Montclair State University occupies a 252-acre campus spanning parts of Montclair, Clifton and Little Falls. — Courtesy: JLL
By Joshua Burd
Montclair State University has tapped JLL to lead its search for a new executive director of real estate and economic development.
According to a news release, the real estate services firm will spearhead a search and interview committee for a position that will serve as a liaison among the university, the business community and government agencies to develop strategic partnerships and position Montclair as a key driver of economic development in the state and region. All of which will center on fostering innovation and growth for the public research university of more than 22,000 undergraduate and doctoral students.
JLL Senior Vice President Nick Dinallo will lead the effort.
“We are always excited to find ways to partner with our clients, helping to solve their real estate needs and advance their business objectives,” Dinallo said. “This project enables us to leverage our expertise and further connections within our industry.”
In particular, the new executive will lead the identification and development of university-owned real estate for expansion, including potential public-private partnerships that align with the university’s mission and economic development goals, the news release said. That will include evaluating potential real estate acquisitions, leases and joint ventures to meet operating needs, support growth objectives and create new revenue streams that can contribute to Montclair’s financial sustainability while expanding its physical presence.
The university, which has more than 300 programs across 13 colleges and schools at all degree levels, occupies a 252-acre campus spanning parts of Montclair, Clifton and Little Falls. JLL noted that the new executive director will collaborate with city and state agencies to ensure that real estate development aligns with regional economic development priorities and zoning regulations, while also partnering with the Division of Development and Alumni Engagement to secure grants, donations and sponsorships for economic development initiatives.
The role requires a minimum of five years of leadership experience in economic development, real estate development, public-private partnerships or a related field, with a strong knowledge of development partnerships and revenue generation strategies, preferably in a higher education or public-sector environment.
