New York City – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced expansion of its Manhattan office, located at 270 Madison Avenue, New York, N.Y., according to J.D. Parker, first vice president and regional manager of the firm’s Manhattan office. Marcus & Millichap is adding an additional 6,100 square feet in the current building to accommodate the growth of its top office nationally. The space increase will allow room for hiring 35 more sales people.
“We’ve been bursting at the seams the last seven months so this was an easy decision for us,” says Parker. As the firm continues to rapidly increase its footprint in the Tri-state commercial real estate market, the expansion will provide additional space for training and seating to the office’s growing sales force and administrative staff. “We’ve captured significant market share in the NYC investment sales market during this cycle and grown our mortgage brokerage business rapidly during the last two years. We see a lot more opportunity locally and regionally. We’ll be hiring more experienced and new investment sales people in the coming months and we needed more space in order to capture that opportunity,” Parker added.
Marcus & Millichap’s presence in the Northeast has grown significantly over the last several years as the market has corrected, the Brooklyn and New Jersey offices have seen extensive growth within the last year, increasing their overall headcounts substantially. Additionally, the firm hasexpanded its White Plains and New Haven offices in the last month by signing new leases. Marcus & Millichap is hiring in all offices across the region for both investment sales and mortgage loan originators to add to their market leading position.
Marcus & Millichap’s regional offices closed 645 transactions in 2012, valued at more the $2.4 billion.
With more than 1,000 investment professionals in offices nationwide, Marcus & Millichap Real Estate Investment Services is the largest firm specializing in commercial real estate investment services in the nation. Marcus & Millichap closed 6,149 transactions in 2012, the highest of any commercial real estate brokerage firm. Founded in 1971, the firm has perfected a powerful system for marketing properties that combines product specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology and relationships with the largest pool of qualified investors nationally.