Net Lease Investment Sales Team “NNN Pro Group” Separates from Marcus & Millichap to Pursue New Strategic Business Opportunities as an Independent Group

Rhea-AI Summary

NNN Pro Group, a commercial real estate investment sales team, has officially separated from Marcus & Millichap as of January 1, 2023. Founded over 20 years ago by CEO Glen Kunofsky, the team has closed over $30 billion in real estate transactions. Despite the separation, both parties will maintain a strong collaborative relationship. Kunofsky expressed excitement about pursuing new strategic opportunities while continuing to offer tailored advisory services. Marcus & Millichap COO J.D. Parker acknowledged the team's contributions and extended best wishes for their future endeavors.

Positive

• NNN Pro Group has a strong history, managing over $30 billion in real estate transactions.
• The separation allows NNN Pro Group to pursue new strategic opportunities.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- NNN Pro Group, a leading investment sales team at commercial real estate firm Marcus & Millichap (NYSE: MMI), announced its separation from the national brokerage company effective January 1, 2023. Despite the departure, the two companies will continue to maintain a strong working relationship moving forward.

The team was founded over 20 years ago by Chief Executive Officer Glen Kunofsky, and is co-managed by Chief Operating Officer Nicoletti DePaul. To date, the team has closed on more than $30 billion of triple-net leased real estate across Retail, Industrial, and Office properties.

“We are incredibly excited about pursing strategic opportunities in addition to our existing advisory and brokerage services, further building out our company and continuing to focus on what we do best – providing dedicated and tailored advice and guidance to our clients on all of their real estate needs and beyond,” said Kunofsky. “I speak on behalf of our entire team in our enormous gratitude to Marcus & Millichap and its leadership for their unwavering support for the past two decades. We look forward to continuing to partner together in various capacities in the future.”

In a statement made by Marcus & Millichap, Chief Operating Officer J.D. Parker added “We are thankful to Glen and the entire NNN Pro Group for their contributions to Marcus & Millichap over the years. We wish them success in their ventures ahead and look forward to maintaining our productive working relationship.”

To learn more about NNN Pro Group, visit www.nnnpro.com

To learn more about Marcus & Millichap, visit www.marcusmillichap.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20230106005008/en/

media@nnnpro.com

gina.relva@marcusmillichap.com

Source: NNN Pro Group

FAQ

What is the significance of NNN Pro Group's separation from Marcus & Millichap on January 1, 2023?

The separation allows NNN Pro Group to pursue new strategic opportunities while maintaining a collaborative relationship with Marcus & Millichap.

Who founded NNN Pro Group and how much real estate have they closed on?

NNN Pro Group was founded by Glen Kunofsky and has closed over $30 billion in real estate transactions.

What are the future plans for NNN Pro Group after separating from Marcus & Millichap?

NNN Pro Group plans to focus on providing tailored advisory services and exploring new strategic opportunities.

How did Marcus & Millichap respond to NNN Pro Group's separation?

Marcus & Millichap expressed gratitude for NNN Pro Group's contributions and looks forward to maintaining a productive working relationship.