IPA Makes Moves into Office, Industrial Sectors
- Dec 03, 2015
By Barbra Murray, Contributing Editor
Institutional Property Advisors appears to be on an annual expansion kick. The firm, which provides advisory, brokerage and capital markets services to institutional and major private real estate investors, expanded into retail almost precisely one year ago and now it has just spread its wings again by entering the office and industrial sectors.
A division of commercial real estate brokerage firm Marcus & Millichap Inc., IPA launched in 2010 with the goal of accommodating investors in the multifamily properties sector. Then came retail and now, as Alan L. Pontius, national director of Marcus & Millichap’s National Office and Industrial Properties Group, said in a prepared statement, the timing is right for the firm to extend its reach into office and industrial.
“Recent gains to payrolls nationwide and continuing limitations on new supply have begun to translate into a faster pace of recovery for the U.S. office sector. The rapid expansion of online retail transactions have structurally changed the dynamics of industrial demand,” said Pontius, who will take on the role of national director of the new IPA division. The focus on the office sector will include the thriving medical office sub-sector, which continues to thrive as a consequence of the Affordable Care Act.
If IPA continues its apparent expansion pattern, December 2016 will bring news of an expansion into another sector. Hospitality is still up for grabs.