{"id":1004115066,"date":"2015-03-09T06:45:31","date_gmt":"2015-03-09T14:45:31","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004115066"},"modified":"2022-12-08T09:51:25","modified_gmt":"2022-12-08T17:51:25","slug":"chambers-appoints-interim-president-ceo","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/chambers-appoints-interim-president-ceo\/","title":{"rendered":"Chambers Appoints Interim President &amp; CEO"},"content":{"rendered":"<p><em>By Barbra Murray, Contributing Editor<\/em><\/p>\n<div id=\"attachment_1004115068\" style=\"width: 160px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/03\/Marty-Reid-Chambers-Street.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004115068\" data-attachment-id=\"1004115068\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/chambers-appoints-interim-president-ceo\/marty-reid-chambers-street\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/03\/Marty-Reid-Chambers-Street.jpg\" data-orig-size=\"235,257\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Marty Reid Chambers Street\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Marty Reid Chambers Street&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/03\/Marty-Reid-Chambers-Street.jpg?w=235\" class=\"size-thumbnail wp-image-1004115068\" alt=\"Marty Reid Chambers Street\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/03\/Marty-Reid-Chambers-Street.jpg\" width=\"150\" height=\"150\" \/><\/a><p id=\"caption-attachment-1004115068\" class=\"wp-caption-text\">Martin Reid, Chambers Street<\/p><\/div>\n<p>Four months after announcing the impending resignation of president, CEO &amp; founder \u00a0Jack Cuneo, Chambers Street Properties has appointed Martin Reid, CFO, as interim president &amp; CEO.<\/p>\n<p>Cuneo, whose retirement was effective immediately upon Reid\u2019s being named as his temporary replacement, founded the company in 2004 and had served as its CEO since 2012, after having held the same titles at CBRE Advisors, Chambers Street\u2019s former investment advisor.<\/p>\n<p>In November 2014, when Chambers Street announced Cuneo\u2019s plans to retire, Cuneo explained his decision to exit the company. \u201cGiven the company\u2019s excellent portfolio and strong financial position, this is the right time for me to hand over the reins to new leadership who will take this company to its next phase of growth and success,\u201d he said.<\/p>\n<p>Now, Reid, who became Chambers Street\u2019s CFO &amp; executive vice president in 2012, and then its treasury and secretary later that year, will handle the responsibilities of president and CEO while the REIT\u2019s Nominating and Corporate Governance Committee continues its hunt for someone to take on the leadership positions permanently. In the meantime, the company has a highly qualified individual to steer the ship.<\/p>\n<p>Reid has more than 35 years of experience in the real estate industry and brings to the position expertise in real estate investment, capital markets and finance. Before being named CFO at Chambers Street, where he has been a member of the board since 2005, he operated in the role of vice president of development and acquisitions at Interstate Hotels &amp; Resorts. He has also held high-ranking positions at Cheswold Real Estate Investment Management, Redstone Hotel Partners and Thayer Lodging Group.<\/p>\n<p>&nbsp;<\/p>\n<p>As Cuneo noted last fall, Chambers Street was in a good place&#8211;and it\u2019s still in a good place. \u201cSolid fourth quarter results contributed to a strong finish to the year for Chambers Street, which included a quarterly Core FFO per share increase of 6.3% year-over-year, robust leasing volume of almost one million square feet, increased portfolio occupancy, and healthy acquisition and disposition activity,\u201d Cuneo said during Chambers Street\u2019s fourth quarter earnings call on February 25.<\/p>\n<p>&nbsp;<\/p>\n<p>Chambers Street\u2019s $3.4 billion portfolio, as of the close of 2014, consisted of 127 owned or majority owned office and industrial properties totaling approximately 37.7 million square feet of rentable space in 19 U.S. states, France, Germany and the U.K. Recent transactions include the $106 million <span style=\"text-decoration: underline\">acquisition of a 1.6 million square-foot industrial portfolio<\/span> in Northeast Pennsylvania, and the <span style=\"text-decoration: underline\">signing of a new tenant to 159,000 square feet<\/span> at the company\u2019s office tower at 90 Hudson St. in Jersey City, N.J. The lease brought the 420,000-square-foot building\u2019s occupancy up to 100 percent.