First vice president-Industrial Properties Group, CB Richard Ellis
Title: first vice president- Industrial Properties Group
Company: CB Richard Ellis Inc.
Education: BA in Finance & Real Estate & Urban Development, UW-Milwaukee
Family: Wife, Joell; and two children, Austin (9) and Olivia (7)
City of Residence: Milwaukee (fashionable eastside)
Hobbies and Interests: "Hanging out with Joell and the kids, golf, cycling, cooking, coaching little league & restoring our late 1890s home."
What are you working on? “I am currently working on various industrial sale (investment/user) and lease projects in the metro area, as well as, a couple of assignments with our CB offices nationally, including a large portfolio sale with one of our Chicago Investment teams.”
How does the market look to you? "The industrial market in southeastern Wisconsin has remained relatively stable as compared to other segments (i.e., office, housing, etc.) in the region. The only market that is really stagnant at present is the bulk leasing market in and around the airport. The leasing and development market further to the south in Racine and Kenosha along I-94 has been very strong and both user sales and leasing in eastern Waukesha County continue to outpace other submarkets. The investment side of the market has cooled slightly with the uncertainty in the debt markets. However, with substantial dollars still earmarked for placement, I expect investors to get back in the game as we proceed into the second and third quarters of the year, with only a slight elevation in cap rates."
What was the best deal you’ve ever been involved in? "I have been fortunate throughout my career to be involved with some great transactions. It isn’t any one deal in particular that stands out, but rather the success of bringing together all the necessary components of a deal and managing expectations and personalities in a manner that allowed the transaction to come to a close, that I tend to remember most. The best deal tends to be the one that just closed."
What was the funniest moment of your career? "This is a business that can at times be over serious and somewhat stressful. Fortunately, the industrial brokerage community has attracted some great characters and personalities. I work with two of the extreme cases in Roger Siegel and Scott Furmanski, who provide an onslaught of entertainment on an ongoing basis."
