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Duke Realty Execs Land At Colliers, CRG After Prologis Buyout Closes

Stephanie Rodriguez, then with Duke Realty, speaking at the National Association of Real Estate Editors conference in December 2021.

As the fallout from the Prologis buyout continues, several veterans from Duke Realty are on the move.

Chicago-based CRG hired the former industrial REIT's three-person acquisition team of Mark Crawford, Joe Hawkins and Isaac Lau, CoStar reported this week.

Meanwhile, Colliers hired former Duke Senior Vice President Stephanie Rodriguez to become national director, the firm announced Tuesday.

The departures follow Prologis' $25.6B acquisition of Duke Realty, which sent shockwaves through the industrial real estate market and scattered much of the firm's personnel. The agreement was announced in June, and the deal closed earlier this week.

Last month, the Indianapolis Business Journal reported that the deal meant 300 Duke employees would lose their jobs, with about 40 reportedly moving to Prologis on a permanent or temporary basis.

Duke CEO Jim Connor said informing his staff of the $25.6B megadeal was the "worst [expletive] day of my life," the IBJ reported. 

Since then, some veteran Duke employees have moved to new companies, often with expanded roles.

The acquisition team's new home, an affiliate of construction firm Clayco, is in the process of growing its portfolio.

To date, CRG has largely focused on ground-up development, but CRG President Shawn Clark told CoStar the firm would invest about $2B in warehouse acquisitions over the next few years with the former Duke team leading the way.

Crawford had been at Duke for 16 years, Hawkins for 11 years and Lau for one year.

Meanwhile, Florida-based Rodriguez will oversee industrial services around the country for Colliers. She spent 15 years at Duke and previously held roles at Trammell Crow Co. and CBRE, according to a press release.