Garibaldi Tapped as CORFAC President
- Feb 28, 2008
Hollywood, Fla.-based CORFAC International – Corporate Facility Advisors has tapped James Garibaldi as president. CORFAC ‘s theme for 2008 is “Next Generation,” he told CPN today. “We realize it is now appropriate to focus our attention on the next group of leaders within our organization,” he explained. “The younger members offer fresh perspectives, and are certainly technically more savvy…than the seasoned brokers. And they are certainly driven.”The theme has also been extended to the changes in the market. “The market itself is requiring greater levels of sophistication,” he added. “You no longer have the old close-the-deal quickly process. Most of the brokerages have taken a more consultative approach, and brokers are brought in as advisors. As a result they need to bring a higher level of skill sets. For example, financial analysis is becoming increasingly more important.”The new theme came about, according to Garibaldi (pictured), as a result of a recently completed needs assessment. The research showed CORFAC that more training and education was needed, along with more mentoring and coaching. The organization also plans to improve tools and resources with a reconstruction of the CORFAC website.“Part of our success has been our branding initiative over the last few years, and our name recognition worldwide has helped us a great deal. I was part of the task force that worked on the logistics and strategic plans the natural outgrowth of which is the regionalization we are now experiencing,” Garibaldi noted.The newly announced nine-member CORFAC executive committee include: Jeff Graham, president of King Commercial Realty of Florida/CORFAC International, as vice president; Owen Rouse, Jr. senior vice president Manekin/CORFAC International in Columbia/Baltimore, Md. as treasurer; for secretary, Tim Gallagher, president of Donohoe Real Estate Services/CORFAC International in Washington D.C. According to Garibaldi, CORFAC is “constantly looking to bring in new member firms and open new offices.” Of note, it is now looking in Boston, interviewing several firms over the next few weeks. In 2007, CORFAC firms completed 10,951 commercial real estate transactions coming to a total value of $24.5 billion dollars and including a billion square feet. Founded in 1989, CORFAC is partner with King Sturge in London. “We take care of the Americas,” Tom Bennett, executive director of CORFAC told CPN, “and King Sturge takes care of the rest of the world.” Currently CORFAC International includes 55 member firms that cover 77 markets in the Americas and with the King Sturge offices primarily in the United Kingdom, Europe and the Pacific Rim, CORFAC International covers 150 markets worldwide.