CBRE's Powers Joins BXP to Lead NYC Office

NEW YORK CITY-John Powers, currently chairman of the New York tri-state region at CBRE, will succeed Robert E. Selsam at Boston Properties as SVP and regional manager of the REIT's New York office. Selsam has decided to retire from the company this coming January after nearly 30 years. A spokesman for CBRE tells GlobeSt.com the firm has no comment.

Although Powers has worked primarily in the realm of tenant representation, he has represented BXP on a number of properties, including the leasing of 599 Lexington Ave., the development of Times Square Tower and the REIT's forthcoming 250 W. 55th St. At 250 W. 55th, for example, Powers represented BXP in law firm Morrison & Foerster's 180,000-square-foot deal that kick-started the resumption of development on the 39-story tower.

“We are delighted to attract such an experienced and energetic leader as John to head our New York Office,” says Owen Thomas, BXP's CEO. “In addition to being one of Boston Properties' most trusted advisors in the New York market, John has significant management experience, a wealth of local relationships and a well-deserved reputation as a creative deal maker.” Executive chairman Mortimer Zuckerman expresses similar sentiments, noting that “John and I have worked together for several decades, and I am thrilled that he is joining our team.”

A veteran of more than 25 years' standing in the industry, Powers was with Insignia/ESG for 14 years prior to its merger with CBRE, rising to the rank of vice chairman. Over his career he has developed many occupancy strategies for large corporate users, advised clients on numerous ground up developments, and brokered millions of square feet of transactions. Powers has represented corporate names such as AT&T, United Technologies, Hewlett Packard, First Union Bank, McGraw-Hill, Ziff-Davis, Skadden Arps, PNC Bank, Chase Manhattan Bank, Arthur Andersen, Barclay's Bank, AIG and Mellon Financial.