NGKF Bolsters Midwest, Las Vegas Offices
- Jul 24, 2012
In moves designed to prepare for shifts in the manufacturing sector and other long-term economic trends, Newmark Grubb Knight Frank has promoted and added key personnel in its Pittsburgh, Cleveland, Detroit and Las Vegas offices, the company announced Monday.
Four changes took place in the three Midwestern offices, with new executive managing directors including Robert Nosal in Cleveland, Frederick Liesveld in Detroit, and Gerard McLaughlin and Louis Oliva in Pittsburgh. In Las Vegas, John Knott and Michael Parks joined the NGKF operation.
Nosal has more than 28 years of experience in the sale and leasing of office properties and in tenant representation. He previously served the director of the Cleveland office’s office group and from 2008 to 2010 as the company’s national healthcare practice group leader.
Liesveld joined DeMattia Group as a sales associate in 1987 and later served as director of sales and marketing for Ronnisch Construction Group in Royal Oak, Mich. He is a Member of the Association of General Contractors.
A Grubb & Ellis Co. veteran, McLaughlin has completed transactions valued at more than $1 billion and totaling several hundred million square feet, primarily in the Pittsburgh office market. In the past 18 months, he has been involved in leasing more than 600,000 square feet.
Oliva is an industrial specialist and was one of Grubb & Ellis Co.’ s top national producers. He has participated in the sale or lease of more than 35 million square feet of office and industrial property and more than 50 million square feet of development property, totaling more than $1 billion in value. He has been recognized more than a dozen times by the Pittsburgh chapter of the Society of Industrial and Office Realtors for completing the largest industrial property transaction of the year.
Knott and Parks founded CBRE Group Inc.’s global gaming group, based in the firm’s Las Vegas office. Between them, Knott and Parks have completed more than $3 billion in gaming property and land sales, including the Las Vegas Hilton, Sahara, Caesars Tahoe, Flamingo Laughlin, Trump Marina in Atlantic City, Fitzgeralds and, most recently, Boomtown in Reno.
NGKF president James D. Kuhn discussed with Commercial Property Executive some of the strategic rationale for strengthening these specific offices and regions.
Rising wage rates in China are among the global trends expected to drive a resurgence of the U.S. manufacturing sector, he said. As an example, Kuhn cited Airbus’ recently announced plans to build a $600 million plant in Mobile, Ala., that will produce A320-series jetliners.
And as that resurgence takes hold, Kuhn said, NGKF wants to be positioned to take advantage of it, hence its investment in manufacturing centers like Pittsburgh, Cleveland and Detroit. Though he declined to predict a time frame for a full upturn, he noted, “You have to think five years out.”
Similarly, as state budgets continue to be crunched, he said, expect even more of them to legalize gambling. In addition, he predicted, both Las Vegas and Phoenix will come back in the longer term, as their housing woes gradually abate.