JLL has appointed a former Cushman & Wakefield executive and industry heavyweight to lead leasing across all property types in the greater New York metro area.
Joseph Caridi joined the firm as executive managing director for the tristate region and is overseeing the New York, Long Island, New Jersey and Connecticut/Westchester markets, JLL said Monday in a statement. Caridi will be based in the brokerage’s New York office and guide the firm “through a new phase of significant growth,” Chicago-based JLL said.
He’ll report to Michael Colacino, JLL’s president of tristate brokerage, the brokerage said. JLL this month promoted Colacino to CEO of its Americas leasing advisory business.
Caridi’s hire comes as New York has outpaced the United States in office leasing and other commercial real estate metrics. Office leasing in New York last year reached its highest volume since at least 2019 while the retail availability hit its lowest level on record, different brokerage studies show.
Caridi brings more than three decades of commercial real estate leadership experience, with most of his career focused on the tristate area, JLL said. Before joining JLL, he was with Cushman & Wakefield for 11-plus years, most recently serving as managing principal for South Florida for about 20 months, according to his LinkedIn profile. In that position, he led a team of more than 450 professionals across four major markets, JLL said.
Caridi told CoStar News in an email he was brought to Florida to lead a specific growth initiative at Cushman & Wakefield, which he said was “extremely successful.”
At JLL, he’s overseeing all types of leasing beyond just the office sector, he told CoStar, adding that JLL has continued to expand across all property sectors in the New York metro area, from office to industrial to retail.
“The market is experiencing increased demand for strategic advisory services as companies continue to view the tri-state area as a premier market,” he said. “We're seeing growing client needs for complex transactions, portfolio optimization, and market intelligence as top-tier firms, financial services, and technology organizations increasingly focus on the region. I joined JLL to help address this expanding client demand and capitalize on the market momentum.”
Caridi also previously served as Colliers’ chief operating officer for the tristate region. His career includes serving as an executive director at Newmark, where he managed the firm’s New Jersey brokerage operation before being promoted to oversee brokerage and advisory services for the entire tristate region. At Reckson Associates Realty, he completed over 900 transactions totaling more than 10 million square feet, JLL said.
“This is a strategic hire at a pivotal moment of opportunity in the New York City market,” said Peter Rigaurdi, chairman and president of the New York region for JLL. “Joe has deep experience supporting talent and managing growth, and this move further positions JLL to meet increasing client demand as we advance our position in the commercial real estate services landscape.”