News
Driving Faster
May 12, 2010
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| We then dropped by the University Club, where Jones Lang Tri-State prez Peter Riguardi addressed YM/WREA at its monthly luncheon, reminiscing about his 27 years in the brokerage business, starting from when he was a 19-year-old student at Iona. Last year, he closed $25M in commissions at the firm and says that although he's pleased with how things are going, he's by no means satisfied (paraphrasing Mario Andretti, he notes, if you're comfortable driving, you're not driving fast enough). JLL should head into retail by year's end, and he wants to grow NY into a $200M business by '14- it no longer wants to be known as just a Chicago firm. |
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| Peter's very bullish about NY, and says Midtown's already improving. Large banks he's representing are feeling good about business and head counts, although they may not acquire more space, he adds. The next peak may surpass '05, he predicts, but we still have more supply than demand, which will have to work itself out before an uptick. Here, he joins YM/WREA's governors, clockwise from bottom left: Vornado's Glen Weiss, Cushman & Wakefield's Glenn Tolchin and David Berke, Centric Real Estate Advisors'Lindsay Ornstein, Time Equities' Michael Rudder, and Newmark Knight Frank's Alison Coffey and Robin Fisher. |
