STEVEN E. CLANCY
Known as ‘dominant’
Further bolstering its retail and suburban brokerage arms, CB Richard Ellis/Whittier Partners has named Steven E. Clancy and Christopher Angelone as its newest partners, President Andrew W. Hoar acknowledged last week.
“We’re ecstatic,” Hoar told Banker & Tradesman, with each nominee winning unanimous backing from CB/Whittier’s existing cadre of principals. “They are both great assets to the company and we are certainly very pleased to be adding them to the partnership.”
Angelone has been with the firm since 1998, at which time he joined forces with William Moylan to head up the retail investment sales operation. In subsequent years, the group has handled some of the region’s largest retail transactions, including the sale of a massive East Coast portfolio owned by Konover & Assoc. in 2002 that fetched more than $250 million and more than a dozen deals already brokered in 2004. To date, the retail group has peddled about $150 million in product this year, Angelone estimated, and is also said to be nearing completion of a major $120 million sale of six grocery-anchored shopping centers in Greater Boston to Equity One Inc. of Florida.
Angelone would not comment on that sale pending its consummation, but did predict that 2004 volume could exceed $300 million for CB/Whittier’s retail division. “I think they have established themselves as the premier retail sales team in New England,” Hoar said of Angelone and his colleague Moylan, who was made a partner earlier this year. “It’s a nice honor,” Angelone said of the designation, which takes effect in January.
Efforts to contact Clancy were unsuccessful by press deadline, but Hoar was equally complimentary of the suburban office and industrial broker, who himself has teamed up in recent years with colleague James F. Nicoletti. Both men came to CB/Whittier last year as a result of its merger with Insignia/ESG, overnight giving the firm’s already solid suburban division a pair of seasoned veterans with a solid presence in the markets south and west of Boston.
Clancy is “a dominant office and industrial broker,” said Hoar, who also praised him and Angelone for being “great corporate citizens.” Recent deals by Clancy included leasing nearly 100,000 square feet in Norwood on behalf of Bayer HealthCare.
