JLL Snags Philip Palmer from CBRE to Head NYC Brokerage
Jones Lang LaSalle has hired Philip Palmer as an executive managing director overseeing the New York City office’s brokerage operation, The Commercial Observer has learned.
Mr. Palmer, 50, will supervise more than 100 brokers in the “significantly expanding” operation. He comes to JLL after four years at CBRE, where he was the managing director of the Midtown brokerage division. He’ll report to New York tri-state region President Peter Riguardi, Chief Operating Officer Stephen Schlegel and Director of Business Development Raymond Quartararo. His responsibilities at JLL will include managing daily operations, implementing growth strategies and recruiting new hires.
Mr. Palmer said his conversations with JLL began about two months ago. “It didn’t take long. I’m here for no other reason than it’s a great opportunity and a fantastic platform.”
Before joining CBRE, Mr. Palmer was vice president of Eastern sales at the Canadian printing company Quebecor World, Inc. and sold commercial printing services at RR Donnelly, where he started his career in 1988.
“The transition [into commercial real estate] wasn’t as much of a culture shock as I thought it would be,” Mr. Palmer said. “When it comes down to it, sales is sales. Whether it relates to commercial printing or commercial jet services or commercial brokerage, there’s still a process. One difference is when you’re managing folks in the printing business they’re less of free agents. They have a salary and commission structure whereas commercial real estate is 100 percent commission. So you have a different dynamic. I’d also say a difference is that in commercial real estate you’re pool of clients is the entire city–every floor of every building–versus publishers.”
On the subject of growth, Mr. Schlegel said JLL’s brokerage division has nearly doubled in size over the past three years and is still on an “aggressive” recruiting kick. “We view brokerage as the pointy end of the spear,” he said. “It’s what most resonates with clients. Based on the time we’ve spent together I think Phil has the ability to really drive its growth.”