A family-owned fixture of the North Jersey commercial real estate market for nearly a century, The Garibaldi Group has named a non-family member as a principal and equity partner, as part of a succession planning process that is also bringing the next generation of family members into management.
Mike Witko, who has represented clients in various national and international assignments across multiple disciplines including office, laboratory, industrial, R&D, and land transactions for more than eight years, was named a principal of the firm, says The Garibaldi Group/CORFAC International’s chief executive officer Jim Garibaldi.
The move, says Garibaldi, “is intended to initiate an eventual change of company management to the next generation of leaders within our firm.” Witko is 38.
“In the short span of eight years since joining the firm, Mike has proven to be an invaluable asset in enhancing the firm’s production and stature, and contributing to its continued growth,” says Garibaldi. “His enthusiasm, energy and drive have earned him the respect of all those he works with, clients and associates alike. He consistently takes the firm-view in his day-to-day activities and responsibilities, and has contributed significantly to the firm’s new business development, as well as its recruitment and training initiatives. For those reasons, we were happy to welcome him recently as an equity partner in the firm, and look forward to a long and fruitful association with him for many years to come.”
Witko’s promotion to principal is also one of the rare times in the firm’s 97-year history in which a non-family member has had an equity partner stake in the business.
“It is a rarity both in the longevity of a company reaching 97 years, and within this company having a non-family member become a partner,” Witko tells GlobeSt.com exclusively. “It’s pretty exciting, without a question.”
Despite his new status in the firm, which was founded in 1919, his role will remain pretty much intact, Witko says.
“The day-to-day is still trying to be a producer,” he says. “Really just generating new business. That is the goal. Our hallmark is our brokerage services. We do have ancillary services which we’re always trying to use as a complement to our brokerage capacity.”
Besides traditional brokerage services, The Garibaldi Group provides strategic planning, tenant representation, project/construction management, lease administration, divestures, site selection and state incentives advisory services, architectural/alternative workplace strategies and logistics/supply chain consulting.
Witko holds a bachelor’s degree from Bentley University in Waltham, MA, and is a licensed real estate broker/sales person in New Jersey. Witko has been active in various charitable organizations including the Morristown Community Soup Kitchen, The Cornerstone Family Programs and Big Brothers and Big Sisters of Morris County.
Garibaldi also recently hired Scott Garibaldi, 27, and Jeff Garibaldi Jr., 34, sons of company president Jeff Garibaldi, as part of the initiative to prepare the next generation of company leaders to guide the The Garibaldi Group’s growth for future generations. Scott Garibaldi is a junior broker in the company’s Corporate Services group and Jeff Garibaldi is the firm’s director of marketing.
See the write up on Mike’s promotion at Globest.com.