Over the past few months I have focused this column on the demise of numerous businesses whose space has yielded to digital solutions. Well, yesterday there was a pivotal move in the advertising-agency space as giants Publicis and Omnicom announced a $35 billion merger to battle the accelerating transition of the balance of power to digital media. Silicon Valley behemoths such as Google and Facebook, who provide digital ad space automated online, scraping the intermediary ad agencies, now represent 22% of advertising spend, and are growing rapidly. Ad agencies for sure aren't going away tomorrow, but they are shrinking rapidly, and the Publicis and Omnicom merger is testimony to the new reality. This also represents, yet again, another business segment whose real estate occupancy will decline. Granted, Google and other Silicon Valley users are expanding rapidly, evidenced by Google's growth in New York City. However, they are orienting to what were fringe locations in aggregately lower occupancies than the advertising giants. This spells trouble for core markets where we have already seen law firms, investment banks, and other large users evaporate or dramatically reduce their office occupancy.
ROSS STORES, INC.
VP, Corporate Properties
(NEW YORK CITY) The position will support the operational and strategic property activities associated with the Northeast buying offices. Responsibilities include: internal relationship management, external vendor management, space planning, project management, facility management, budget preparation, cost management, workplace safety and operational efficiencies.
(CHICAGO) Primary responsibilities include developing and implementing marketing policies and activities such as market research, advertising and promotion, new business development, and strategy; responding to and resolving strategic marketing-related questions and disputes escalated by the field manager(s); traveling to field offices for on-site marketing training and education sessions; conducting quarterly conference calls to present latest marketing tools and resources; monitoring marketing materials for brand compliance, quality, and consistency; and analyzing commercial real estate trends and consults trade journals to monitor market trends and determine market opportunities for new business.
CUSHMAN & WAKEFIELD
Senior Brokerage Coordinator
(IRVINE, CA) Specific duties include coordinating marketing, research, and financial analysis efforts, as it relates to marketing packages; preparing marketing materials including Offering Memoranda, request for proposals and other marketing packages; identifying critical messages and key selling propositions; organizing transaction documents, including confidentiality agreements, leases, contracts, listings, closing documents, etc., to ensure that all parties have copies of required documents; handling client contact, including database management; and discussing vacancies/rates with clients, cooperating brokers, and prospective tenants.
Marketing Officer - Global Real Estate
(HARTFORD, CT) The position will provide marketing strategy and support for Global Real Estate - US investment capabilities across various market segments; develop, drive and execute systematic marketing plans for the institutional promotion of our real estate investment capabilities; create marketing plans that encompass all phases of the marketing cycle: prospecting, finals and client management; bring together investment management and sales to identify target segments, develop the messaging and positioning of the capability by segment, and develop the marketing and communications necessary to support the promotion of the resulting strategy; market both domestic and global real estate capabilities to US institutional investors; and manage the efforts of the business in finals presentations and meetings with clients and consultants.
Senior Director Real Estate
(PHILADELPHIA) The senior director real estate development (asset development) is responsible for planning managing and negotiating real estate development projects, ground leases, air rights projects, property acquisitions and dispositions in support of real estate development projects required to increase revenue, generate income from under-utilized assets, reduce expenses and risk of exposure and enhance passenger service. This position will be responsible for the acquisition, disposition and leasing of corporately occupied office and certain other strategic assets nationwide and provide real estate management and advisory services to meet the needs of other Amtrak departments in the NEC and support of all other real estate development units.
Senior MI Analyst
(LONDON) The senior analyst will drive, lead, manage and deliver the CRES MI reporting strategic agenda including MI in response to executive requirements; build group wide relationships as well as with key Barclays vendors in order to drive the management information agenda; design MI reporting in an efficient manner including streamlining processes for effective production; create key innovations within MI reporting and presentation strategy within BCRES including online and digital formats; deliver highly complex detailed MI and analytics in response to Management requirements, including analysis for development of options in response to Executive requirements; and build relationship management with Key Stakeholders within BCRES.
Tax Credit Asset Manager
(BOSTON) This position is a tax credit asset manager, managing equity investments in real estate. The tax credit asset manager will provide a single point of contact with general partners and internal departments regarding assigned assets; independently manage a portfolio of investments in real estate partnerships; identify and analyze issues, and recommend and execute action plans; monitor investment and property performance; analyze tax returns and property and sponsor financial statements; review third-party inspections and reports on compliance with Low Income Housing Tax Credit (LIHTC) regulations; review requests for capital contributions and reserve releases; and underwrite general partner consent requests (including loan refinances and changes in partnership structures) and present to a committee.
HOLLIDAY FENOGLIO FOWLER, L.P.
Real Estate Analyst Investment Sales
(CHICAGO) The position will prepare commercial real estate sales packages and submissions for presentations to buyers; respond to buyer questions regarding properties and the overall commercial real estate market; perform complicated financial modeling and spreadsheet analysis in Excel; prepare financial models in Argus; review legal documents and third party reports as part of the due diligence process; coordinate information regarding market data, occupancy data, expense analysis, aerials, maps, rent/sales, comparables; prepare market analysis reports, including vacancy, absorption, and comparable rents and sales; assist clients in preparing documentation for the closing process; and update data in company database.
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CHARLES DUNN CO.
(LOS ANGELES) Charles Dunn Company, a full-service regional real estate firm, has promoted Blake Rogers to managing director out of the firm's West Los Angeles office. Rogers specializes in the sale of multifamily properties and land for development within the greater Los Angeles region.
JACK RESNICK & SONS
(NEW YORK CITY) Lawyer Thomas Ruggiero, who joined New York's prominent owner/developer/management company Jack Resnick & Sons in 2007 to handle a wide variety of legal matters, has been promoted to associate general counsel at the firm.
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(TAMPA, FL) Colliers International Tampa Bay hired Mark Eliers as director of land services. He most recently worked for Newmark Grubb Knight Frank as a senior vice president.
CARRFOUR SUPPORTIVE HOUSING
(MIAMI) Carrfour Supportive Housing, a nonprofit affordable housing developer, named Anthea M. Pennant as director of fund development and external affairs. Prior to joining Carrfour, Pennant served as director of development and external affairs at Feeding South Florida.
MARCUS & MILLICHAP
(BROOKLYN, NY) Marcus & Millichap Capital Corporation (MMCC) has named Steven Etienne as an associate in the firm's Brooklyn office. joining MMCC, Etienne worked with Fountain Realty Group as a commercial leasing associate.
WEICHERT COMMERCIAL BROKERAGE
(MORRIS PLAINS, NJ) Michael Kearns has joined Weichert Commercial Brokerage as sales associate. Prior to joining Weichert Commercial, Kearns was and continues to be managing director for Point Capital Markets where he introduces private equity deals to high net-worth individuals.
PENWOOD REAL ESTATE INVESTMENT MANAGEMENT
(HARTFORD) Penwood Real Estate Investment Management hired Howard Freeman as managing director of acquisitions, Zachary Flynn as associate – acquisitions and Nicholas Balkun as analyst. Freeman, who opened Penwood's New Jersey office, was with Cohen Asset Management. Flynn was an analyst at Hartford Investment Management. Balkun recently graduated from the University of Connecticut.
DIVARIS REAL ESTATE
(VIRGINIA BEACH, VA) Sam McCoy was named Divaris' vice president of its new regional office in Roanoke, VA. Previously, McCoy held the position of director of real estate at Lowe's Companies, in Wilksboro, NC..
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