NGKF Names New Vice Chairman
- May 27, 2015
Newmark Grubb Knight Frank has promoted Terry Coyne, SIOR, CCIM from executive managing director in its Cleveland office to the title of vice chairman.
“The title is a reflection of the leadership and reflection of the company. I don’t have any new role,” Coyne told Commercial Property Executive. “I’ve been the top industrial broker for two years at Newmark and it’s more of a recognition of what has happened and probably expectations to keep going.”
With 21 people in NGKF, Coyne sees his responsibility as taking more of a leadership role on company calls and mentoring people to help grow the organization.
A 20-plus year veteran of the commercial real estate industry, Coyne has a transaction portfolio in the billions and has been an integral part of NGKF’s Cleveland office. He’s been a top producer in the office since 2002 and was the company’s top-producing industrial broker nationally in both 2013 and 2014.
Additionally, Coyne placed in the top 50 (2013) and top 20 (2014) amongst all commercial real estate brokers in the United States. He is also a multiple winner of NAIOP Northern Ohio’s Broker of the Year, Industrial Transaction of the Year and Investment Broker of the Year awards.
“I feel like I am playing at a faster pace with NGKF. The people are so smart and the access has been fantastic,” he added. “We’re working on some really large, complex transactions that haven’t closed yet but we’ve built the team and brought the right people on to work this. In our business, it’s all about the right people and the right teammates.”
Among the goals Coyne has set for himself in the year ahead is to help grow NGKF’s capital markets business.
“In the past couple of years, myself and my group has helped to build a very strong capital markets group and we have a goal that by 2017, to be the biggest capital markets group by dollar value for industrial and office for Ohio,” he concluded. “We have great support from our capital markets team in New York and Chicago when we want access to debt or equity, that’s something we never really had when we were with Grubb.”
As an example, NGKF just had a big closing for a property by Cleveland State University, which was the largest student housing sale done in Ohio over the past year. In the deal, Asset Plus Cos. Inc. acquired Heritage Hall from Euclid Avenue Development Corp., for $4.5 million. Coyne and his team represented the seller in the transaction.
Coyne is a member of the Society of Industrial and Office Realtors (SIOR), is a Certified Commercial Investment Member (CCIM) and a member of the Cleveland Area Board of Realtors (CABOR).