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Brooklyn-based brokerage TerraCRG is shaking up its leadership.
Dan Marks, a partner in the firm, has been promoted to CEO, with founder Ofer Cohen transitioning to chairman.
Marks told Bisnow in an interview Wednesday afternoon that the change isn't due to “any one particular thing,” nor is Cohen “stepping away.”
“We felt like this was a really good time to reenergize, refocus and restrategize how we're continuing to grow our market share,” Marks said.
Marks will focus on day-to-day operations and growing the team. The company consists of 20 brokers, which the firm hopes to double to as many as 40 by the end of the year. That growth will allow TerraCRG to cover the entirety of Brooklyn, Marks said.
Meanwhile, Cohen will focus on the big picture, including building relationships with institutional investors as more enter the Brooklyn market, Marks said. The firm has advised property owners, family offices and institutions including ExxonMobil, Two Trees Management and Prologis.
“We've operated so closely together for so long that I don't think this is going to be a very dramatic shift in the way that the business is operated,” Marks said.
Marks has been with TerraCRG for more than 12 years and was appointed partner of the firm in 2016. He has also headed the company’s civic and philanthropic efforts, serving as the vice chair of the board of the Brooklyn Arts Council and Opportunities for a Better Tomorrow.
Cohen founded the firm in 2008 and has been CEO for 16 years. He has also served as chairman of the Downtown Brooklyn Partnership.
“This is the natural evolution of our company, and I am so fortunate to have several partners that have been with me for over a decade,” Cohen said in a statement.
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