The Real Deal New York

Trio of Cushman leasing brokers jumps to JLL

Frank Coco, Owen Hane and Don Preate will serve as executive managing directors
By Mark Maurer | October 13, 2016 01:36PM

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From left: Owen Hane (credit Facebook), Don Preate and Frank Coco

A New York office leasing team at Cushman & Wakefield is leaving for JLL, just days after Cushman nabbed the top investment sales team in the city, sources told The Real Deal.

Owen Hane served as an executive director at Cushman, while Don Preate and Frank Coco were both executive vice presidents. They have largely handled tenant representation for firms such as Norway-based DNB Bank, Publicis subsidiary LBi and analytics software firm Media iQ Digital.

At JLL, they will each be executive managing directors, providing tenant representation and agency leasing services as well as new business services in the New York area, said a JLL spokesperson who confirmed the move. They will serve under Phil Palmer, executive managing director and head of JLL’s New York brokerage operations.

“Frank, Owen and Don are an experienced team and will be a terrific fit with our existing high-producing professionals,” said Palmer. “They will provide crucial support in growing JLL’s presence in the New York metropolitan area.”

A spokesperson for Cushman declined to comment, as did the brokers.

The brokers recently represented DNB Bank in a 45,000-square-foot lease at 30 Hudson Yards.

Hane, Preate and Coco are all industry vets, with about 30 years apiece working in New York-area commercial real estate. Coco joined Cushman in 1984, Preate in 1994 and Hane in 1997. In the past few years, the team has focused more on office leasing, after having worked with retailers such as Giorgio Armani, Tory Burch and Ermenegildo Zegna.

In 2011, JLL poached a top Cushman office leasing team including Mitchell Konsker, Paul Glickman, Matthew Astrachan, Mitti Liebersohn and Alexander Chudnoff. Those brokers have consistently been among JLL’s top producers. In 2015, JLL placed second in The Real Deal‘s ranking of top office leasing brokerages, with 10.6 million square feet of deals in 2014.  Cushman, whose stable of office brokers includes Bruce Mosler, Dale Schlater and Josh Kuriloff, placed fourth with 9.3 million square feet of deals, while CBRE led the ranking with 14.5 million square feet.

Last week, Doug Harmon, Adam Spies and Kevin Donner of Eastdil Secured’s New York investment sales team left that firm for Cushman, prompting speculation on how that move would impact the two firms and competition among industry brokers.