|Longtime Washington real estate executive and broker Petch Gibbons has joined Summit Commercial Real Estate as president. |
Summit Commercial Real Estate
, an emerging major player in the region's commercial real estate market, has brought in longtime Washington real estate executive and broker Petch Gibbons as president to help build the locally based company.
Gibbons will serve a key leadership role, having management and recruiting responsibilities, as well as keeping his hand in the brokerage business.
"Petch is the right person to lead Summit, and this is the right time for us to be more strategic about how we grow our firm," said Paul DeFilippes, who co-founded the brokerage firm with John Duffy in 2004. Gibbons joins DeFilippes, Duffy and Guy d'Amecourt on the company's management team.
"Two types of commercial companies will survive and flourish - the mega-large, multi-service, national company, and the more nimble, focused, locally-based firms," said Gibbons. "We plan to be that top, premier DC-based company, with national services and reach through the best affiliations."
With more than 30 years of experience, primarily serving Washington-based firms, Gibbons most recently was an executive director with Cushman & Wakefield. His former roles include serving as president of The J Street Companies in Washington following his tenure as president and CEO of GVA Advantis and its predecessor, Advantis Real Estate Services.
His background also includes executive leadership positions as president of Barnes Morris Pardoe & Foster, one of several regional commercial real estate firms that once dominated the market in DC in the 1990s. Barnes, Morris was acquired by Insignia/ESG in 1997, and Insignia was eventually acquired by CB Richard Ellis (now called CBRE.)
The leaders of Summit
say they have no plans to become part of global corporate real estate firm any time soon.
"We're not trying to become the biggest company, just the best," said Duffy, "We're completely focused on local Washington based companies and organizations."
Added DeFilippes, "We are confident our business model will be the way of the future for commercial real estate firms."