SquareFoot hires former Savills president

Michael Colacino will join the online commercial brokerage as president

Nov.November 25, 2019 03:27 PM
Michael Colacino (Credit: LinkedIn)

Michael Colacino (Credit: LinkedIn)

Michael Colacino, the former president of Savills, has landed a gig at a proptech firm.

The industry veteran, who spent more than two decades at Savills, will join online commercial brokerage SquareFoot, as president.

SquareFoot, which launched in 2013, recently announced a $16 million Series B funding round, which Colacino participated in. The firm has raised $29 million in total, from investors including RRE Ventures, Rosecliff Ventures and Triangle Peak Partners.

Jonathan Wasserstrum, SquareFoot’s CEO, said he began discussing the potential for Colacino to join the firm when he stepped down as president of Savills at the start of the year. With Colacino at the helm, and added funding, the firm plans to expand its services to Houston and Washington D.C, Wasserstrum said.

At Savills, Colacino had advised Time Warner on their move into Related Companies’ 10 Columbus Circle, which until recently was named the Time Warner Center. He also advised them on their more recent move to Hudson Yards.

Earlier this year, SquareFoot acquired PivotDesk, an office-sharing marketplace that pairs hosts with guests for unused office space, which it purchased from flexible office firm Industrious.

SquareFoot says it has conducted 1,200 leasing deals on behalf of its clients, including mattress retailer Casper, office-space firm Breather and dog food retailer Ollie.

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