Medina made the move on Monday without fanfare - just two weeks after Cushman & Wakefield's CEO of three years, Glenn Rufrano, resigned. In a statement, C&W's TriState president Ron Lo Russo confirmed that Medina had “transitioned out” of the company.

Asked whether Medina would be replaced, his written response was: “Cushman & Wakefield is re-evaluating its regional leadership. We have ambitious plans to grow to maintain our leadership position in the New Jersey market.”

Neither Hipschman or Medina commented specifically as to why Medina left C&W, although Medina said "it really had nothing to do with Cushman & Wakfield."

He said his decision “had to do with my future and how I wanted to work professionally” - and that CBRE presented him with “an opportunity that was optimal.”

Hipschman said CBRE is thrilled to be gaining the benefit of Medina's “large relationship network” and expertise in government affairs.

"One of the major components of transactional success today is the ability to work with municipal and state governments in facilitating approvals and financial packages that support business,” Hipschman said.

Medina, a former state Commerce secretary who helped author many of the state's business incentive programs, agreed the timing is propitious: “This personal transition for me comes at a critical time for the market, when the economy is really turning, when my business development acumen and skills are going to be able to be deployed to best use.”

Medina said he leaves behind “a lot of good friends” at C&W. “I am really wishing Cushman & Wakefield well,” he said. “They have treated me well over the years and we parted on good terms.”

Sources within C&W reiterated Wednesday that Medina had not been "poached" by CBRE, and that he had been dismissed from his post last week. Asked about that, Medina quipped, "I was unemployed for a weekend and it was pretty exhausting."

Medina joined C&W in 2002 as a broker after serving in Gov. Christina Todd Whitman's administration; he was promoted to executive managing director in 2005.