Cushman & Wakefield is boosting its capital markets group with the hiring of Scot Farber as executive director. The industry veteran will continue to focus on the sale of office and industrial properties in Texas and surrounding states for financial institutions, pension funds, REITs, corporate users, and private investors.
He’ll join other C&W capital markets execs Susan Gwin (office properties), Tom Salanty (retail), and Lamont Rattler and David Ellis (multifamily assets). “Cushman & Wakefield has an incredible global platform, and the firm has been adding on to its already strong capital markets group,” Farber said.
During the past 10 years, Farber has brokered more than 150 investment property sales with a market value in excess of $2.75 billion. Notable DFW deals include the sale of NationsBank Plaza for Prudential, the sale of Bank One Center for Texas Teachers and Cigna, and the sale of Lincoln Plaza for MetLife.
Jim Underhill, CEO of the Americas for Cushman & Wakefield Inc., said the firm is on an aggressive growth path in the United States. “(Farber) is one of the top brokerage professionals in the region, and his presence at C&W embodies our commitment to recruit the best talent in the industry as we continue to build the most competitive sales team in the Southwest,” Underhill said.
Farber previously served as executive vice president of investment services for Grubb & Ellis Co., which he joined in 2002. There, he was a perennial top producer, both locally and nationally. Prior to Grubb, Farber was a director at Credit Suisse First Boston, a senior vice president at Jones Lang LaSalle, and a senior director at Cushman Realty Corp., C&W’s predecessor.
Last month, Grubb & Ellis filed for Chapter 11 bankruptcy protection and announced it was joining Newmark Knight Frank at BGC Partners. Grubb also recently saw the departure of tenant reps Jim Vanderslice and Will Sale, who now are with CNL Commercial.
Farber said he expects to see a growing number of commercial property sales in North Texas this year. “A lot of investors are including the Dallas-Fort Worth market on their target list,” he said. “I believe we will see additional capital from lenders this year as well.”