Google (GOOGL)'s paul dollar He is applying his talents to an investment company. citadel He comes after nearly seven years as head of New York City's real estate division for the tech giant, Commercial Observer has learned.
Darrah will become Citadel's chief workplace officer at the end of this month, managing the company's global real estate footprint, including 19 offices around the world, a Citadel spokesperson confirmed.
“He has a great eye.” CBRE (CBRE)'s Darcy StacomAn investment sales broker who worked with Mr. Dollar on many of the transactions told CO. “I always found him to be very strategic when thinking about what he could physically do with the assets.”
Darragh will take over the role he previously held. scott hazardMr. Citadel left Citadel after two years and spent almost five years in a real estate role at Google from 2013 to 2018, he said. linkedin profile.
Before Darrah joined Google in 2010, the company spent $1.77 billion on acquisitions. 111 8th Avenue Located in the Meatpacking District. But in 2018, Mr. Dollar built on his accomplishments by helping to acquire Google. chelsea market 2.4 billion across the street.
genuine reported that Dollar played a key role in Google's decision to buy Chelsea Market. This increases Google's footprint in the area to approximately 4.1 million square feet.
Staycom, Someone who recently started their own companycollaborated with Dollar at Chelsea Market, and also 550 Washington Street $1.97 billion from Google's parent company. alphabet.
“He has a personality that unites the room, and even when things are tense, he can back off. He's a very funny guy,” Stacomb said. “He has a very broad knowledge base, but he also has the ability to dig deep into specific points.”
But Google's real estate ambitions with Darrah at its heart didn't end there. The search giant has set its sights on Hudson Square, where it has leased 1.3 million square feet. St. John's Terminal We plan to open another campus in 2019. Google wasn't satisfied with just leasing space. 550 Washington Streetand $2.1 billion fell on this property in 2021.
Prior to joining Google, Darrah was the head of real estate based in Connecticut. Bridgewater Associatesserved as Senior Vice President and Global Director of Real Estate at Lehman Brothers from 2006 to 2008. bloomberg LP From 1997 to 2006, he was a senior associate at the firm. Brennan Beer Gorman Architects From 1985 to 1994, according to his LinkedIn page.
Darla, Virginia Tech Alumni were featured Commercial Observer's 2022 Power 100 List.
While at Bloomberg, Dollar helped the company build a 750,000 square foot headquarters. 731 Lexington Avenuehis team believed Vornado Realty Trust Change plans for properties away from just housing and hotels, TRD report.
A Citadel spokeswoman declined to provide further details about Dollar's role. ken griffinhedge funds are developing a number of properties.
Since announcing it in 2022, While Citadel plans to move its headquarters from Chicago to Miami, Citadel is investing heavily in South Florida with a $363 million acquisition. 1201 Brickell Bay Drivea vacant property on the waterfront.
The sale was considered one of the largest real estate transactions in Miami history. The parcel could be the site of an office tower that would become Citadel's headquarters, but it's unclear where construction would take place after Citadel parted ways with the developer. sterling bay, in April 2023.
August 2022Citadel has signed a five-year lease for 90,000 square feet of temporary office space. 830 Brickell.
Then, in late 2022, Citadel signed a major deal, including a 585,000 square foot master lease in New York City. Vornado Realty Trust for 350 Park Avenue and another master lease Rudin390,000 square feet of adjacent 40 East 52 Street, CO reported at the time.
Eventually, 850,000 square feet could be leased. 39 East 51 Streetan office tower being developed by Vornado and Rudin.
A Google spokesperson did not respond to a request for comment.
Mark Hallum can be contacted at: mhallum@commercialobserver.com.
