate and sustained benefits to the client.

ARBOR COMMERCIAL MORTGAGE, LLC
Structure Finance Associate
(UNIONDALE, NY) The associate will be responsible for the timely analysis and underwriting of assigned loans. Responsibilities include: financial analysis of historical and projected operating performance of all property types, mortgage credit analysis of the borrowing entity and underlying entities and/or individuals, market demographics, appraisal, Phase I and property condition assessment review, zoning review, and review of building code and other jurisdictional records specific to the collateral property.

CIM GROUP
Vice President - Infrastructure
(LOS ANGELES) The position will be responsible for leading a transaction from sourcing to disposition; source water infrastructure and other infrastructure transactions that align with CIM's investment strategy and underwriting criteria; manage such assets through acquisition, ownership and disposition; provide direction and oversight to the Associate, AVP, coordinate with other internal departments on the deal teams, and oversee investment structuring alongside the Oversight Principal in order to enhance returns and mitigate risks; and assume responsibility for the preparation and/or review of Investment Committee Memos and financial models to ensure that the investment structuring concepts are fully addressed in the underwriting.


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MARCUS & MILLICHAP
(SEATTLE) Marcus & Millichap Real Estate Investment Services promoted Christopher R. Secreto to associate vice president investments. Most recently a senior associate, Secreto joined the firm in July 2004 and was promoted to associate in 2008.

SRS REAL ESTATE PARTNERS
(DALLAS) SRS Real Estate Partners (SRS) announced that two new market leaders have been selected to lead the offices in Dallas/Ft. Worth and South Florida. Mark Reeder has been chosen as the new market leader for the Dallas/Ft. Worth office. He has been with SRS since 2000. John Artope has been selected to lead the office in South Florida. He started with SRS in 2002.


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CBRE GROUP
(LOS ANGELES) CBRE Group, Inc. has appointed Blake R. Hastings as managing director of its Minneapolis office. Hastings was previously with Cassidy Turley/BRE in Phoenix, where he was a senior vice president.

NELSON MULLINS
(ATLANTA) Two attorneys have joined Nelson Mullins Riley & Scarborough LLP's growing commercial real estate group in its Atlanta office. Andy Litvak joins as a partner, and Anne Marie Garavaglia joins as of counsel. Litvak represents developers, retailers, special loan servicers, private equity investment groups, and investors in the acquisition, leasing, financing and development of commercial properties. Garavaglia is a former vice president for JPMorgan Chase Bank.

SPERRY VAN NESS
(MIAMI) The firm named David Wells, managing director of Wells Net Lease Group. The group heads SVN's net lease division focusing on single-tenant credit-rated retail assets across the country.

FISHER BROTHERS
(NEW YORK CITY) Fisher Brothers announced that Marc Packman joined the company as director of leasing. He comes to Fisher Brothers from Trinity Real Estate, where he served as senior vice president and director of leasing.

AVISON YOUNG
(DENVER) Avison Young announced the opening of a newly-formed office in Denver. Alec Wynne joins as a principal and managing director of the Denver office; Justin Rayburn joins as a principal; and Phil Ruschmeyer as a senior vice president. Wynne and Rayburn were most recently with iCG Denver. Ruschmeyer was formerly president and chief executive officer of Denver-based The Ruschmeyer Corporation.

SIMON PROPERTY GROUP
(HANOVER, MD) Elizabeth Natwick, a marketing professional with a background in strategic retail sales and promotional programs, was recently named director of marketing and business development at Arundel Mills, an outlet and value-retail shopping destination. Natwick most recently held a senior level position at Tysons Corner Center as the senior marketing executive.


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