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NEW YORK CITY-Patrick Murphy, a 27-year commercial real estate veteran, has been promoted to vice chairman at CB Richard Ellis. Murphy will now focus his efforts on new business development, strategic planning and high-level recruitment on the New York City marketplace.

Murphy previously served as executive managing director of CBRE’s New York Tri-State Region, and will remain on the New York Tri-State Management Committee. Murphy will also maintain a presence in New Jersey, where he managed the CBRE office for several years; however company sources tell GlobeSt.com that he will be based in the firm’s Manhattan office.

Mitchell Rudin, president of the New York Tri-State Region, says that with Murphy in this new expanded role, CBRE and the firm’s clients will be the beneficiaries of his talents, contacts and expertise in the local marketplace. “We are also fortunate that under Patrick’s leadership we have assembled a terrific team to lead our efforts in New Jersey.”

Under Murphy’s leadership, the New Jersey office became the state’s largest brokerage firm, commanding 32% and 37% market share in tenant rep and landlord rep, respectively, according to CBRE. In New Jersey, the team of Ray Sohmer, senior managing director of the entire New Jersey operations, and Jeff Hipschman, managing director and head of the East Brunswick office, has been responsible for managing the state’s operations for CBRE.

Murphy most recently served as executive director of the New Jersey operations of Insignia/ESG, before the firm merged with CBRE in 2003. At the time, he was credited with taking Insignia/ESG’s operations to the top in New Jersey, and signed a deal to join CBRE to repeat the effort. As GlobeSt.com previously reported, it was a five-year project, moving Insignia/ESG from fifth place in market share in the Garden State to number one, and it apparently made an impression on CBRE executives increasingly anxious to grow their business in the tri-state region.

In addition to his abilities as a manager, Murphy is recognized as a premiere real estate advisor and dealmaker. His accomplishments include creative transactions and advisory assignments totalling millions of sf throughout New York and New Jersey on behalf of Chase Manhattan Bank; Newcourt Financial; KPMG Peat Marwick; AXA Financial; General Dynamic SAT Division; Deutsche Bank AG; Alex Brown & Sons; Merrill Lynch; UBS Financial Services; Citigroup; Societe General; IBM; and Paine Webber Inc.

In 2007, Murphy was the recipient of the Benjamin Arthur Banker Leadership Award from CBRE, which recognizes CBRE professionals who have made major contributions to help build a culture of learning, primarily achieved through teaching. Prior to joining Insignia/ESG in 1991, Murphy served as VP at CPC Baker Harris, an international real estate consultancy. He is a member of the International Association of Corporate Real Estate Executives and sits on the Real Estate Board of New York.

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