Saturday, June 6, 2009

Grubb & Ellis|Commercial Florida Names Donald Lombardi to Head Tax Assessment Consulting Services in Tampa

TAMPA, FL - Grubb & EllisCommercial Florida has appointed Donald Lombardi (top right photo) director of Tax Assessment Consulting Services.

Jeffrey S. Sweeney, SIOR, president of Grubb & EllisCommercial Florida, which is associated with 130 Grubb & Ellis offices worldwide, said Lombardi holds Bachelors and Masters Degrees from California State University, Fullerton, and attended University of Florida for three years of post-masters studies.

Lombardi was formerly a vice president with CB Richard Ellis, and president of Lombardi Florida Land Consulting in Tampa prior to joining Grubb & EllisCommercial Florida.

“The economic downturn has generated an aggressive new attitude on the part of local government taxing authorities and most commercial property owners are seeing an expensive overlap between fair market values and assessed values,” said Sweeney.
He has a thorough understanding of real estate market forces and commercial real estate operations. His thorough understanding of property tax issues for all segments of commercial real estate will play a big role helping commercial property owners pay their fair share of taxes,” Sweeney said.

Lombardi will be working out of the Grubb & EllisCommercial Florida office in Tampa.


Jeffrey Sweeney, 407-481-5387
Donald Lombardi 813-639-1111

Diminished Buyer Pool in Miami Presents Opportunities for Retail Investors

MIAMI, FL— Retail properties in Miami-Dade County recorded negative net absorption in the first quarter as accumulating job losses stymied retail spending and forced merchants to vacate, according to a second-quarter Retail Research Report by Marcus & Millichap, the nation’s largest real estate investment services firm.

Additional increases in vacancy are expected during the remainder of 2009 as more tenants close and others reduce planned store openings.
“Investment activity has been quiet,” says Kirk Felici, (top right photo) regional manager of the Miami office of Marcus & Millichap.

“For prospective buyers, though, a lack of velocity and a thin investor pool could signal that now may be an opportune time to buy.”

Following are some of the most significant aspects of the Miami Retail Research Report:

· Employment in the county will decrease by 43,000 jobs, or 4.2 percent, in 2009, compared with a loss of 36,400 positions last year. Due to the decline in employment, retail spending is projected to fall approximately 10 percent this year.

· Developers have projects totaling 600,000 square feet slated to come online in 2009, which will expand retail stock 0.8 percent. In 2008, nearly 2.2 million square feet was completed.

· Supply growth will be minimal this year, but demand will remain soft, leading to a 180 basis point increase in the vacancy rate to 8.5 percent. Vacancy rose 160 basis points last year.
· Waning space demand will produce a 4.1 percent decrease in asking rents in 2009 to $23.59 per square foot, compared with a 1.4 percent rise last year. A 5.6 percent decline in effective rents to $20.36 per square foot is projected, one year after effective rents slid 1.7 percent.

For a copy of the complete Miami Retail Research Report, as well as reports on other markets nationwide, visit our website at

Press Contact: Stacey Corso, Communications Department, (925) 953-1716

Grubb & Ellis Promotes 11 Top Producers

CHICAGO, IL – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, has promoted 10 professionals to executive vice president from senior vice president and one professional to senior vice president status.

The new executive vice presidents are:

John Gavin (top right photo),
Jim Kerrigan (top left photo),
Paul Lundstedt (middle right photo under John Gavin photo),

Vineet Sahgal (middle left photo under Jim Kerrigan photo),
Jay Stewart (middle right photo under Paul Lundstedt photo),
Sven Sykes (middle left photo under Vineet Sahgal photo),
Tom Tunnicliff (middle left photo under Seven Sykes photo)

Tom Volini (middle right photo under Jay Stewart photo )
George Cushing (bottom right photo)
Tom Page (bottom left photo)
Jeff Perpich, new senior vice president, bottom left photo under Tom Page photo)

“The consistently high performance and commitment to superior client service demonstrated by these distinguished individuals set the standard for professionals throughout our company and the entire industry,” said Jack Van Berkel, chief operating officer of Grubb & Ellis and
president, Real Estate Services.

