NAI Hiffman announces four new shareholders, three promotions

NAI Hiffman announced that Bob Assoian, managing director, management services is named one of four new shareholders to the firm. Patrick Sullivan, Terry Herlihy and Adam Stokes also have been promoted to executive vice president and shareholders.

Joining the firm in 2011 as managing director of management services and leading its property management platform, Assoian has led the growth of the firm’s managed asset portfolio an average net growth of 5 million square feet annually. A 32-year industry veteran, the growth of the NAI Hiffman management services platform is clearly illustrated through its year-to-date growth alone; the firm has been awarded more than 11 million square feet of industrial, office and medical properties onto its management services platform in 2019.

“Bob has continuously expanded his responsibility over the past eight years operating our management company and servicing our clients at the highest levels. He has become a key strategic partner in the growth and expansion of the company overall,” said NAI Hiffman CEO, Dave Petersen. “His ability to combine the highest levels of service with innovative operating metrics has earned him the opportunity to be offered a shareholder position at NAI Hiffman.”

Assoian has also been integral in the expansion of NAI Hiffman’s project management platform. Serving owners and tenants with all facets of construction oversight from capital projects to tenant improvements for office and industrial owners and users alike, the project management platform will be further expanding under Assoian’s leadership.

Sullivan is a 34-year commercial real estate leader in Industrial capital markets throughout the Midwest. He and his team have closed over $400 million in transactions in the past 24 months, including transactions with JCPenney, CenterPoint Properties and Ashley Capital. Primarily representing industrial owners in disposition services, Sullivan has made a name for himself representing more than 100 million square feet valued at more than $4.5 billion throughout his career.

Herlihy started his career in commercial real estate just over six years ago when he joined Cawley Chicago. In 2016, Herlihy joined NAI Hiffman and has since represented private and private clients in leasing and sales successes totaling more than two million square feet with a combined transaction value in excess of $80 million. With a focus on representing tenants and owners around O’Hare and throughout greater Chicagoland, Herlihy has grown his business through an emphasis on logistics, transportation and e-commerce, supporting his clients’ local and national strategies. Notable clients include Arrive Logistics, Olam International, JK Global, Axon Cable, Fastmore Logistics, Everwest Real Estate Investors, Distribution Realty Group and Pritzker Realty Group.

Stokes joined NAI Hiffman earlier this year in conjunction with its merger with well-known, long-standing Nicholson Porter and List. A 29-year commercial real estate expert, Stokes is primarily focused on the representation of owners and users of industrial assets. Stokes has a long client roster spanning markets including O’Hare, Southwest Cook, I-55 and Central DuPage. Stokes has exceeded more than 600 million square feet of transactions with a total value in excess of $1.5 billion.

“The current shareholders and I are excited to welcome Pat, Adam and Terry as the newest brokerage leaders with a long-term interest in growing the special culture and business relationships at NAI Hiffman”, said Michael Flynn, COO. “As measured both by professional performance and personal presence, they have exceeded the standards exemplified by our leadership team.”