CBRE's Chris Zubel

CHICAGO, IL-CBRE announced this week that Chris Zubel, 38, has been named a managing director and will oversee the Chicago Industrial group, manage the Schaumburg office and help run overall Chicago operations.

“Chris Zubel is the ideal candidate to succeed Scott Marshall in leading Chicago Industrial as he is highly regarded by both his clients and peers,” said Chris Connelly, CBRE Chicago’s executive managing director, in a prepared statement. “This was also a great opportunity for CBRE to promote talent already existing in the company which is always a positive move for the firm.”

“Scott Marshall did an excellent job of growing this group, so I look forward to carrying forward the initiatives he started,” Zubel tells GlobeSt.com.

Zubel joined CBRE in 2003 and previously served as a vice president in the firm’s industrial section. He participated in transactions involving 11-million-square-feet of space. Before joining CBRE, Zubel was a business developer at First Industrial Realty Trust, Inc. in Chicago.

He expresses tremendous optimism about the economy’s pace. “We are seeing recovery across all sizes of industrial buildings. We are even starting to see speculative construction and that’s something we haven’t seen since 2007.

“Investors are starting to put the [vacant] land that was in their inventory and putting up spec buildings,” and this general wave of revival has hit many core markets across the country including Chicago, Atlanta, the Inland Empire, New Jersey and others. “Industrial real estate is in a total recovery mode.”