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CBRE execs launch development, property management firm to oversee growing portfolio
The commercial real estate executives founded Parkside Realty as a “small, family-run office” to oversee developments like 215 North Peoria
Two CBRE executives are forming a new firm, laying the groundwork to extend their development careers past the 12-story office Fulton Market office complex they’re building.
The veteran brokers, Robert Wislow and Camille Julmy, are starting Parkside Realty, which will manage their existing portfolio and expand it with new projects, according to Crain’s.
The pair describe Parkside Realty as a “small, family-run office” they will oversee while continuing their commercial real estate practice, and keeping a “solid working relationship with CBRE.”
Wislow and Julmy have respectively served as chairman and vice chairman in CBRE’s Chicago office since 2014, when the real estate services giant acquired U.S. Equities Realty, the independent firm they co-founded in 1978.
The pair later paid $43 million to buy a parking lot at 215 North Peoria Street from developer Shapack Partners, which had scored zoning approval for an office mid-rise on the property in 2015. With backing from toy magnate Randy Rissman, they secured permits in March for an 85,000-square-foot office with 5,000 square feet of ground-floor retail. Crews led by general contractor Clayco broke ground on the project earlier this month.
Parkside Realty will operate out of 20 North Michigan Avenue, the same building U.S. Equities Realty once called home. [Crain’s] — Alex Nitkin