Marcus & Millichap Hires Retail SVP
- Aug 30, 2017
Marcus & Millichap appointed Scott Hook as senior vice president of investments in the firm’s Newport Beach, Calif., office. Hook specializes in retail property sales and will lead a team of investment sales professionals in his new role. His team will be focused on working with buyers and sellers of single- and multi-tenant retail properties throughout the western United States, with an emphasis on Southern California.
“We are pleased to welcome Scott back to the firm,” says Jonathan Giannola, regional manager of the firm’s Newport Beach office, in prepared remarks. “Over the past 30 years, he has sold more than 500 commercial properties and consistently delivered record sales prices for sellers and secured strong acquisition opportunities for buyers. His success and expertise in the retail property sector are a tremendous asset for our clients both in the region and throughout the nation.”
Hook joins from Coldwell Banker Commercial Advisors, where he served as an executive vice president and retail investment agent. Prior to that, he worked for Marcus and Millichap for nearly 21 years starting in 1993, most recently as senior director. Since January 2016, Marcus & Millichap has had nearly 30 brokers return to the firm.
Hook holds a Bachelor of Arts in finance and marketing from the University of Southern California. He is a Certified Commercial Investment Member and a member of the International Council of Shopping Centers.
This is a good time to grow the firm’s retail practice, as the national retail vacancy rate is set to drop to its lowest level in 16 years, according to Marcus & Millichap’s 2017 U.S. Retail Investment Forecast. Vacancy for retail properties in Orange County is anticipated to hit a 10-year low of 3.9 percent due to minimal completions and growing demand, according to the firm’s second-quarter Orange County retail report.
Image courtesy of Marcus & Millichap