Listen to this article

Two of the world’s biggest commercial real estate services and investment management firms, JLL and CBRE, are bolstering their leadership ranks in the New Jersey region.

The former president of Savills Studley is joining JLL’s regional leadership team, that company announced Nov. 21.

Michael Colacino comes on board as president, Tri-State Brokerage. He will be based in Manhattan and lead corporate brokerage and consulting services in the region with a goal of further strengthening the firm’s position as a strategic real estate advisor, according to JLL. Colacino will work in partnership with New York Tri-State COO Stephen Schlegel. He will report to New York Region chairman and President Peter Riguardi.

Most recently, Colacino served as CEO of SquareFoot, a proptech company that provides brokerage services. He brings more than 30 years of industry experience to JLL.

“Michael is a highly regarded market expert who will play an essential role as we continue to focus JLL brokerage services to provide clients with sophisticated real estate solutions in an evolving market,” said Riguardi. “His deep experience and relationship-driven leadership will enhance our ability to work quickly and efficiently to achieve our clients’ goals.”

“Michael’s deep understanding of owner and occupier priorities, complemented by his expertise in technology, further positions JLL as the leading provider of commercial real estate consulting services in the city,” said Schlegel. “He will be a tremendous resource to both our internal team and our clients.”

Colacino began his career with Studley in 1991, following 10 years as a systems designer. According to JLL, he led the buyout of the firm from its founder before it was acquired by London-based Savills in 2014. Before joining SquareFoot, he founded proptech investment company Haiku Partners.

His work as a broker includes securing Time Warner’s moves to both the Time Warner Center and later Hudson Yards. He has also advised companies including NBC, Microsoft, Pillsbury Winthrop law firm, and others, JLL said.

Colacino graduated cum laude from Harvard College and has a master’s in real estate from New York University, where he graduate first in his class.

“JLL has always been highly regarded for its real estate consulting services,” Colacino said. “It is a privilege to join JLL. Our goal is to enhance JLL’s position as a trusted advisor focused on helping clients make the best decisions about their strategic real estate goals.”

CBRE

At CBRE, the firm is expanding its Capital Markets team with the addition of a pair – from JLL – that will focus on open-air, multitenant retail assets across the Mid-Atlantic and Northeast.

In a Nov. 20 announcement, the firm said Chris Munley joined as executive vice president and Colin Behr came on board as senior vice president.

“Chris and Colin bring a wealth of experience and expertise to our Retail Capital Markets team,” said CBRE Retail Capital Markets leader, Managing Director Chris Decouflé. “Their extensive track records and deep knowledge of the Mid-Atlantic and Northeast markets will be invaluable as we continue to serve our institutional retail clients.”

In September, Munley and Behr were part of a JLL team representing the seller in a transaction involving a more than 214,000-square-foot ShopRite-anchored complex in Burlington County.

Munley brings 14 years of experience to his new position. According to CBRE, he’s closed more than $6.4 billion in retail transactions throughout his career. Behr joins with over 11 years of commercial real estate experience; CBRE said he’s completed more than $4.5 billion in retail transactions.

Munley and Behr will work closely with existing National Retail Partners team members, including Vice Chairman Jeff Dunne and Senior Vice President David Gavin in the Metro New York area, as well as Senior Vice President Ryan Sciullo and Vice President Casey Smith in Washington, D.C., and Executive Vice President Nat Herald in Boston.