“We are very proud of what they have achieved during their careers and couldn’t be more pleased to have them on our team.”

Lundstedt and Gavin, comprising one of the leading institutional investment teams in the Chicago area, joined Grubb & Ellis’ Institutional Capital Markets group in February of 2009 from Cushman & Wakefield, where they served as executive directors in the Capital Markets Group and were consistently ranked as top producers nationally.

Lundstedt and Gavin have participated in major disposition and recapitalization projects with a total value in excess of $15 billion and $10 billion, respectively.

Kerrigan joined Grubb & Ellis in September of 2008 to lead the company’s National Data Center practice group.

Previously, he was a principal with Staubach and then Jones Lang LaSalle, where he represented clients such as DuPont Fabros, Equinix and SAVVIS Inc.

Kerrigan is a member of the data center organization 7x24 Exchange International, the Chicago Office Leasing Brokers Association, and is a director on the University of Illinois Real Estate Forum.

Sahgal, who joined Grubb & Ellis in 2005, represents a number of national tenants in multiple markets, including, for which he negotiated the lease for the company’s 150,000-square-foot downtown Chicago headquarters in 2008.

Previously, he was senior vice president of the Corporate Advisory/Tenant Representation practice at Jones Lang LaSalle, where was elected to the Jones Lang LaSalle Club recognizing the top five percent of the firm’s officers.

Sahgal has transacted over 6 million square feet of lease transactions in his career and has been consistently recognized at Grubb & Ellis Company’s Circle of Excellence.

Stewart and Tunnicliff, who joined Grubb & Ellis in 2007, are one of the most successful tenant representation teams in the metropolitan Chicago area.

Representative clients include Harley-Davidson Financial Services, Inc., Environ International, Forsythe Solutions Group, Inc., Summit Marketing, Stifel, Nicolaus & Company, Incorporated, Wells Fargo and Xchanging, Inc.

Previously, Stewart and Tunnicliff were executive vice presidents with Trammel Crow Company, and principals and managing directors at the John Buck Company.

Sykes, a director in the company’s Tenant Advisory Group, represents clients on a national basis including Hallmark Corporation, NAVTEQ and HNTB.

Over the course of his 24-year career, he has completed more than 800 office leasing assignments totaling more than 18 million square feet. Prior to joining Grubb & Ellis in 2003, Sykes was an executive director of Insignia/ESG’s Chicago office.

Volini joined Grubb & Ellis’ Tenant Advisory Group in 2001 and represents office tenants on a national basis. A 15-year veteran of the industry, Volini has completed tenant representation assignments totaling more than 8 million square feet with total consideration in excess of $2 billion.

Since 2003, he has consistently been an honoree at Grubb & Ellis' Circle of Excellence awards, ranking him among the top brokerage professionals companywide.

“George (Cushing) and Ken (Page) have demonstrated high integrity and consistently excelled throughout their careers,” said Berkel. “We are very proud of what they have achieved as industry professionals and couldn’t be more pleased to have them on our team.”

With more than 32 years of experience, Cushing specializes in the sale of retail investment properties. He has qualified six times for the Circle of Excellence, which recognizes the company’s top brokerage sales professionals, and serves as a member of Grubb & Ellis’ Brokerage Leadership Board.

Since the year 2000, Cushing has facilitated the sale of 97 shopping centers throughout Texas and the U.S. He was ranked the No. 1 broker in Houston four of the last six years, ranked No. 1 in Texas in 2008 and has ranked nationally in the company’s top 10 brokers three of the last five years.

Page, a 25-year veteran of the commercial real estate industry, is responsible for real estate investment banking activities, including the marketing of investment property for sale in the Southwest region.

