CBRE’s Saddle Brook office at Park 80 West in Saddle Brook — Courtesy: CBRE
By Joshua Burd
CBRE has announced an expanded role for its market leader in New Jersey, in an effort to expand the firm’s focus in the region’s industrial and logistics sector.
The real estate services firm said Jeff Hipschman, a senior managing director, is taking on the additional title of industrial and logistics divisional lead for the Northeast. The new role comes with the goal of expanding, coordinating and integrating CBRE’s logistics services across the region, including New Jersey and other parts of the region such as eastern Pennsylvania and New York’s outer boroughs.
“A highly accomplished geographic leader, Jeff is adding to this role bringing his significant expertise in technology and logistics to extend our reach in this rapidly growing market segment,” said Matthew Van Buren, president of CBRE’s Northeast Division.
The firm said Hipschman, one of its top regional leaders, will guide the industrial and logistics practice in one of the largest and most active regions in the world for distribution, logistics and industrial uses. The markets that CBRE serves in the region span a collective 2 billion square feet of industrial and logistics space, with average rent growth in the past year at 5.4 percent and vacancy averaging 5.4 percent.
Hipschman, who is based in the firm’s Saddle Brook office, is responsible for the management of all CBRE business lines across New Jersey, as well as all operating and support units, including office and industrial brokerage, asset services, project management, investment properties, research, marketing, legal and finance.
“We’re making a targeted effort to invest in and grow our Industrial & Logistics practice in the Northeast, and there’s no one better equipped to quarterback that strategy for us and our clients than Jeff Hipschman,” said Adam Mullen, CBRE Americas Leader of Industrial & Logistics. “Jeff’s strong management skills and regional expertise will guide our work as we strive to deliver highly successful client outcomes in a rapidly expanding Industrial & Logistics market.”