Six industrial brokers have joined Newmark Knight Frank’s office in Rutherford, which is located at The Meadows office complex in Rutherford.
By Joshua Burd
Newmark Group Inc. has expanded its New Jersey industrial team with six new brokers, who are among 11 newly added professionals across its offices in North America.
The company, which operates as Newmark Knight Frank, announced that Al Petrillo, Adam Petrillo, Craig Engelhardt and Tom Carragher have joined its Rutherford office as executive managing directors. Chris Koeck and Steve Korfiatis, meantime, have joined the New Jersey team as managing directors.
They come to Newmark from Savills, as do the other newly announced hires. In a news release, Newmark said the brokers specialize in supply chain and logistics real estate and advisory for blue-chip clients, including Fortune 500 corporations and global leaders in third-party logistics.
“This important step further elevates Newmark’s industrial practice and provides a valuable enhancement to our integrated platform,” Newmark CEO Barry M. Gosin said. “North America’s industrial supply chain and logistics are essential components of the global economy; the industry is closely tethered to retail, capital markets and many other sectors. We remain committed to strategic growth in key service areas.”
Newmark’s other new hires include executive managing directors Jeff Cannon and Andrew Morrow in its Irvine, California office, Blake Anderson in its Dallas office and Steve Levine in its Miami office. Also joining is Brian Prevoe, a senior managing director in Toronto.
The new additions are meant to bolster Newmark’s presence in key industrial markets amid the growing importance of e-commerce, supply chain and logistics trends.
“The gravity and influence of e-commerce in the current climate is intensifying demand for logistics real estate,” said Newmark Executive Vice President and Managing Director Phil Brodkin, who oversees its industrial platform. “As the market demands more resilient supply chains and diversified manufacturing locations through near-shoring or last-mile industrial space, the need for logistics real estate in the long term will increase significantly.
“Bringing on these proven, globally-minded industrial experts complements Newmark’s multidimensional platform.”
The New York-based commercial real estate services firm noted that the 11 professionals have more than 225 years of combined experience and have dealt with transactions and portfolios spanning more than 100 million square feet annually.
“Newmark has built a platform underpinned with services and professionals who understand essential value creation and the stabilization of real estate of all kinds,” Al Petrillo said. ”The company’s leadership and its mission to promote an entrepreneurial culture that rewards its businesses for collaborating across markets and disciplines is a significant draw. Newmark’s desire to scale client solutions aligns perfectly with client goals in the industrial and logistics space.”
For his part, Adam Petrillo noted that industrial and logistics companies “are among the largest disruptors driving the global economy, and new classes of manufacturers, aggregators, distributors and retailers are changing the world and how we interact.”
“As a result, older-line companies have been forced to innovate and evolve their own businesses, requiring a new breed of advisor — with both focus and depth to tackle the core issues on where to locate and why,” he said. “We have the platform at Newmark to be able to evolve alongside these companies from the moment world-changing ideas leave the labs until those ‘ideas’ end up on our doorstep.”