An affair of the heart for Newmark's new man in Jersey: David Simson, chairman, Newmark Kngiht Frank New Jersey.

To ride out this real estate downturn, you must truly love what you do. That's why 30-year veteran David Simson, vice chairman of Newmark Knight Frank's New Jersey operation, is approaching the industry with more vigor and enthusiasm than ever.

"I'm very committed and passionate about my work," said Simson, who joined Newmark Knight Frank in February, after spending nearly a decade with GVA Williams of New Jersey. "And I'm very dedicated to the company."

Coming from a family of real estate professionals, that passion was contagious. A Long Island native, Simson's mother--now retired--was a residential broker; his brother is a commercial broker in New York, his uncle worked on the development side and his cousin, too, delved into real estate.

"There's never a lack of conversation between our families on both a personal level and a business level. There's definitely a common link that makes it a lot of fun," Simson said.

He left Long Island to study business and administration, earning a Bachelor of Science from the University of Maryland in 1980. But before finishing, he was already making the necessary moves to position himself for a career in commercial real estate.

"Going through college, I thought [real estate] was a natural transition. In my junior year of college, I got my brokers license," Simson said. "I kind of felt I was going to be in this industry, mostly because of the people around me."

After college he went to work for a boutique firm in New Jersey. Simson stayed there for three years and, at just age 24, realized he wanted to test the market waters by launching his own firm. Partnering with his cousin (yet another family member in the real estate business), the pair successfully operated their own brokerage for a decade.

"It was an enormous amount of fun for us. We were always entrepreneurial in spirit," said Simson, who believes he was able to sustain a successful commercial brokerage at such a young age because of his hands-on approach to the business. From 1992 to 2001, Simson then served as a vice president at C.B. Richard Ellis, before co-founding GVA Williams of New Jersey. He stayed with GVA through 2009 and joined Newmark Knight Frank in February. Simson found the opportunity at NKF to be entrepreneurial, yet with the support of an institutional infrastructure. While the bulk of Simson's business is concentrated on office and retail, he's also executed industrial deals for clients. No deal was more rewarding than the one that earned him NJ NAIOP's Creative Deal of the Year Award last year.

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The deal called for a 173,000 s/f build-to-suit redevelopment for The Medicines Company's new headquarters in Parsippany, N.J. The transaction, which Simson said involved "several moving pieces," included a land lease and an existing building that underwent major renovations. The entire project took two years to complete.

And another noteworthy deal created enormous value for his client, Reckitt Benckiser. After working with the firm on building an 812,000 s/f logistics center in Harrisburg, Pa., Simson helped the company monetize the property by placing it on the market. The property attracted more than 50 inquiries and ultimately resulted in a wildly successful sale-leaseback deal.

Throughout his career, Simson has represented some of New Jersey's biggest owners including JP Morgan and Rexcorp; he's also completed deals on the tenant side for Prudential, The New York Times and Port Authority, among others. But closing deals in today's climate requires the most "nimble" and knowledgeable of broker, he said.

"Transactions are taking much longer than they have in the past," Simson said. "The creditworthiness of the client comes in to the forefront much faster than it has in the past."

That being said, broker services remain in top demand, as clients look for assistance in stabilizing rent rolls and lenders look to them for marking-to-market. In New Jersey--where concessions are on the rise--healthcare, education and technology tenants are taking advantage of the soft market. But overall he's expecting the slow market to continue through 2009 and well into 2010, as New Jersey has yet to see the full impact of shadow space and corporate downsizing.

Simson said to trudge along in market like this, a broker needs to love the business.

Simson, who resides in New Jersey with his wife and their four-year-old daughter, enjoys skiing, golfing, traveling and spending time with his family.