The Real Deal Los Angeles

Richard Rizika is leaving CBRE to start his own brokerage

The top producer had been with the company 30 years
By Natalie Hoberman | February 27, 2018 02:00PM

Richard Rizika (Credit: Connect Conferences, Pixabay)

Richard Rizika, one of CBRE’s top retail brokers for 30 years, has left the company to start his own shop, The Real Deal has learned.

Rizika, who was vice chairman of the retail services group, is said to be bringing with him a dozen people, and more could follow, sources said.

A representative from CBRE did not respond to requests for comment, but Rizika’s profile on the company website now leads to an error page. Rizika did not immediately return requests for comment.

Rizika was tapped to lead the retail leasing on the Ratkovich Company’s The Bloc, a 1.8-million-square-foot mixed-use development in Downtown Los Angeles that has faced numerous setbacks.

During his tenure at CBRE, Rizika also completed deals for retail brands including JC Penney, Pottery Barn, Living Spaces, Shake Shack and Joe & the Juice.

Other notable departures from CBRE in recent years have included investment broker Kevin Shannon and retail broker Jay Luchs, who are now at Newmark Knight Frank.

Meanwhile, CBRE has not lost its stride. The company’s commercial brokerage unit had more commercial deals in the U.S. than any other brokerage in 2017.