Top Industrial Broker
Cushman & Wakefield Inc.
Grubb & Ellis
CB Richard Ellis
David Hasbrouck didn't just beat the other industrial brokers in terms of the value of deals signed last year he crushed them.
Hasbrouck, executive director with Cushman & Wakefield, helped his firm close well over $269 million worth of deals (of which his portion computes to $83.9 million). That's more than double the amount of his nearest competitor, Bart Pucci of Grubb & Ellis, who signed $35 million worth of deals.
How did Hasbrouck manage this feat? With great tenacity, according to his clients.
George Bravante, managing partner of Newport Beach-based Bravanti Curci Investors LLP, says Hasbrouck represented his company in the sale of a troubled 21-acre property in Santa Fe Springs that netted a surprising $9 million.
"He got us $2 million more than we deserved. He was able to squeeze the last penny out of it. When David works on a deal with you, it's like having a partner," he said. "Yet, he never loses it. He has a million things go wrong, but he stays as solid as the rock of Gibraltar."
The biggest deal he completed was the sale of the Harvey/Warschaw industrial portfolio in the City of Commerce to Southern California Industrial Fund. The nine-building site brought in $37 million.
Another high-profile contract was the $40 million sale of the Lewis Business Center in Van Nuys to Prudential Real Estate Investors, a 13-year client for which he has completed more than $150 million in transactions. He has subsequently leased up to 80 percent of the 450,000-square-foot project to four long-term tenants.
"We take a team approach here, with three to five people working on deals, so I can juggle different projects and know they are all in good hands," Hasbrouck said.
Hasbrouck fell into the business in 1975 after a few pep talks from his college roommate's dad.
"He was a developer who had worked for a national real estate company and he used to talk to us about his deals and new projects," said the 45-year-old USC alumnus. "The industry sounded exciting, so when I graduated, I joined Cushman & Wakefield and haven't looked back since."
This year, Hasbrouck expects to complete 1.5 million square feet of leasing and sales in the first quarter.
Nola L. Sarkisian
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