Former Cushman & Wakefield CEOs Bruce Mosler (from 2005 to 2010) and Arthur Mirante (from 1984 to 2005) say the vying among brokerage firms to handle leasing for owners is beginning to look like the boom years, in part because of the renewed sales activity that often leads to a new landlord representative.
While the two brokers have created a 14-person team to manage leasing for about 4 million square feet in Manhattan, they say in an interview with Insights from The Real Deal (see video above) they could nearly double that.
“I would think our team could probably handle 5 to 7 million square feet of agencies in Manhattan. And do so without overstepping our punt coverage,” Mirante, president of global client development, said, using a football comparison. The team also handles investment sales and tenant-side leasing, he said.
He and Mosler, chairman of global brokerage, spoke about their leasing agency work, Cushman’s loss of the team led by Mitchell Konsker and Paul Glickman to Jones Lang LaSalle, and the firm’s return to profitability in the fourth quarter.