Barry Barovick was hired as president and chief executive officer in April, capping a nearly year-long search for a successor to CEO Neil Young, who also was the company's chairman. CFO Ian Bress was next.

"This is a great opportunity," Costello says. "Grubb & Ellis is uniquely positioned to take advantage of the changing landscape in the global commercial real estate arena. There's a great deal that we can accomplish here, and I want to be a significant part of the growth story. I am genuinely looking forward to meeting and working with all the talented professionals at Grubb & Ellis."

Costello was executive managing director with CB Richard Ellis in charge of the firm's operations in New York, Connecticut and New Jersey before joining Ernst & Young. An attorney and real estate broker, Costello was recently recently president of the New York chapter of NAIOP.