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Boston Properties, Inc. (NYSE: BXP), a real estate investment trust, announced that John F. Powers will succeed Robert E. Selsam as Senior Vice President and Regional Manager of its New York office effective January 2, 2014. Mr. Selsam has decided to retire from the Company in January 2014 after more than 29 years of service.
Mortimer B. Zuckerman, Executive Chairman, commented, “On behalf of the entire Boston Properties family, I want to thank Robert Selsam for his contributions to our Company, our industry and our City. Robert not only deftly managed the growth of our regional activities, but he helped transform the City's skyline with innovative developments. He will be greatly missed by all of us." Mr. Zuckerman went on to say, “John and I have worked together for several decades, and I am thrilled that he is joining our team.”
Mr. Powers is an industry veteran with more than 25 years of commercial real estate experience. He currently is Chairman of the New York Tri-State region for CBRE, Inc. where he contributes to the strategic direction of CBRE’s Tri-State operations, while continuing to work directly with clients. After joining ESG, which was later acquired by CBRE, he built the firm’s consulting division into the strong and integral part of the firm. Over his career he has developed many occupancy strategies for large corporate users, advised clients on numerous ground up developments, and brokered millions of square feet of transactions.
"We are delighted to attract such an experienced and energetic leader as John to head our New York Office," said Owen D. Thomas, Chief Executive Officer. “In addition to being one of Boston Properties' most trusted advisors in the New York market, John has significant management experience, a wealth of local relationships and a well-deserved reputation as a creative deal maker.”
Boston Properties is a fully integrated, self-administered and self-managed real estate investment trust that develops, redevelops, acquires, manages, operates and owns a diverse portfolio of Class A office space, one hotel, three residential properties and four retail properties. Boston Properties is one of the largest owners and developers of Class A office properties in the United States, concentrated in five markets – Boston, New York, Princeton, San Francisco and Washington, DC.