By Joshua Burd
Clark Machemer, a prominent New Jersey development executive, has joined Crow Holdings Industrial to lead the firm’s newly established office in the Northeast.
The company has hired Machemer as its senior managing director in the new office, which completes the build-out of a platform under its parent company, Dallas-based Crow Holdings. He will be based in New Jersey and responsible for establishing and growing the company’s presence in the Northeast industrial market, primarily sourcing and executing on new ground-up development opportunities.
Machemer most recently was a senior vice president with the Rockefeller Group and its regional development officer for New Jersey and Pennsylvania. He is a former NAIOP New Jersey chapter president and brings 20 years of development experience.
“We are delighted to welcome Clark and to complete CHI’s national footprint,” said Ken Valach, CEO of Crow Holdings Industrial. “With six offices in strategic markets across the U.S., CHI now covers 50 percent of the U.S. industrial market in terms of net absorption.
“Secular e-commerce trends make the industrial real estate market a compelling long-term opportunity. The market is seeing unprecedented demand for distribution and logistics space, which is driving strong absorption and rent growth. Clark’s deep experience and relationships in the region will allow him to quickly build CHI’s presence in the Northeast and round out the company’s national reach and access.”
During his career, Machemer has been responsible for the leasing and development of more than 10 million square feet of industrial space, 1 million square feet of office space and 250 residential units, according to a news release. With CHI, his primary focus will be growing the firm’s industrial platform throughout the Northeast while also using his deep ties in the New Jersey market to identify new opportunities in the state.
“I am tremendously excited to join Crow Holdings Industrial and to have the opportunity to build upon its incredible growth over the past few years,” Machemer said. “The Crow Holdings legacy is rooted in industrial development, and no firm has had a greater impact on real estate across the U.S.
“CHI’s local expertise allows it to identify sites in strong distribution submarkets that offer tenants easy access to major roadways, rail, and airfreight infrastructure. I am honored to join such an accomplished team and to lead our efforts in the Northeast.”
Machemer holds a bachelor’s in finance and law and public policy from Syracuse University and a master’s in real estate development from Columbia University. As the immediate past president of NAIOP New Jersey, he remains on the executive committee and is an active member.
Crow Holdings Industrial is a national developer of warehouse, distribution and fulfillment properties in the country’s top logistics markets, the news release said. CHI and multifamily developer Trammell Crow Residential make up the development division of Crow Holdings, a nationally focused real estate investor, developer and owner with a global multi-asset investment platform that began operations 70 years ago.