Marcus & Millichap Real Estate Investment Services continues to expand in the Northeast with the opening of a new office in White Plains according to John Kerin, president and chief executive officer. J.D. Parker, a vice president of the firm, will oversee the White Plains office as its regional manager. In conjunction with the office opening, the firm has hired Joseph French Jr. as a senior director of its National Retail Group (NRG).
The White Plains office is located at 50 Main St.
"As we continue to grow our market share in the Tri-State region, adding a new White Plains office to serve the needs of investors in the New York Metro Area, Upstate New York and throughout New England makes strategic sense," said Parker. "The opening of this new office - and the addition of Joe to our sales force - further strengthens our position as the leading real estate investment services firm not only in the Northeast, but in the United States."
In his new post as senior director, French will focus on multi and single-tenant retail investment sales on behalf of institutional and private investors. Prior to joining Marcus & Millichap, French was one of the top-producing agents at commercial real estate brokerage firm Sperry Van Ness, where he specialized in retail property sales.
"Joe has an outstanding track record of success and his expertise will be a tremendous asset to Marcus & Millichap," said Parker, who also oversees the Manhattan and New Haven, Conn. offices as regional manager. "Joe is one of the most respected brokers in the New York region. Therefore, it was a natural fit for him to join the top investment brokerage firm in the country - Marcus & Millichap."
French brings more than 25 years of experience in the real estate industry to his new position at Marcus & Millichap. Before joining Sperry Van Ness, he was a senior vice president of investment sales for the Hutensky Group. He was also an integral part of prominent real estate firms Landau & Heyman, Brandenberg Realty and C.S. Brown Associates.
"In order to provide superior service to my investor clients who transact business well beyond the Tri-State Area, I decided to join Marcus & Millichap," said French. "The firm has unparalleled access to a nationwide pool of private, institutional and 1031 exchange capital. Also, the company's commitment to expanding its market share in the retail brokerage sector in a still unstable economy was very appealing. To be part of this exciting growth - particularly east of the Mississippi River where the bulk of my team's transactions close - was a welcome opportunity."
French received his bachelor's degree from Southern Illinois University and a real estate professional diploma from New York University. He is on the board of directors of the Afro American Real Estate Professionals, the Real Estate Associates Program (REAP) and Habitat for Humanity of Westchester. French is also a member of the International Council of Shopping Centers (ICSC) and the Real Estate Board of New York (REBNY).
Also joining French as associates of Marcus & Millichap are Thomas Dalzell, Schuyler Boylan and Amie Segel. Combined, the new agents have more than 60 years of real estate investment sales experience.
With these new investment professionals in place, the firm is poised to take advantage of robust long-term demographics and strengthening property performance. "Investment properties in the Northeast boast some of the best fundamentals in the entire country," said Gene Berman, executive vice president of Marcus & Millichap, and group managing director of the company's northeastern offices. "As the economy continues to improve, both domestic and foreign investors are rebuilding their real estate portfolios, shedding non-performing assets, executing more 1031 exchanges and requiring more complex financing for their transactions.
"In short, investors are requiring more sophisticated brokerage, advisory and financing services uniquely offered by Marcus & Millichap," said Berman. "This is an opportune time to push forward with our expansion plans and capitalize on the investment opportunities in the Northeast."
In addition to the White Plains office, Marcus & Millichap's northeastern offices include Baltimore, Boston, Brooklyn, Manhattan, New Haven, New Jersey, Philadelphia, Pittsburgh, Providence and Washington, D.C.
Founded in 1971, Marcus & Millichap Real Estate Investment Services has been the premier provider of investment real estate services. The foundation of the firm's investment services is the depth of its local market knowledge. The company's 41-year history of maintaining investor relationships in local markets enables it to be the best information source and transaction service provider nationally.
Built on the philosophy of providing innovative real estate services demanded by an industry where relationships are paramount to long-term success, Marcus & Millichap offers a wide range of specialists to meet shifting market requirements. The firm has formed several specialty groups to serve the needs of investors, including: Healthcare Real Estate Group, National Hospitality Group, National Land Group, National Manufactured Home Communities Group, National Multi Housing Group, National Office and Industrial Properties Group, National Retail Group, National Self-Storage Group, National Seniors Housing Group, Net Leased Properties Group and Special Assets Services.
Marcus & Millichap Capital Corporation (MMCC) provides superior capital market expertise and highly competitive loan products that enhance Marcus & Millichap Real Estate Investment Services' ability to serve its clients in their endeavor to create and preserve wealth.
MMCC arranges financing for a full range of investment properties, including apartments, shopping centers, office, industrial, single-tenant net-lease, seniors housing, hotels/motels, manufactured home communities and self-storage. By leveraging its relationship with Marcus & Millichap Real Estate Investment Services and its national network of investment professionals, MMCC is able to provide clients with the latest property markets and capital markets information, and ultimately secure the best loan package to meet their financial objectives.
Whether a property owner is seeking to pull cash out of an asset, reduce monthly payments or secure better loan terms, MMCC's capital sources can provide the optimal refinancing package in both loan terms and loan proceeds. By aggressively sourcing funds through our network of different types of lending institutions, MMCC can obtain the best capital fit to meet clients' objectives.