Panattoni Picks Partner for Data Center Push
Panattoni Development has added Adam Kramer, who previously served as CEO of carbon-emissions management company nZero, as a partner to oversee its plans to develop data centers across the country. Panattoni, known for the industrial, office and retail buildings it's developed, said it's getting into the data center business as the boom in artificial intelligence, or AI, fuels demand for data center capacity. Based in Irvine, California, Panattoni said it plans to develop a total of a gigawatt of datacenter capacity, or enough to power about 876,000 homes, over the next five years. “You want to be where the customer is, and right now the customer wants to be in the data-center world,” said Doug Roberts, president of North American development at Panattoni, in a statement. Panattoni plans to build data centers on land it owns as well as on properties it buys for the structures. Its developments will range in size from 100 megawatts to 500 megawatts of capacity, the company said. In addition to nZero, Kramer served as an executive at technology infrastructure provider Switch.
Newmark Hires Capital Markets Brokers From CBRE
Newmark has fortified its Rocky Mountain region capital markets team with the hiring of Tim Richey from rival CBRE. Richey, who has more than 30 years of industry experience, joined Newmark in Denver as an executive vice chairman. At Newmark, Richey will focus on office and multifamily sales across Colorado and the surrounding region, the brokerage said. He will work alongside John Jugl, vice chairman of Newmark's Western region capital markets group, and team. During his career, Richey has closed more than $20 billion in total transaction value and is credited with being an adviser for 70% of the high-rise office sales on the Denver skyline, Newmark said.
Richey's son Jack Richey also made the move to CBRE. Jack Richey joined Newmark as an associate director and will focus on multifamily deals to expand the region's presence in that area, the company said. At CBRE, Tim Richey served as a vice chairman of its capital markets division that specialized in institutional properties, Before that he served for long stints at Cushman & Wakefield and Grubb & Ellis, now part of Newmark. During his time at CBRE, Jack Richey worked on its Colorado multifamily and debt and structure finance teams.
Colliers Expands Philadelphia Industrial Team
Colliers has expanded its industrial team led by Michael Golarz and Tom Golarz in Philadelphia with the addition of two brokers. Marquise McDuffee and Ben Haferl joined the Golarz industrial team as associates. With the addition of McDuffee and Haferl, the team now has six members who focus on institutional-grade logistics requirements for clients in Eastern Pennsylvania and New Jersey, Colliers said. Before joining Colliers, McDuffee worked at Janney Montgomery Scott as a wealth manager. Haferl previously worked at real estate services firm DSM Commercial. Expanding the Golarz team is part of Colliers' strategy to grow in the region following its acquisition of its Philadelphia affiliate, the firm said. In April, Colliers acquired Colliers Philadelphia, an affiliate with five offices and 130 professionals who work in landlord agency services, tenant representation, investment sales and property management.
Cresa Taps Veteran as Project Management Lead
Cresa has hired Vic Marotta, who previously worked at Blackstone's Link Logistics, as a principal and project management lead in Atlanta. In his new role Marotta will be responsible for expanding the Atlanta team and overseeing its local and national large-scale assignments, Cresa said. He will focus on office and industrial projects. "With proven success overseeing a diverse range of development, renovation, and tenant improvement projects across the various sectors of our business, he is well positioned to lead and grow our project management team,” said Chris Scott, market leader of Cresa Atlanta, in a statement. Before he worked at Link Logistics, where he served as a senior vice president and managed its construction operation across the Southeast, Marotta worked at Skanska, Pattillo Construction and Rand.
Heitman Appoints Head of Global Sales
Real Estate investment firm Heitman has appointed John Mancuso, who joined the firm in 2015, as a managing director and head of global sales in its client service and marketing group. Mancuso, who had been serving in the role on an interim basis for more than a year, will continue to lead Heitman’s global sales initiatives, the company said. Based in Denver, he reports to Lewis Ingall, senior managing director and global head of client service and marketing. Before he took over as interim head of sales, Mancuso led Heitman’s sales and relationship management with investors in the Western region of the U.S. Prior to joining Heitman, Mancuso was the head of private markets research at Russell Investments, where he oversaw its private markets investment research practice. He also worked at Meketa Investment Group and Lucent Technologies.