Hughes Marino tenant representative Kam Schroeder, who broke into the real estate brokerage business in 2005 with the firm founded by NFL Hall of Famer Roger Staubach and later bought by JLL, has jumped to Newmark to lead two offices in Northern California.
Schroeder has started as executive vice president and managing director of Newmark's offices in Oakland and Walnut Creek, California. He is based in the firm's Walnut Creek office.
In his new role, Schroeder is focusing on driving strategy and culture in the offices and working with Newmark's brokers. He also plans to collaborate with real estate professionals in Newmark's regional offices and New York City headquarters on various assignments including those involving major capital markets.
Mike Smith, executive vice president and Newmark's Northwest region market leader, said the relationships Schroeder has formed during his commercial real estate career will help him expand the brokerage's business in California's East Bay region.
“With experience on both a national and local level, Kam’s industry knowledge and strategic approach will elevate our presence in these key Northern California markets and reinforce our efforts in furthering client advocacy goals,” Smith said in an email.
Schroeder takes over as managing director of Newmark's East Bay offices as the area's office market struggles to rebound from the disruption of the pandemic.
Companies allowing employees to work from home has led to an overall decrease in office usage that resulted in an office vacancy rate of 17.6% at the end of the first quarter, the highest it's been in more than five years, according to Newmark.
However, Newmark said signs of improvement have begun to emerge.
"Optimistic plans for office reentry remain in the Greater Oakland market," the brokerage said in its first-quarter market report. "Downtown Oakland office leasing has slowly regained traction."
In contrast, the region's industrial market has had a steadily solid performance in the first quarter, according to Newmark.
"The East Bay industrial market continued where it left off in 2021, with overall steady asking rents, as well as a continually lowering vacancy rate," according to Newmark's report. "Properties under construction exploded from 1.0 million square feet in the fourth quarter of 2021 to around 2.3 million in the first quarter of 2022."
Schroeder started his commercial real estate career in 2005 at The Staubach Co., the brokerage firm Roger Staubach sold to JLL in 2008. He ascended to senior vice president of tenant representation at JLL in July 2017.
He spent the past three-plus years at San Diego-based tenant rep firm Hughes Marino, where he worked the East Bay as a senior vice president.
Schroeder said he and the Newmark team would work to help clients capitalize on the shifts and trends that have emerged as the pandemic winds down.