CRE N Illinois

Marcus & Millichap expands workforce and downtown office space

Marcus & Millichap is expanding its infrastructure and staffing in Chicago to accelerate its market share in the region, according to an announcement from the company.

Marcus & Millichap will add about 6,000-square-feet of space in its downtown building located at 333 W. Wacker Dr., according to the company. The downtown office space allows for more than 80 sales professionals, originators and staff. The three managers tasked with supporting agents include Matricaria, David Bradley and Joseph Powers. Previously the firm had 47 agents and staff members.

The firm is expanding personnel in its Oak Brook office as well. There the office personnel count will go from 34 agents and staff to about 45 people to support the suburban market.

“Chicagoland is a region where our institutional and major private client business is rapidly evolving,” said Richard Matricaria, senior vice president and division manager, based in the company’s Chicago Downtown office. “We are seizing opportunity to accelerate our company’s growth in a key, strategic urban market through the expansion of our downtown office, and enhance synergy with our top Chicago-based Institutional Property Advisors (IPA) agents under one roof.”

Marcus & Millichap’s Chicagoland offices closed 291 transactions in 2016, valued at more than $1.163 billion in sales volume.