CBRE appoints Tri-State head

The global real estate investment firm has tasked Paul Allegretti with managing the firm’s vast New York, New Jersey and Connecticut portfolio as well as its new ‘green’ initiative.

Richard Ellis has promoted Paul Allegretti to senior managing director of the asset services group for the New York Tri-State Region. He will be based in Manhattan.

In his new role, Allegretti will be responsible for managing the firm’s approximately 50 million square feet of properties in the New York Tri-State region. He will also oversee CBRE’s new “green” initiatives. The firm recently announced it was integrating 100 US office buildings into the US Green Building Council’s Portfolio Program—designed to increase the number of office buildings operating under Leadership in Energy and Environmental Design (LEED) standards.

Allegretti brings more than nine years of property and portfolio management experience to his new position. Prior to rejoining CBRE in 2004, he was a portfolio manager with Insignia/ESG and also worked as a property manager at the Edward S. Gordon Company.  Allegretti has a MS in real estate from New York University and a BS in finance from Fairleigh Dickinson University.

CBRE has also been busy expanding its global talent this year. It promoted Lee Menifee this summer to director of global strategy, a newly created position within the firm. Menifee was previously a senior director within the global research team.

In October, the firm appointed three senior executives to its team of China real estate professionals. Greg Penn, based in Hong Kong, joined as senior managing director of investment properties; Martin Woods, executive director for CBRE projects in greater China, will be responsible for project management and building consultancy for mainland China, Hong Kong, Macau and Taiwan; and Jane Martin, who joined as senior director for CBRE Consulting, will lead corporate consulting assignments across greater China.