NGKF Capital Markets has hired self storage veterans Aaron Swerdlin, as executive managing director to lead the company’s national Self Storage Group, and Kenneth Cox, as senior managing director.
The team, which has handled more than $5 billion in self storage transactions, will work with capital markets professionals throughout the country to steer the direction of the specialty practice and build strategies to take advantage of opportunities in this fast-growing commercial real estate sector.
“Savvy investors are looking for more than just a commercial real estate broker,” said Jimmy Kuhn, president of Newmark Grubb Knight Frank (NGKF) and head of NGKF Capital Markets.
“We continue to enhance our platform so that we are equipped to most effectively assist REITs, institutional investors and private investors who have diverse needs, and are committed to hiring the best in the business to help them make intelligent decisions about their real estate portfolios.
“Aaron and Kenneth are recognized leaders in the self storage space,” Kuhn continued. “Their knowledge and long-standing relationships are invaluable for clients exploring this alternative asset class. We couldn’t be more pleased to have them on board and are confident they will help us build a highly successful self storage practice.”
According to the Self Storage Association, there were approximately 50,000 primary self storage facilities in the United States and another 4,000 secondary facilities at the end of 2011, equating to 2.3 billion square feet of space.