CALABASAS, Calif.--(BUSINESS WIRE)--
Marcus & Millichap (NYSE: MMI) announced that Scott M. Holmes has joined the firm as senior vice president and national director of its retail division, which provides investment, advisory and transaction services for every type of retail real estate. Holmes, an industry veteran with over 25 years’ experience in the commercial real estate investment business, will be responsible for directing the firm’s retail business strategy nationwide. Marcus & Millichap’s retail division is among the leading brokers of single-tenant net lease assets and shopping centers in the industry.
“We are very pleased to welcome to our team a professional as seasoned and well-regarded in the industry as Scott,” said Alan Pontius, national director of the firm’s specialty divisions. “Given his experience and deep institutional background, we are excited for him to take the reins in leading what will become the next iteration of both Marcus & Millichap and Institutional Property Advisors’ (IPA) retail divisions.” IPA is a specialized division of the company designed to provide brokerage and advisory services to major clients.
Most recently, Holmes was a senior vice president at Cole Real Estate Investments Inc. where he was responsible for leading the company’s shopping center acquisitions team, overseeing national investment activities, and sourcing acquisitions nationally. Prior to that, he held leadership roles at AEW Capital Management L.P. and American Realty Advisors. Over the course of his career, Holmes has closed more than $6 billion in commercial real estate transactions.
“I look forward to hitting the ground running at Marcus & Millichap,” says Holmes. “This is an exciting time to be in the retail industry and a perfect opportunity for me personally to take the helm of this uniquely positioned division at one of the leading retail investment advisory firms in the country.”
In the 12-month period ending September 2017, Marcus & Millichap’s retail division closed $11.62 billion in sales volume.
About Marcus & Millichap (NYSE: MMI)
With over 1,700 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed nearly 9,000 transactions in 2016 with a value of approximately $42.3 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com
About Institutional Property Advisors
With a network of senior-level investment advisors located throughout the United States, Institutional Property Advisors (IPA) is qualified to meet the needs of institutional and major private investors. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, superior support services and acclaimed research offer customized solutions for the acquisition and disposition of institutional properties and portfolios. www.IPAusa.com
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