Mr. McDevitt joined CBRE in July 2008 as the Transactions and Investments Admin Platform Lead on the Bank of America account. In this role, Mr. McDevitt is responsible for managing all acquisition, renewal and disposition services for the Bank’s U.S. Administrative Portfolio within CBRE geography. He has held senior real estate positions with such companies as Charles Schwab, BankBoston, American Express, Prudential Insurance and Shawmut National Bank.
Shortly after joining CBRE, Mr. McDevitt organized and led the CBRE team in the preparation in less than six weeks of Broker Opinions of Value with supporting comparables for Bank of America in the Bank’s acquisition of over 900 Merrill Lynch domestic and international locations.
He received national recognition in 2011 by CBRE for creativity in automating risk reduction in lease transactions. CBRE’s T&I team received the only perfect score in 2012 for their approach to linking portfolio planning with transactions. He was on the team responsible for five sale leasebacks for $600 MM in 2012 and 2013.
For the last three decades he has been directly responsible for corporate Real Estate assets and Shared Services for thousands of office, retail and industrial properties including environmentally impaired properties. He has had direct responsibility for individual corporate portfolios ranging up to 16 million square feet.
Just prior to joining CBRE Mr. McDevitt had been the Time Warner Cable account manager for The Staubach Company assimilating and divesting assets in a Sec. 1031 transaction with Comcast in the Adelphia bankruptcy. While there he introduced a number of process changes that are still in use and achieved a 20 percent reduction in average transaction cycle time while increasing options for large transactions.
- At American Express, he managed the site selection, design and construction, Capex and Opex budgeting for over 500 domestic and international retail branches and customer call centers.
- At Prudential, in 18 months selected, leased, designed and built four national service centers totaling 1.4 million retail square feet to consolidate 45 offices.
- At Charles Schwab, he coordinated the base building construction of a 600,000 square foot building through close-out including 9/11-related force majeure issue. He then subleased the entire building in the post 9/11 downturn using creative approaches that were nationally recognized.
- At Mobil Oil he advanced from retail RE representative to RE Manager for all states from Michigan to Florida (over 1800 locations).
- He has extensive M&A due diligence and consolidation experience with Shawmut, Schwab, Bank Boston and Bank of America.