Bob Nosal, the head of Newmark's Cleveland office since 1998, has exited the brokerage to join NAI Pleasant Valley's Independence office.
Nosal said in an interview that he sought to "refresh" his career by joining a different brokerage as an executive vice president and he is excited by devoting himself to real estate brokerage rather than managing a brokerage and doing his own deals on the side.
Gino Faciana, owner of the Pleasant Valley Corp. property management firm of Medina and the NAI Pleasant Valley brokerage, and Faciana's wife, Barb, have been long-time friends and associates since the 1980s, Nosal said. He said he wanted to work on Faciana's goal of expanding Pleasant Valley into more real estate development, gaining more corporate assignments and making a bigger mark in property brokerage.
Alec Pacella, president of NAI Pleasant Valley, said in an interview that Nosal fits Faciana's plan to "compete with the bigs" in brokerage because of his broad experience in the industry and Northeast Ohio.
Nosal's exit from Newmark means the global brokerage no longer will have a local executive heading the office. Instead, Cleveland will be run by Jim Clark of Newmark's Columbus office. Clark will oversee all the company's Ohio offices and its Pittsburgh office.
Clark returned an email asking about Nosal's departure with a single sentence.
"I have sincerely appreciated working alongside Bob at Newmark; we thank him for his years-long service to the company and wish him well in his future endeavors," Clark wrote.
For Nosal, the move is his first since joining a predecessor Newmark company, the local Adler Galvin Rogers brokerage, 34 years ago. That was prior to the former Grubb & Ellis Co. acquiring the office in an effort to create a national real estate brokerage.
"I worked for five different companies out of the same office," Nosal said, referring to name changes and sales of the brokerage to different principals over the years.
Nosal insisted he's not leaving a larger brokerage operation, at least on the local level, for a smaller one.
"(Pacella) has 15 brokers," Nosal said. "When I left we had nine, including myself."
Pacella was among Nosal's hires for the former Grubb & Ellis Co, first as a research director and later as an investment broker.
For his part, Pacella said he counts Nosal as a friend in a friendship that grew since Nosal hired him in 1993.
"He checks a lot of boxes for us," Pacella said. "He has office, industrial and even retail experience." Pacella said NAI Pleasant Valley is looking to add brokers, both seasoned and rookies, for its Independence office, which serves Cleveland, and its White Pond office in Akron.
For years, commercial real estate agents and building owners throughout the region referred to Nosal as "Mr. Rockside" because he knows the Rockside Road office market so intimately and did so many deals there over the years.
However, Nosal said his experience has broadened over the years to include other property types and brokerage services beyond office leasing.
"It's like anything else," Nosal said. "You know a lot of people and they want you to work on things and suggest ideas."
Pacella said Nosal's reach was such that Nosal was a sounding board for the Faciana family as it bought NAI Daus and NAI Cummins to combine them as part of a drive to build a brokerage and complement Pleasant Valley's corporate services and national property management business, which both serve corporations with multiple offices and other operations.
Asked if he will miss hiring and training agents and running a company, Nosal said no.
"This is freeing," Nosal said. When Nosal became the Cleveland market leader for what was then Grubb & Ellis, he ushered in long-term stability for the operation, which had had three executives in less than five years.
"local" - Google News
February 20, 2021 at 03:19AM
https://ift.tt/3pBYT9D
Newmark's local leader bolts - Crain's Cleveland Business
"local" - Google News
https://ift.tt/2WoMCc3
https://ift.tt/2KVQLik
Bagikan Berita Ini
0 Response to "Newmark's local leader bolts - Crain's Cleveland Business"
Post a Comment