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leadership profiles: |
Peter
E. Ricker Mr. Ricker's achievements in developing, repositioning, and leasing office properties and industrial portfolios nationwide have made him one of the country's most respected real estate executives. Mr. Ricker spearheaded the creation of MB Real Estate from the merger of two real estate entities and became its Chairman and CEO in 1998. The full-service real estate firm now manages more than 17 million square feet of office and industrial properties for leading U.S. and international firms. Under Mr. Ricker’s leadership, MB Real Estate was reengineered to be better equipped for the 21st century. Revitalizing the company’s structure and philosophy, he chartered a new direction that reflects modern business models, incorporates new industry lines, and streamlines support divisions. Upon the creation of MB Real Estate, Mr. Ricker personally secured two of Chicago’s most prestigious management and leasing portfolios—Citigroup Center and 230 West Monroe, owned by GE Asset Management, and One North Dearborn, One North LaSalle, and 360 North Michigan, owned by The Chetrit Group. Shortly after, Mr. Ricker helped to secure Chicago’s high-profile Michigan Plaza management and leasing assignment. As Mr. Ricker grows MB Real Estate’s resources and secures experienced team members, he has cemented MB Real Estate’s place as one of the most dynamic forces in the Midwest and East Coast real estate marketplaces. Building on the company’s reputation as one of the strongest forces in Chicago-area leasing, management, and redevelopment, Mr. Ricker has actively developed a senior-level team of top industry experts. Today, MB Real Estate leases and manages one of the largest portfolios in Chicago and recently had the highest percentage of leased space among its competitors. Mr. Ricker has also grown MB Real Estate’s construction capabilities, leading the team that redeveloped 7 million square feet of commercial properties in the last 10 years, including Citigroup Center and 230 West Monroe. He also led the redevelopment and repositioning of Michigan Plaza on behalf of Loeb Partners Realty LLC of New York, resulting in the leasing of over 1 million square feet. Currently, Mr. Ricker divides his time between New York and Chicago as a consultant to institutional property owners. Mr. Ricker began his career at The Helmsley Organization, rising to prominence in the 1970s during one of New York’s most difficult real estate markets. Successful in leasing the virtually empty, 2.5 million square foot One Penn Plaza, he went on to form The Helmsley Organization’s brokerage group and led its institutional portfolio as it expanded to over 20 million square feet in Connecticut, New Jersey, New York, Pennsylvania, and Delaware. In Philadelphia, he led the $50 million redevelopment of 1500 Market St. (Centre Square). At the same time, he also led the redevelopment and modernization of 2000 Market St. for Metropolitan Life and oversaw its re-leasing. In 1989, Mr. Ricker became chairman of the Galbreath Company, where he developed a tenant representation group of more than 100 brokers and increased the company’s management and leasing portfolio by 500 percent in the Connecticut, New Jersey, New York, and Pennsylvania markets. Under his leadership, the Galbreath team served major institutional clients such as General Electric, Metropolitan Life, Principal Financial, and Goldman Sachs. Mr. Ricker’s other real estate successes include his role in directing the development of California’s award-winning 1.1 million square foot Oakland Federal Office Building; his partnership with The Trump Organization and General Electric to arrange the redevelopment of the Gulf and Western Building into the Trump International Hotel and Tower; his redevelopment of the Delmonico Hotel to Trump Park Avenue; his $40 million redevelopment and repositioning of Pittsburgh’s USX Tower, where he leased an average of 200,000 square feet annually during a 5-year period, and facilitated its disposition and sale to AREA (Apollo Real Estate Advisors); and his redevelopment and repositioning of 14 Wall Street, enabling it to recapture value it had previously lost. In recognition of his accomplishments and civic involvement, Mr. Ricker has received honors including Real Estate Man of the Year, The Ellis Island Medal of Honor Award, and Man of the Year from the Monmouth County American Cancer Society. He also ranked as a finalist for Inc. Magazine's Entrepreneur of the Year. In addition, he has been honored by the Chicago Architecture Foundation for his exemplary citizenship and contributions to the City of Chicago. Mr. Ricker is also a recipient of the prestigious Building with Books Global Impact Award in recognition of his tremendous efforts to launch and support the buildOn (formerly Building with Books) Chicago chapter. Mr. Ricker serves on the New York University Advisory Council, is active on The Real Estate Board of New York's Brokers Committee, and is a member of the Counselors of Real Estate. |
