"We'll recommit the focus on our clients," Arena tells GlobeSt.com. "Grubb & Ellis is a lot bigger in New York than people know. There's a pretty solid franchise to build on. We plan to grow all the lines of business." In his new role, he will be responsible for directing the growth of the company's real estate activities in the region.

Mark Rose, chief executive officer of the Chicago-based Grubb & Ellis, says Arena's "knowledge of the Manhattan real estate market, proven track record of building and managing successful operations and reputation as one of the city's most dynamic and trusted real estate advisors makes him uniquely qualified to lead our growth initiative in New York." Rose adds that Arena's hiring is part of "a fundamental step" toward the firm's goal of expanding its presence here.

"David Arena was one of our stronger sales professionals, and I am certain that he will have success in his new position," says Peter Riguardi, president of Jones Lang LaSalle's New York office. "The circumstances of his move are similar to a college basketball program losing an assistant coach to an up-and-coming club--it makes the game more fun for everyone involved. We wish him the best of luck in his endeavors."

The 44-year-old Arena has a more than 20-year career in New York real estate. He held senior roles at Tishman Speyer Properties and Morgan Stanley prior to joining JLL in 2002. He has advised a roster of clients such as MetLife, Morgan Stanley, Goldman Sachs, Hines and the Port Authority of New York and New Jersey on large corporate portfolio restructurings, major property and space acquisitions, significant asset repositioning, sales and leasing assignments.

"We are going to surprise a lot of people," says Arena. "We're hitting the ground running and with patience in a year or so things will look a lot different."

Instant Insights /

Arena Leaves JLL, Joins Grubb & Ellis

Related Stories

Recommended For You