C&W's Luis Alvarado Steps Down

BOSTON—Veteran commercial real estate executive Joe Fallon has been named executive managing director and New England market leader for Cushman & Wakefield.

Fallon replaces Luis Alvarado, who C&W reports has decided to leave the firm after serving as market leader since 2013. Prior to his new role, Fallon was the regional managing principal of DTZ (formerly Cassidy Turley). The merger of DTZ and Cushman & Wakefield closed on Sept. 1 and the firm now operates as Cushman & Wakefield. Prior to his tenure at DTZ, Fallon was the founding partner and managing partner of FHO Partners.

The changing of the guard is just the latest in what has been a tumultuous job environment of late in commercial brokerage in the City of Boston and particularly at some of the major brokerage firms. Last month Robert Griffin, head of C&W's New England Capital Markets group left along with other members of his team to Newmark Grubb Knight Frank. Griffin is now the US Head of Capital Markets for NGKF. In late August, a host of brokerage defections were reported, including a number of CBRE/New England brokers who left the firm for JLL New England.

Prior to joining Cushman & Wakefield in 2008, Alvarado was a founding partner of Insight Partners. Insight developed and managed more than 1.7 million square feet of commercial, retail, residential, and industrial property. Alvarado was a general partner in the acquisition and redevelopment of Cross Point, formerly the Wang Towers, in Lowell, MA.

Fallon takes over his new post after having spent more than 30 years representing landlords and corporations in leasing and sales transactions. In 2012, the Commercial Broker Association named him Broker of the Year and in 2013/2014 he was the number one broker at Cassidy Turley/DTZ. He will oversee the Boston office that has 50 brokers and covers Boston, Hartford, CT and Manchester, NH.

“I'm thrilled that Joe has accepted this role and I look forward to seeing his leadership and vision put to good effect with our clients in New England,” states Shawn Mobley, president, east region for Cushman & Wakefield. “Joe's drive and determination to help our clients will set the right tone as we continue to build our platform and capabilities.”