September 10, 2018
Investment sales leader Robert Knakal joined JLL to lead its NY investment team. The more than 35-year commercial real estate veteran left Cushman & Wakefield earlier this summer and had been in talks with several brokerage firms.
Knakal revealed the move in a Tweet, saying “Excited to announce I’ve joined @JLL as Chairman of #NewYork Investment Sales,” adding, “…he chose @JLL because of its rich history, culture of collaboration, integration and synergy and proprietary technology.”
The addition is a significant boost to JLL’s investment sales footprint in NY.
JLL’s Peter Riguardi says, “We’re really excited to have Bob Knakal join the JLL team together and in partnership with Mo Beler. We expect that they will grow our market share Investment Sales by providing tremendous service to their clients. We will blend the Investment Sales business with Aaron Appel’s finance business to have a market leadership team.”
He added, “We have heard for too long that sales assignments are being given to teams ‘who are up next or it’s their turn.’ With our familiarity with the NY landlord community because of our market leading tenant rep business and our leading agency business, we are planning on working those businesses together with our finance and sales business to change landlord’s decisions to be around ‘who can get the best price for my building.'”
Knakal’s focus is on middle-market deals under $100 million, though he indicates deals will be pursued above that level. Knakal’s career transaction volume encompasses more than 1,864 building sales, valued at in excess of $18 billion. Knakal also expects his 12-person team at Cushman & Wakefield to join him at JLL.
Knakal and Paul Massey founded Massey Knakal Realty Advisors in 1988, which after a more than 26-year run was acquired by Cushman & Wakefield in 2014, reportedly for $100 million. He entered the CRE industry in 1981 as a market research intern at Coldwell Banker.
For comments, questions or concerns, please contact Dennis Kaiser