Marcus & Millichap
{{Short description|American real estate company}}
{{Infobox company
| name = Marcus & Millichap, Inc.
| logo =
| type = Public
| traded_as = {{ubl|{{nyse|MMI}}| S&P 600 component|Russell 2000 Index component}}
| industry = Commercial real estate
| founded = {{start date and age|1971}}
| founder = George M. Marcus
| area_served = North America
| key_people = {{ubl
|Hessam Nadji (President) & (CEO
|Steve DeGennaro (CFO)
|Richard Matricaria COO)
|J.D.Parker COO)}}
| services = Commercial real estate brokerage, financing, research, advisory services
| website = {{URL|marcusmillichap.com}}
| hq_location_city = Calabasas, California
| hq_location_country = U.S.
| num_employees = Over 1,700 (2024)
| revenue = {{increase}} {{US$|696.1 million|link=yes}} (2024)
}}
Marcus & Millichap, Inc. is an American company that provides real estate brokerage, mortgage brokerage, research, and advisory services in the U.S. and Canada in the field of commercial property. It popularized the practice of listing properties exclusively with one brokerage firm. The company has over 1,700 employees in more than 80 offices across the U.S. and Canada.{{Cite web|title=Commercial Real Estate Offices {{!}} Marcus & Millichap|url=https://www.marcusmillichap.com/about-us/offices|access-date=2022-02-15|website=www.marcusmillichap.com|language=en}}
History
The company was founded in Palo Alto in 1971 by George M. Marcus.{{cite web | title=Profile: Marcus & Millichap, Inc. | url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=4249042 | publisher=Bloomberg L.P.}}{{Cite news | url=https://www.bizjournals.com/sanjose/news/2015/12/03/marcus-millichap-aims-for-bigger-piece-of-property.html | title=Marcus & Millichap expanding Institutional Property Advisors into office/industrial | first=Nathan | last=Donato-Weinstein | work=American City Business Journals | date=December 3, 2015}}
William Millichap was one of the first salespeople Marcus hired, and was made a partner in 1976.{{cite news | last1=Metcalf | first1=Tom | last2=Brandt | first2=Nadja | title=Bay Area Broker Becomes Billionaire on Sub $10 Million Listings | url=https://www.bloomberg.com/news/articles/2015-06-01/bay-area-broker-becomes-billionaire-on-sub-10-million-listings | work=Bloomberg News | date=June 1, 2015}} The company was incorporated in California on August 26, 1976 as G. M. Marcus & Company, and was renamed as Marcus & Millichap, Inc. in August 1978.{{cite web | url=https://www.sec.gov/ix?doc=/Archives/edgar/data/1578732/000119312521062693/d105051d10k.htm | title=Marcus & Millichap, Inc. 2020 Form 10-K Annual Report | publisher=U.S. Securities and Exchange Commission}}
In 2013, it became a public company via an initial public offering.
In December 2015, Marcus & Millichap expanded its institutional property market in the areas of office and industrial with the creation of [https://www.institutionalpropertyadvisors.com/about-us Institutional Property Advisors (IPA)]{{cite web | url=https://www.bizjournals.com/sanjose/news/2015/12/03/marcus-millichap-aims-for-bigger-piece-of-property.html | title=Marcus & Millichap aims for bigger piece of property-sales pie with new institutional focus | date=December 3, 2015 | work=American City Business Journals}}
In May 2016, Hessam Nadji was named Chief Executive Officer.{{Cite web|url=https://www.globest.com/sites/suleaygoren/2016/05/23/new-leadership-renewed-energy/?slreturn=20210630143843|title = New Leadership, Renewed Energy}}
In 2018, Marcus & Millichap expanded its Canadian presence with the acquisition of McGill Commercial.{{cite web | url=https://www.reminetwork.com/articles/marcus-millichap-acquires-mcgill-commercial/ | title=Marcus & Millichap expands Canadian presence
| date=September 10, 2018 | work=Reminetwork.com}} In the same year, Marcus & Millichap acquired Primecorp in Canada.{{cite web | url=https://www.connectcre.com/stories/marcus-millichap-expands-footprint-in-canada-again/ | title=Marcus & Millichap Expands Footprint in Canada, Again | date=October 10, 2018 | work=connectcre.com}}
In 2019, Marcus & Millichap further expanded in Canada when it acquired Form Real Estate Advisors{{cite web | url=https://www.mondaq.com/canada/real-estate/861192/marcus-millichap-inc-completes-cross-border-acquisition-of-form-real-estate-advisors-inc | title=Marcus & Millichap, Inc. Completes Cross-Border Acquisition Of Form Real Estate Advisors Inc. | date=November 10, 2019 | work=Mondaq}}
In 2020, Marcus & Millichap expanded its Marcus & Millichap Capital Corp (MMCC) division with the acquisitions of Metropolitan Capital Advisors, Mission Capital Advisors and LMI Capital.{{cite web|url=https://www.sfvbj.com/news/2020/apr/01/marcus-millichap-acquires-metropolitan-capital-adv/| title=Marcus & Millichap Acquires Metropolitan Capital Advisors | date=April 1, 2020 | publisher=sfvbj.com}}
References
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{{DEFAULTSORT:Marcus and Millichap}}
Category:1971 establishments in California
Category:Companies based in Calabasas, California
Category:Real estate companies established in 1971
Category:Real estate services companies of the United States
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