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>LINKS:<\/p>\n<p>Chambers Street Acquires Industrial Portfolio in NE Pennsylvania<\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/regions\/mid-atlantic\/chambers-street-acquires-industrial-portfolio-in-ne-pennsylvania\/1004107933.html\">https:\/\/www.commercialsearch.com\/news\/regions\/mid-atlantic\/chambers-street-acquires-industrial-portfolio-in-ne-pennsylvania\/1004107933.html<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>Chambers Street Signs 159 KSF Office Lease at Jersey City\u2019s 90 Hudson<\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/regions\/mid-atlantic\/chambers-street-signs-159-ksf-office-lease-at-jersey-citys-90-hudson\/1004108635.html\">https:\/\/www.commercialsearch.com\/news\/regions\/mid-atlantic\/chambers-street-signs-159-ksf-office-lease-at-jersey-citys-90-hudson\/1004108635.html<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><em>\u00a0<\/em><\/p>\n<p>&nbsp;<\/p>\n<p>Four months after announcing the impending resignation of president, CEO and founder Jack A. Cuneo, Chambers Street Properties has appointed Martin A. Reid, CFO, as interim president and CEO.<\/p>\n<p>&nbsp;<\/p>\n<p>Cuneo, whose retirement was effective immediately upon Reid\u2019s being named as his temporary replacement, founded the company in 2004 and had served as its CEO since 2012, after having held the same titles at CBRE Advisors, Chambers Street\u2019s former investment advisor.<\/p>\n<p>&nbsp;<\/p>\n<p>In November 2014, when Chambers Street announced Cuneo\u2019s plans to retire, Cuneo explained his decision to exit the company. \u201cGiven the company\u2019s excellent portfolio and strong financial position, this is the right time for me to hand over the reins to new leadership who will take this company to its next phase of growth and success,\u201d he said.<\/p>\n<p>&nbsp;<\/p>\n<p>Now, Reid, who became Chambers Street\u2019s CFO and executive vice president in 2012, and then its treasury and secretary later that year, will handle the responsibilities of president and CEO while the REIT\u2019s Nominating and Corporate Governance Committee continues its hunt for someone to take on the leadership positions permanently. In the meantime, the company has a highly qualified individual to steer the ship.<\/p>\n<p>&nbsp;<\/p>\n<p>Reid has more than 35 years of experience in the real estate industry and brings to the position expertise in real estate investment, capital markets and finance. Before being named CFO at Chambers Street, where he has been a member of the board since 2005, he operated in the role of vice president of development and acquisitions at Interstate Hotels &amp; Resorts. He has also held high-ranking positions at Cheswold Real Estate Investment Management, Redstone Hotel Partners and Thayer Lodging Group.<\/p>\n<p>&nbsp;<\/p>\n<p>As Cuneo noted last fall, Chambers Street was in a good place&#8211;and it\u2019s still in a good place. \u201cSolid fourth quarter results contributed to a strong finish to the year for Chambers Street, which included a quarterly Core FFO per share increase of 6.3% year-over-year, robust leasing volume of almost one million square feet, increased portfolio occupancy, and healthy acquisition and disposition activity,\u201d Cuneo said during Chambers Street\u2019s fourth quarter earnings call on February 25.<\/p>\n<p>&nbsp;<\/p>\n<p>Chambers Street\u2019s $3.4 billion portfolio, as of the close of 2014, consisted of 127 owned or majority owned office and industrial properties totaling approximately 37.7 million square feet of rentable space in 19 U.S. states, France, Germany and the U.K. Recent transactions include the $106 million <span style=\"text-decoration: underline\">acquisition of a 1.6 million square-foot industrial portfolio<\/span> in Northeast Pennsylvania, and the <span style=\"text-decoration: underline\">signing of a new tenant to 159,000 square feet<\/span> at the company\u2019s office tower at 90 Hudson St. in Jersey City, N.J. The lease brought the 420,000-square-foot building\u2019s occupancy up to 100 percent.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>LINKS:<\/p>\n<p>Chambers Street Acquires Industrial Portfolio in NE Pennsylvania<\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/regions\/mid-atlantic\/chambers-street-acquires-industrial-portfolio-in-ne-pennsylvania\/1004107933.html\">https:\/\/www.commercialsearch.com\/news\/regions\/mid-atlantic\/chambers-street-acquires-industrial-portfolio-in-ne-pennsylvania\/1004107933.html<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>Chambers Street Signs 159 KSF Office Lease at Jersey City\u2019s 90 Hudson<\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/regions\/mid-atlantic\/chambers-street-signs-159-ksf-office-lease-at-jersey-citys-90-hudson\/1004108635.html\">https:\/\/www.commercialsearch.com\/news\/regions\/mid-atlantic\/chambers-street-signs-159-ksf-office-lease-at-jersey-citys-90-hudson\/1004108635.html<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Four months after announcing the impending resignation of president, CEO &amp; founder Jack Cuneo, Chambers Street Properties has appointed an interim president &amp; CEO. <\/p>\n","protected":false},"author":969,"featured_media":1004115068,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742],"tags":[],"class_list":["post-1004115066","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Chambers Appoints Interim President &amp; CEO - 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\/chambers-appoints-interim-president-ceo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chambers Appoints Interim President &amp; 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