PROFILE OF THE WEEK: PETER RICKER, NORMAN JACOBSON MB REAL ESTATE.

Name changed, but not focus

MB Real Estate (formerly Douglas Elliman-Beitler, LLC) recently changed its name.... but not its focus.

The company, headed by respected real estate veteran Peter Ricker, is as determined as ever to continue its rapid growth as one of New York's prominent full service commercial real estate firms, specializing in brokerage, management, investment and development.

An indication that this lofty goal is not to be taken lightly was evidenced recently when Richard A. Eisner & Company LLC leased 85,000 SF of space at 750 Third Ave. The prominent CPA firm's consultant on this major leasing transaction was Norman Jacobson, vice chairman of MB Real Estate, yet another veteran of the New York real estate marketplace and, who together with Ricker, form one of the city's most accomplished executive teams.

This dynamic duo is presently negotiating many high profile deals including the development of 11 Times Square, a building that will bring another 1 million square feet of prime office space to the resurgent Times Square district.

As Norman Jacobson explains it, "I've been in this business for 33 years and have never seen a more interesting market as the one we're in right now. In 1982, it was unheard of to pre-lease spec. office building space, but now it's common practice."

When it comes to making deals, Jacobson has a unique philosophy. "Make every deal that you possibly can, knowing that some deals are better than others," he advises. "Since rents have stabilized at attractive rates for landlords; if they have the opportunity to make a deal they should take it. The same goes for tenants; space is still limited and deals have to be made decisively. If a space user has an opportunity to lease desirable space, it should move quickly."

This philosophy comes from years of experience. "Peter and I have been in this business forever it seems," added Jacobson. MB Real Estate represents major owners in Manhattan and throughout the country and boasts an international roster of tenants. "Our vast experience in real estate enables us to effectively represent both tenants and landlords. We can get involved in promotional leasing deals, landlord agency representation and development," said, Jacobson.

Both Ricker and Jacobson bring extensive knowledge of the industry to MB Real Estate. Prior to joining MB Real Estate, Ricker headed The Galbreath Company, a national real estate firm, increasing its management and leasing portfolio by 500 percent in the New York, New Jersey, Connecticut and Pennsylvania markets.

Some of Ricker's notable achievements include Centre Square in Philadelphia, a $50 million property modernization, and Swiss Bank Tower in New York. He was responsible for the leasing and management programs achieving the highest rental levels in New York City in the late 1980s.

Jacobson has also had a storied career. Prior to joining MB Real Estate, he was the executive vice president of Swig, Weiler and Arnow, one of the largest holders of commercial real estate in the United States. In addition, Jacobson was president of Elfort Realty, the leasing and management arm of Swig, Weiler and Amow. During his tenure, their holdings grew to over 5 million SF of Class A commercial office buildings.

Throughout his career, Jacobson has successfully negotiated and closed numerous major leasing transactions including a 450,000 SF deal for the World Bank and a 400,000 SF deal for W.R. Grace. Jacobson was also awarded "The Most Ingenious Deal of the Year Award" in 1998 for his involvement in consolidating the Men's Wear Industry within 1350 Avenue of the Americas.