CALABASAS, Calif.--(BUSINESS WIRE)--Marcus & Millichap, Inc. (the “Company”, “Marcus & Millichap”, “MMI”) (NYSE:MMI), a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services in North America, today announced the planned retirement of Chief Operating Officer, Mitch LaBar at the end of 2019.
LaBar rejoined the company in 2016 as COO after initially retiring in 2008. Starting in 1984 he had a progression of roles, including a broker, regional manager and member of the company’s senior management team. In partnership with president/CEO, Hessam Nadji, LaBar helped update and improve the company’s management team, brokerage support and corporate initiatives as COO. This includes the development and reorganization of the company’s senior management team. “Mitch’s experience in all aspects of brokerage and management and his relationships with many of our top professionals has been instrumental in helping us implement numerous positive changes and improvements in the last three years,” said Nadji. “Together, we created an exciting succession plan that leverages the impressive talent and experience of our division managers and other key executives,” Nadji continued.
In March 2019 the company promoted J.D. Parker and Richard Matricaria to Executive Vice President Marcus & Millichap Real Estate Services, Inc. who will assume Mr. LaBar’s current responsibilities upon his retirement. “Richard and J.D. are company veterans with extensive brokerage experience and track records of leading top offices, divisions and corporate projects. We are fortunate to have a solid bench of senior executives working in partnership with them to constantly enhance the Marcus & Millichap platform. We believe having two Executive Vice Presidents overseeing brokerage operations with complementary geographic focuses and skill sets will increase our leadership bandwidth as we enter the next phase of growth and evolution,” commented Nadji.
Parker and Matricaria will continue to report to LaBar for the remainder of the year as he transitions into retirement by year-end. “Our entire team is grateful to Mitch for his support and commitment to the company and we wish him and his family the absolute best for the years ahead,” Nadji concluded.