NEW YORK CITY—Brookfield Office Properties has named a successor to Mitch Rudin, president and CEO, who stepped down suddenly last month.
Paul Schulman has been named president and COO of US Commercial Operations, responsible for the day-to-day operations of the company’s 57-million-square-foot U.S. office business. A 16-year executive at Brookfield who most recently oversaw its Washington, DC operations, Schulman will oversee asset management, leasing, and operations of Brookfield’s 63-property US portfolio located throughout New York City, Los Angeles, Washington, DC, Houston, Denver, Boston, Seattle and San Francisco. The properties comprise 57 million square feet.
“Paul has been an integral member of the U.S. senior executive team for many years,” says Dennis Friedrich, Brookfield Office Properties’ CEO and the company’s top executive. “The business will continue to flourish and grow under his increased leadership and strategic vision.”
Rudin came to Brookfield as it was grappling with millions of square feet of vacancy at Brookfield Place, the eight-million-square-foot office complex it owns in lower Manhattan, near the World Trade Center site, notes Crain’s New York Business. Much of that space was filled during his tenure. He left in just about the middle of his five-year employment contract.
In addition to overseeing Brookfield Office Properties’ hulking portfolio, Schulman also likely will have to help guide Manhattan West to success, Crain’s notes. Brookfield began constructing the $5 billion mega-project in the Hudson Yards in 2013. The mixed-use development includes two major office towers that have not secured anchor tenants.
[Editor's Note: This story has been corrected.]