LOS ANGELES-GlobeSt.com has learned exclusively that Brad Burton has joined CBRE as a senior VP in the investment sales division. He will be working with vice chairman and managing director of the western institutional group Kevin Shannon's team in his new position.
Burton, who joins CBRE from Coastal Realty Capital, tells GlobeSt.com that he will be working “primarily office, but occasionally some different products.”
He is part of a CBRE team that handles institutional office sales throughout the west coast.
“Brad is a valuable addition to our team due to his extensive experience in all west coast real estate markets,” Shannon tells GlobeSt.com. “A long-time principal that really understands the owner's perspective, his long tenure at Archon leading their valuation and disposition activities has positioned him as a respected veteran in our industry. The addition of his senior leadership ensures that our team's clients will continue to enjoy extraordinary service as this cycle matures and sales velocities continue to increase.”
Burton's view is that current acquisitions and dispositions action varies. “It depends on which submarket,” he says. “Things are turning around, with a lot of people who were looking at core now priced out and looking at core-plus and value-add. Some people are being pushed into tertiary markets, and lenders are pushed into the markets.”
As reported earlier by GlobeSt.com, CBRE also hired Patrick McRoskey late last month. The new managing director will lead the firm's efforts in leasing, property and project management on a portfolio of class-A office properties.
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