Keith Caggiano and Roshan Shah join Avison Young in New York City

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Avison Young Commercial Real Estate (BC)

Oct 30, 2018, 09:00 ET

Respected commercial real estate veterans will help strengthen firm's expanding New York City operations

NEW YORK, Oct. 30, 2018 /PRNewswire/ - Mitti Liebersohn, Avison Young Principal and President of the company's New York City office, today announced the strategic hiring of Keith Caggiano and Roshan Shah.

Effective immediately, Caggiano and Shah become Principals of Avison Young based in the firm's Manhattan office. Most recently, both Caggiano and Shah were Executive Vice-Presidents at CBRE in New York City where, individually, they were consistently recognized as being among that company's top 10% of revenue producers, nationally.

"Keith and Roshan are two of the most highly regarded and successful commercial real estate brokers in the Tri-State Region," comments Liebersohn. "At any age, that is a noteworthy distinction. The fact that they have achieved this elite status when most brokers are just beginning to advance their careers is, quite simply, remarkable. For us, it means they will not only have an immediate impact on the expansion of the firm's New York operations, but they will help us lead the national platform for many years to come."

Caggiano is a top leasing broker in Manhattan and Brooklyn, having closed more than 6 million square feet (msf) of deals for some of New York's most iconic buildings and most high-profile tenants during his 20-year career. He is a graduate of Yale University where he was an All-Ivy League baseball player and captain of the varsity team. He joined CBRE in 2001 after beginning his career in real estate as a Managing Director at Shorenstein.

Caggiano was the exclusive leasing agent for the iconic, 3-msf MetLife Building from 1998 until its 2005 sale to Tishman Speyer. More recently, he was the leasing agent for the 2-msf-plus 787 Seventh Avenue, which was acquired by Commonwealth Partners in 2016. In 2017, he negotiated a 340,000-square-foot (sf) renewal for law firm Sidley Austin at 787 Seventh Avenue. Earlier in 2018, Caggiano was the lead member of the CBRE team, which included Shah, representing Apollo Global Management on its lease buyout at 730 Fifth Avenue, a 100,000-sf partial long-term relocation to 1095 Avenue of the Americas, and a 200,000-sf lease renewal of Apollo's global headquarters at 9 West 57th Street. Caggiano has also represented other financial giants, including Trust Company of the West and Wells Fargo.

In Brooklyn, Caggiano and Shah were the leasing agents for the 8-msf MetroTech Center, where they were responsible for negotiating more than 2 msf of deals. Recent and notable tenant representation assignments in Brooklyn include Hillary Clinton's presidential campaign headquarters lease at One Pierrepoint Plaza totaling 80,000 sf, Tough Mudder's 72,000-sf relocation to 15 MetroTech Center, and the sales of 16 Court Street and 57 Willoughby Street.

Athur Mirante, Avison Young's Tri-State President and member of the firm's board of directors, says: "I am looking forward to working with these two professionals who have distinguished themselves by the quality and stature of the clients they have represented. We welcome them with open arms to our Avison Young family."

"This is the right move for me, at the right time and to the right firm," notes Caggiano. "I am so very impressed by the firm's commitment to expand in Manhattan and beyond, and I am eager to contribute as a Principal to that already significant and sustained growth."

Caggiano is a member of the Real Estate Board of New York and an active Yale University alumnus. He serves on the finance committee of the Yale Club of New York, where he successfully led the club's efforts to revitalize the historic building's retail portion with a long-term lease to retailer J. Press in 2016.

Shah brings 16 years of commercial real estate experience to Avison Young, having begun his career at CBRE in 2002. Throughout his career, he has represented some of the largest and most prominent hedge funds and private-equity firms in their national corporate real estate matters. He has also advised many of India's largest corporations, including TATA and Reliance, on their real estate dealings across North America. In August 2018, Shah represented ICICI Bank, India's largest private bank with $175 billion in assets, on its U.S. headquarters relocation to 575 Fifth Avenue.

Before being promoted to Executive Vice-President earlier in 2018, he was one of CBRE's youngest senior vice-presidents. In 2010, he was a member of the team that represented tech giant Google in its $1.8-billion acquisition of 111 Eighth Avenue, then the largest commercial real estate purchase by a tenant in U.S. history. The same year, he advised Deka Immobilien, one of Germany's largest asset managers, in its $123-million acquisition of 19 West 44th Street, and collaborated with Shorenstein – one of the largest privately held real estate firms in the U.S. – on the sale of 125 Park Avenue to SL Green for $330 million.

"Avison Young's Principal-led structure is the ideal environment for me, and I look forward to collaborating with my new colleagues here, many of whom I already know and greatly admire," says Shah. "I am confident that the company's unparalleled global platform of real estate services will provide me with the competitive advantage needed to best serve my clients."

Shah is active in the industry as a member of the Real Estate Board of New York. He also serves on the Board of Directors of Even Ground, and as class secretary for his graduating class at Harvard Business School, where he is also an active alumni volunteer.

Avison Young is the world's fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 2,600 real estate professionals in 84 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial, multifamily and hospitality properties.

For further information/comment/photos:

Sherry Quan, Principal and Global Director of Communications & Media Relations,
Avison Young: 604.647.5098; cell: 604.726.0959 [email protected]
Tom Nolan/Francisco Miranda, Great Ink PR, New York, 212.741.2977
[email protected]; [email protected]
Kayleigh Clark, Marketing Co-ordinator, New York City, Avison Young: 212.729.3632 [email protected]

www.avisonyoung.com

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