Manekin will head Casey Company undertakes reorganization

Commercial real estate

June 20, 1996|By Kevin L. McQuaid | Kevin L. McQuaid,SUN STAFF

Casey & Associates Inc. yesterday named longtime Baltimore real estate executive Robert A. Manekin as its president, a move designed to strengthen the commercial real estate firm's management ranks and competitive position.

The appointment of the former Manekin Corp. senior vice president and Julien J. Studley Inc. senior managing director coincides with efforts by several local firms to better compete at a time when large institutions such as pension funds own increasing amounts of real estate.

"My goal at Casey & Associates is to make it the pre-eminent commercial real estate firm in the region, bar none," said Manekin, 47.

Manekin said his compensation will be tied to the 33-year-old firm's revenue and profit growth. Last year, Casey posted a transactional volume of $310 million.

Manekin's hiring comes in the wake of several key personnel losses, including the May 1995 departure of Richard F. Blue Jr. to competitor Colliers Pinkard. His exit led Casey to begin a comprehensive planning process and reorganization.

"The process took a lot of objectivity and introspection," said James J. Casey, who will remain as the firm's chairman and chief executive.

When he becomes president and chief operating officer July 1, Manekin will be competing directly with both the Manekin Corp., the real estate firm founded by his father and uncle, and CB Commercial Real Estate Group, the Los Angeles-based brokerage firm whose local office is headed by his brother Richard.

"I don't intend to obsess on what others in the community do," Manekin said in response to a question about the family competition. "Rather, I'm going to focus more on what we at Casey will be doing."

Manekin joins Casey with nearly two decades of real estate experience, first with Manekin and for the past four years with Studley, a New York-based real estate services firm, where he represented Starbucks Coffee Co. and local law firms Venable, Baetjer & Howard and Smith, Somerville & Case.

At Manekin, he directed the firm's property management division and oversaw development of 19 buildings valued at $75 million.

At Casey, he will be responsible for operations of the three-office company including brokerage, property management, administration and finance.

"The challenge will be to mold the firm's considerable individual talents into a cohesive, dynamic force," Manekin said.

Pub Date: 6/20/96

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