{"id":1004108919,"date":"2014-12-05T08:19:34","date_gmt":"2014-12-05T16:19:34","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004108919"},"modified":"2022-12-06T08:26:08","modified_gmt":"2022-12-06T16:26:08","slug":"marcus-millichaps-addition-of-retail-to-its-mix-a-smart-play","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/marcus-millichaps-addition-of-retail-to-its-mix-a-smart-play\/","title":{"rendered":"Marcus & Millichap\u2019s Addition of Retail to its Mix–A Smart Play"},"content":{"rendered":"

By Barbra Murray, Contributing Editor<\/em><\/p>\n

\"Hessam<\/a>

Hessam Nadji, Marcus & Millichap<\/p><\/div>\n

Four years after launching Institutional Property Advisors as its multi-family brokerage division, real estate investment services firm Marcus & Millichap has expanded the platform to include a new sector with the introduction of IPA-Retail.<\/p>\n

\u201cAs part of our stated growth plan, we are actively expanding in office, hospitality, multi-tenant retail, self-storage and seniors housing sectors,\u201d Hessam Nadji, Chief Strategy Officer, Marcus & Millichap, told Commercial Property Executive<\/i>.<\/p>\n

IPA-Retail, as IPA has since 2010, will provide investment advisory, brokerage and capital markets services to institutional and leading private investors. The foundation of the new offshoot, and upcoming offshoots, is simple: people.<\/p>\n

\u201cWe are achieving this [expansion strategy] through the addition of highly experienced executives in the capacity of specialty directors, who are providing training, branding and business development leadership in each of these segments to our existing brokers,\u201d Nadji added.<\/p>\n

Bill Rose, a vice president with Marcus & Millichap and director of the firm’s retail division,\u00a0will oversee IPA-Retail.<\/p>\n

There\u2019s something happening in the national retail sector.\u00a0 As noted in M&M\u2019s third quarter investment survey, retail is still on the road to full recovery but the worst is in the rearview mirror. Sentiment tells the story; 55 percent of survey respondents anticipate that the value of their retail assets will rise over the next year, with an average expected increase of 2.9 percent.<\/p>\n

\u201cThe timing is pretty close to ideal,\u201d Michael Lagazo, senior advisor, Retail, with commercial real estate advisor Sperry Van Ness, said of IPA-Retail\u2019s launch when speaking to CPE<\/i>. \u201cWhatever profitability there is left in the market is at a right balance, meaning we\u2019re not at a point where there\u2019s so much artificial appreciation that it\u2019s just diving up prices without any added value to the assets. There has not been a balance of supply and demand as there is now in the retail market for the past seven years, so they know what they\u2019re doing.\u201d<\/p>\n

While IPA may be new to the game at just four years old, its expansion into retail is being taken seriously by competitors. After all, parent company Marcus & Millichap is a veteran player in the market.<\/p>\n

\u201cMarcus & Millichap already has notable, very mature relationships with both accredited institutional investors as well as private investors in ownership,\u201d Lagazo added. \u201c[IPA-Retail] will capture market share quickly, they\u2019ll achieve credibility in the retail market. It\u2019s a smart play.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

According to retail analysts, Marcus & Millichap’s timing was ideal in expanding its platform to include a new sector with the introduction of IPA-Retail.<\/p>\n","protected":false},"author":952,"featured_media":1004109109,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,21749],"tags":[],"class_list":["post-1004108919","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-retail"],"acf":[],"yoast_head":"\nMarcus & Millichap\u2019s Addition of Retail to its Mix-A Smart Play - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/marcus-millichaps-addition-of-retail-to-its-mix-a-smart-play\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Marcus & Millichap\u2019s Addition of Retail to its Mix--A Smart Play\" \/>\n<meta property=\"og:description\" content=\"According to retail analysts, Marcus & Millichap's timing was ideal in expanding its platform to include a new sector with the introduction of IPA-Retail.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/marcus-millichaps-addition-of-retail-to-its-mix-a-smart-play\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-12-05T16:19:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-06T16:26:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/12\/Marcus-Millichap-Hessam-Nadji1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"354\" \/>\n\t<meta property=\"og:image:height\" content=\"336\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Anna Spiewak\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/marcus-millichaps-addition-of-retail-to-its-mix-a-smart-play\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/marcus-millichaps-addition-of-retail-to-its-mix-a-smart-play\\\/\"},\"author\":{\"name\":\"Anna Spiewak\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/1bbb99675c2609ea2e6792f8b25d7b76\"},\"headline\":\"Marcus & Millichap\u2019s Addition of Retail to its Mix–A Smart Play\",\"datePublished\":\"2014-12-05T16:19:34+00:00\",\"dateModified\":\"2022-12-06T16:26:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/marcus-millichaps-addition-of-retail-to-its-mix-a-smart-play\\\/\"},\"wordCount\":432,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/marcus-millichaps-addition-of-retail-to-its-mix-a-smart-play\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/12\\\/Marcus-Millichap-Hessam-Nadji1.jpg\",\"articleSection\":[\"News\",\"Retail\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/marcus-millichaps-addition-of-retail-to-its-mix-a-smart-play\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/marcus-millichaps-addition-of-retail-to-its-mix-a-smart-play\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/marcus-millichaps-addition-of-retail-to-its-mix-a-smart-play\\\/\",\"name\":\"Marcus & Millichap\u2019s Addition of Retail to its Mix-A Smart Play - 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