He is a member of Grubb & Ellis’ Institutional Capital Markets Group. He has sold more than 30 million square feet of space throughout his career and since 2006, space valued at approximately $1 billion.

Jeff Perpich, one of the premier management services and asset management professionals in the Midwest, has joined the firm as senior vice president, director of Management Services, effective immediately.

“The Chicago market has one of the deepest pools of real estate talent in the country, and we had a lot of very qualified candidates to choose from,” said Eric Forshee, executive managing director, Grubb & Ellis Management Services, Inc. “Jeff quickly rose to the top of our list because of his vast experience in every aspect of our selection criteria. We are happy he decided to join our growing team of professionals.”

In this new position, Perpich will lead Grubb & Ellis’ property management team in Chicago and oversee and expand the company’s Management Services business in the Midwest markets.
Erin Mays, 312.698.6735,
Julia McCartney, 714.975.2230,
Damon Elder, 714.975.2659,

Marcus & Millichaps Promotes 3 to Regional Manager Posts


ORLANDO, FL-- Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Dan Colachicco (top right photo) regional manager of the firm’s Orlando office, according to Harvey E. Green, (bottom left photo) president and chief executive officer.

“Dan’s extensive commercial real estate brokerage skills and sales management expertise make him an invaluable resource to our agents and clients throughout Central Florida,” says Green.

Colachicco joined the Orlando office of Marcus & Millichap in 2004 as an office, industrial and retail investment specialist. He achieved associate status and earned a sales recognition award in 2007. Most recently, Colachicco was the sales manager in the Orlando office.

Prior to joining the firm, Colachicco owned and operated a commercial brokerage and development firm in Longwood, Fla. He also was the national site selector for a global executive suite company. As site selector, he expanded the company’s office portfolio from nine to 41 locations.


AUSTIN, TX--Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named J. Michael Watson (middle left photo) regional manager of the firm’s Austin office, according to Harvey E. Green, president and chief executive officer.

“Michael has been serving as the regional manager of the San Antonio office since May 2008 and he will now manage both offices,” comments Green. “His extensive management experience and his highly successful track record as an investment specialist make him an invaluable resource to our clients and agents in Austin, San Antonio and throughout Texas.”

Watson joined the Austin office as a sales associate in 2003. He was named a director of the firm’s National Multi Housing Group (NMHG) in 2006 and was promoted to senior associate. Watson became a member of the firm’s prestigious Seven Figure Club in 2007. He is the recipient of one National Achievement Award and three Sales Achievement Awards.

In November of 2007, Watson joined the management team as sales manager of the Houston office. Prior to joining Marcus & Millichap, Watson served as a U.S. Marine Corps officer for over 13 years, both on active duty and reserves, and also worked as a finance controller at Advanced Micro Devices in Austin. He holds a bachelor’s degree in geology and an M.B.A. from Texas A & M University.


HOUSTON, TX– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Brent Smith (bottom right photo) regional manager of the firm’s Houston office, according to Harvey E. Green, president and chief executive officer.

“Brent’s extensive experience in sales management and his successful track record as an investment specialist make him an invaluable resource to our clients and agents in Houston, throughout Texas and the southwestern United States.”
Most recently, Smith was the sales manager of the Austin office. He joined Marcus & Millichap in 2003 as an investment specialist focusing on shopping centers in southern Texas.

During his first year as a broker, he generated marketing assignments in excess of $28 million and closed more than $17 million in transactions. Also in 2003, Smith opened the firm’s San Antonio office. In 2004, he achieved associate status and in 2005, he was promoted to sales manager of the Houston office.

Prior to joining the firm, Smith spent eight years in the marketing. He co-founded the Yehti Corp., a software company for which he helped raise more than $2 million in private startup capital. He also managed product marketing for Dell Computer Corp.’s $4.5 billion Dimension product line and served as an operations manager for United Parcel Service.

Smith received a bachelor’s degree in finance and an MBA from The University of Texas.

Press Contact: Stacey Corso, Communications Department, (925) 953-1716