Newmark Grubb Knight Frank’s New Jersey headquarters in Lyndhurst — Courtesy: Newmark Grubb Knight Frank
By Joshua Burd
A longtime office broker has joined Newmark Knight Frank as a senior managing director based in the firm’s Rutherford office.
The new hire, Leo Paytas, brings 30 years of experience and a long list of tenant and landlord clients in industries such as the financial, insurance and legal sectors, NKF said in a news release. In the last two years alone, he has represented clients in the sale or lease of more than 2.4 million square feet, the firm said, with a total transaction value of $264 million.
“Leo has a comprehensive understanding of how to assist a variety of clients on either side of a transaction,” said David Simson, vice chairman with NKF and its chief operating officer in New Jersey. “He is well-equipped and knowledgeable in the nuances of high-profile and complex client representation, and we look forward to leveraging his experience, to continue to provide our clients with best-in-class service.”
NKF touted his relationships with Fortune 500 clients, with Paytas having represented companies such as Prudential Financial and its 7 million-square-foot portfolio. He oversaw transaction activity including acquisitions, dispositions and sales for the company’s holdings.
Paytas spent more than 11 years with CBRE and most recently served as a senior vice president, according to his LinkedIn profile. His other notable transactions include a 1.5-million-square-foot sale on behalf of Celgene, a 355,000-square-foot transaction for Equinix and a 298,000-square-foot deal with Cuisenaire Co. of America.
Other clients include Ameriprise, Continental Airlines, Healthstar and Intel, NKF said. Paytas holds a degree in civil engineering from the University of Pennsylvania.