LAS VEGAS-CB Richard Ellis’ St. Louis managing director is now running the show in Las Vegas. The brokerage firm said Tuesday that Patricia “Patty” Nooney has replaced Craig Shute, who was tapped in July to head up the firm’s Hong Kong office, which serves as the company’s Asia market headquarters.
Nooney, a St. Louis native and a LEED Accredited Professional, has been a managing director of that office for CBRE since 2006, where she oversaw leasing and management teams and lead teams involved in the the planning and implementation of several urban and suburban renovation and repositioning projects involving office, retail and multifamily properties.
Prior to CB Richard Ellis, she spent 16 years as the president of Nooney Krombach Co., a family-owned real estate services company. She also sent several years in a variety of executive positions with American Spectrum Realty.
Nooney was not immediately available early Tuesday afternoon for comment. Shute, an Australia native with 13 years of overseas experience, replaced Mark Bouchard as managing director of Las Vegas in August 2006. He will take over the reins in Hong Kong later this month.
Under Shute’s leadership, the Las Vegas office completed 340 transactions valued at $3.5 billion in 2007, a 40% increase from 2005. Industry sources told GlobeSt.com last month that Shute is leaving for the opportunity have more responsibility and be part of the explosive growth in China, where CBRE has 15 offices.
While transactional data for the Hong Kong office alone was not available, CBRE’s Asia-Pacific region’s 2007 activity totaled $20.3 billion in 2007, and the Hong Kong office is its largest office, with approximately 600 staff, four times the size of the Las Vegas office.
“It’s a great opportunity for me to grow both existing and new client relationships,” Shute told GlobeSt.com in July. “There are a lot of international clients looking to go from China and Hong Kong to the US and US clients looking to go the other way.”