By Joshua Burd
CBRE has recognized a well-known New Jersey broker as one of its top producers, naming him the firm’s first-ever vice chairman in the Garden State.
The real estate services firm announced the new title for Thomas Monahan, a nod to his role as the top industrial producer throughout the Americas. Last year, he completed more than 50 transactions with an aggregate value of more than $500 million.
In a news release, CBRE pointed to Monahan’s role “at the forefront of several market-changing transactions,” including the $820 million portfolio sale between Morris Cos. and Prologis in 2015, which included eight industrial properties and 13 retail centers. More recently, his team handled a 923,000-square-foot lease on behalf of Seagis Property Group and a 695,000-square-foot lease to a Fortune 100 company on behalf of Prologis, both in Edison.
“Our clients rely on CBRE’s world-class professionals to provide the solutions and outcomes they need, and Tom exemplifies what it means to deliver, and often over-deliver, for them,” Jeff Hipschman, senior managing director with CBRE and its market leader in New Jersey, said in a prepared statement. “I’m proud to recognize this major milestone achievement for Tom and his team.”
Monahan and his partners also advised Bridge Development Partners and Duke Realty on the three-building, 1.2 million-square-foot ePort Logistics Center in Perth Amboy, including site acquisition, development advisory, marketing and lease-up. The assignment also included advising Bridge on its sale of the complex to Duke last year.
As part of the announcement, the Saddle Brook-based broker credited and thanked his team, including Anastasia Lazarides, Stephen D’Amato, Larry Schiffenhaus and Gerard Monahan.