Cash-Flush Newmark Nabs JLL Industrial Team; Mainstay Rick Schuhwerk in MixDecember 28, 2017 — By Joe Clements
BOSTON—Fresh off its successful IPO launch earlier this month, Newmark is wasting little time putting the increased financial clout to work and impacting the local brokerage landscape via the hiring of a crack industrial unit from JLL’s metro Boston operations. Making the shift to 225 Franklin St. are Executive VPs Anthony Coskren, Edward Jarosz and Richard Schuhwerk, plus Assistant VP Brian Pinch.
Calls to Newmark US Head of Investments Robert E. Griffin Jr. were unreturned by Real Reporter press deadline and the departing JLL professionals were not immediately available to discuss their shift from One Post Office Sq. to the top floor of 225 Franklin St.—directly across from each other in the Financial District. It is unclear whether any other JLL staffers are making the move beyond the four identified by multiple sources.
The brokers joining Newmark have been active throughout metropolitan Boston individually for variant periods and together have secured countless leasing commitments during the sector’s impressive rebound this decade following a difficult slump recovering from the 2008 recession. They also worked alongside the Capital Markets division led by JLL Managing Director Frank F. Petz, with industrial sales a cornerstone of the group’s activities, 2017 no exception.
Schuhwerk has been a longtime figure at JLL and responsible alongside a stable of other seasoned professionals establishing their firm among the market leaders on the flex and industrial fronts, efforts aided by JLL’s broad expertise in construction and project management as one of the most enduring vertically integrated platforms. Jarosz came aboard in spring 2014 from CBRE/NE where he had emerged as a leading practitioner equally adept on the leasing and sales arenas, his tenure in CRE now eclipsing 17 years. Rising star Coskren and Pinch—who joined in 2012—helped the practice group counsel dozens of developers and landlords throughout the region, with one of the most recent assignments involving an exclusive to fill 427,000 sf of industrial space being built speculatively in Bellingham by Campanelli and Clarion Partners, an undertaking first unveiled in September by Real Reporter. Market watchers indicate the former JLL brokers are now handling that assignment at Newmark, although that could not be officially confirmed.
Newmark’s pursuit of JLL’s industrial talent is said to be part of a national effort by the Gotham-based company to enhance its full menu of CRE services, that campaign seemingly boosted in the funds being presented the company from the well-publicized IPO. “They are off and running,” one CRE professional aware of the JLL transplants observes of the Newmark platform that was exponentially advanced two years ago when Griffin and some 70 staffers joined Newmark from their longtime home at Cushman & Wakefield. “Look out,” advises one CRE veteran, suggesting more growth might be in store.Edward Jarosz Richard Schuhwerk Brian Pinch Anthony Coskern Robert Griffin