Frank Petz has sold a lot of land in this town. Now he’ll be doing it for someone new.
Real estate firm Colliers International said Tuesday it has hired the veteran broker to lead its investment sales division. He’ll assist companies in buying and selling large properties and connecting investors with developers who need financing.
Petz, who helped broker Procter & Gamble’s recent sale of 6.5 acres alongside its Gillette campus in Fort Point, and DivcoWest’s $291 million deal to buy the NorthPoint campus in East Cambridge, held a similar post as head of capital markets at JLL since 2012. Earlier this year, he said he was departing JLL after the industry heavyweight bought another rival brokerage, HFF.
Petz said Colliers is looking to grow and said even this deep into a cycle that has brought about explosive growth in real estate values, Boston remains one of the most desirable places in the world for big investors looking for projects to buy.
“Boston is as well-positioned as any city not only in the country, but in the world,” Petz said. “Capital is coming from everywhere, and it wants to be in Boston.”
Petz, who specializes in life sciences properties, said there is growing demand to invest in lab space in neighborhoods beyond red-hot Kendall Square, and for industrial properties as Amazon and other e-commerce companies build ever-more-sophisticated delivery networks.
“Industrial space is trading at near-record prices right now,” he said. “A lot of it is driven by e-commerce and distribution.”
The move also highlights the musical chairs nature of Boston’s commercial real estate scene, where savvy brokers hop from one firm to another, swapping out business cards and moving within a few blocks around Post Office Square but doing, essentially, the same job for many of the same clients.
Colliers has been beefing up its capital markets team following the JLL-HFF merger and several other big moves in the brokerage industry here. David Goodhue, executive managing director of the firm’s Boston office, said it plans to continue growing.
“We see a ton of opportunity to continue to improve,” he said. “We see really talented brokers open to making a switch.”