Scott Marshall has joined CB Richard Ellis as senior managing director. Based in the firm’s Oak Brook office, Marshall will oversee the Industrial and Suburban Office Agency groups and manage the Oak Brook office.
Previously, he was an executive managing director with Colliers International where he managed the firm’s strategy and development of the suburban office and industrial groups. Prior to Colliers, Marshall spent six years with Duke Realty Corporation, first as a senior leasing representative with the firm’s Chicago office group, and later as vice president of the Chicago industrial group.
Marshall brings his experience to an industrial team of 33 professionals at CB Richard Ellis. As he begins the year with a new firm, Marshall believes that 2011 will bring more opportunities to the industrial market.
“Activity is up,” says Marshall. “In the last two quarters of 2010 we saw leasing activity increase. I think that business sentiment has improved. In general, the market is looking healthier. Ownership is healthier and tenants are healthier.”
The firm is anticipating a fair amount of activity to take place in the first half of the year.
“We are tracking close to 1.5 million to 2 million square feet of deals that we think will happen in the first half of the year in the I-55 and I-80 corridors.”
Despite the increased activity, Marshall still believes that the Chicago market has some time before landlords begin to gain traction and rents increase.
“I think we still have some absorption to be made before we see rent growth.”
Marshall is a member of the Association of Industrial Real Estate Brokers (AIRE) and the National Associate of Industrial and Office Properties (NAIOP). He is an associate member of the Society of Industrial and Office Properties (SIOR). In addition, Mr. Marshall serves as a board member for the Chicago-area March of Dimes organization.
Marshall received his B.A. in Business Administration from Bradley University in Peoria, Ill.