Marcus & Millichap Real Estate Investment Services continues to shake up its executive ranks.
Last month the firm promoted John Kerin to the positions of president and CEO to replace Harvey Green, who retired. Kerin officially took over those posts on July 1.
Today the firm has announced a second big move with the the promotion of Alan N. Pontius to the new position of national director of commercial leased investment properties. Pontius was previously the national director of the firm's National Office and Industrial Properties Group and the promotion means he will now also oversee the National Retail Group. Pontius replaces Bernie Haddigan, who also oversaw the firm's Special Assets Services division. According to Marcus & Millichap's release, Haddigan retired from the firm.
It's a big change given Haddigan's prominence in the retail real estate sector. Haddigan has been a fixture at industry events for years and often spoke on panels representing the firm. And he was a key part of the company's annual Retail Trends event in Las Vegas at ICSC's RECon--a meeting he hosted and moderated for 12 years. In all, Haddigan had been with Marcus & Millichap for nearly 30 years in various ranks. He began his career as an associate in the Encino, Calif., office. He was appointed regional manager of the Encino office in 1986, then elected as a managing director and a member of the firm's board of directors in 1994. In 1995 he relocated to Atlanta as a division manager to lead the firm's East Coast expansion.
For his part, Pontius has been with Marcus & Millichap since 1985. Pontius began his career with Marcus & Millichap as a sales associate, and in this capacity he consistently ranked among the firm's top 25 investment specialists. In 1993, he was appointed regional manager of the Palo Alto office, where he led that office to consistently rank among the top offices company-wide. Pontius was promoted to first vice president in 2000 and to senior vice president in 2002. Also in 2002, he was promoted to national director of the NOIPG. He was elected to managing director in 2007.
Kerin, meanwhile, has been with the firm since 1981. In 1987, he was promoted to regional manager of the Los Angeles office. He was elected first vice president in 1994 and managing director in 1996.