Robert Donnelly, Jr. Promoted to Executive Director
6 May, 2010, Morristown
Cushman & Wakefield, Inc. has promoted Robert Donnelly, Jr., CCIM, to the position of executive director, announced Gualberto 'Gil' Medina, the firm's New Jersey executive managing director. A resident of Allamuchy, N.J., Donnelly is based in Cushman & Wakefield's Morristown office; he specializes in corporate and investment sales as a member of the firm's highly successful Metropolitan Area Capital Markets Group investment sales team.
Donnelly joined Cushman & Wakefield in 2002 and has concluded transactions on behalf of such notable clients as AT&T, Alcatel-Lucent, BASF, General Electric, JP Morgan Chase and Hewlett Packard. Recently, he negotiated a 65,000-square-foot high-tech lease on behalf of Integrated Microwave Technologies (formerly RF Extreme) at 200 International Drive in Mount Olive, N.J.
Donnelly has been involved in more than $1.4 billion of corporate and investment property sales and last year was named among Cushman & Wakefield's top 10 investment sales brokers nationwide. He has led the Metropolitan Area Capital Markets Group's expansion into middle-market transactions less than $20 million. To this end, since 2004 he has completed 26 sales in this niche, with a cumulative value of more than $192 million.
Most recently, he represented TruMed Properties, LLC in its $1.3 million acquisition of 825 Rahway Avenue, an office property in Union, N.J. He subsequently brokered a 20,000-square-foot, full-building office and laboratory lease to PLUS Diagnostics. In 2009, he orchestrated the sale of 72 Deforest Avenue, a 150,000-square-foot, multi-building office and laboratory campus in East Hanover, N.J., for $12.5 million.
"New Jersey has a vast inventory of middle-market properties," Donnelly said. "While commercial real estate sales, in general, remain in a state of flux, this segment will likely see improved activity in the coming months. We expect that sellers and buyers will begin to converge on pricing later this year and into 2011, which will generate more sale transactions."
In addition to middle market trades, Donnelly and his team handle many of the region's biggest and most significant investment sales. In fact, last year the Metropolitan Area Capital Markets Group was involved in New Jersey's largest office, industrial, apartment and retail sales, and achieved a 43 percent market share in the New York tri-state suburbs.
"Rob has been an integral part of his team's success over the past several years," Medina said. "His professionalism, expert knowledge in his specialty and impeccable client service continue to propel his career forward. We congratulate him on this well-earned promotion."
In 2008, the Real Estate New Jersey trade publication recognized Donnelly among its "40 under 40" rising stars in the industry. His team is a past recipient of Cushman & Wakefield's "National Deal of the Year" award, and has won NAIOP New Jersey's prestigious "Deal of the Year" award six times and the Westchester NAIOP Creative Deal of the Year award once.
Donnelly earned a bachelor's degree in business administration - marketing, with a minor in computer science, from Appalachian State University in North Carolina. He received his Certified Commercial Investment Member (CCIM) designation in 2004 and holds a real estate license in the state of New Jersey.