Longtime CBRE Exec Fagan Joins C&W

Fagan will be responsible for the brokerage firm's operations in Westchester County, NY, as well as Fairfield and New Haven counties in Connecticut. The move marks the first major employee departure from the ranks at CBRE's local operations since the firm merged with Insignia/ESG earlier this year.

Previously, Fagan served as senior managing director for CBRE overseeing the firm's operations in the New York Metropolitan region, which included: Manhattan, New Jersey, Long Island, Rockland and Westchester counties and Southern Connecticut. After the merger with Insignia/ESG closed in July 2003, Fagan was named senior vice president and was making the transition from the management to the production side of the business. Dean Shapiro, formerly of Insignia/ESG, was placed in charge of the Westchester/Connecticut operations of the newly merged firm.

Fagan joined CBRE in 1983 and since then had been involved in more than 500 transactions totaling more than 50 million sf. The aggregate value of those transactions, exceeded $3 billion, according to C&W officials.

"Jim Fagan is a great guy and we wish him well in his new position at Cushman & Wakefield," says Patrick Murphy, CBRE's executive managing director and partner, New York Tri-State Region. "CB Richard Ellis' status as the market leader in Westchester and Fairfield, however, remains the same. We still boast many of the most experienced and accomplished brokerage professionals in the region, and still have at our fingertips the resources of not just the Tri-State operation, but the entire CB Richard Ellis organization worldwide. Under Dean Shapiro's leadership, Insignia/ESG's Westchester/Fairfield office set the standard for all other firms to follow, and we have every confidence his talent and brokerage saavy will result in the same standard of excellence for the new combined CB Richard Ellis operation."

Commenting on Fagan's move to C&W, Kenneth M. Krasnow, senior managing director and New York area leader for C&W notes, "Jim's dynamic expertise and superb client relationships will help us broaden our business as well as our capabilities in Fairfield and Westchester counties. His brokerage and investment sales experience will enhance the team of talented professionals we already have on board."

Bruce Mosler, president, US Operations for C&W adds, "He adds regional strength to our already powerful group of leaders across the nation."

One change that will take place with the Fagan hiring is that the Westchester/Connecticut operations of C&W will be managed once again from its Stamford offices. For more than a year, the brokerage firm managed the suburban business from its New York City headquarters. Fagan, a resident of Weston, CT, will report to Krasnow.

Commenting on his new position, Fagan says, "Cushman & Wakefield has a proven global platform which provides extraordinary results for clients. I am extremely excited about the opportunity to build market share in the region as well as collaborate with some of the most creative and respected real estate professionals in the region."