Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced Adam Sklaver and Phil Kates joined the firm as senior vice presidents specializing in property auction services. Sklaver and Kates will be responsible for commercial real estate (CRE) auction sales and securing the best possible prices for sellers in an accelerated time frame. Sklaver and Kates most recently ran CBRE’s auction team.

“Online auction capabilities have emerged as an additional marketing channel for the right assets and situations. As we continually expand on our tradition of maximizing value for our clients, we are excited to add property auctions to our platform,” said J.D. Parker, executive vice president and chief operating officer of Marcus & Millichap’s Eastern Division and leader of the initiative.

Sklaver and Kates have 19 years of combined CRE auction experience and have assisted institutional and private clients in the sale of over 600 CRE properties spanning all asset classes via online auctions. Their 95% trade rate is among the highest in the CRE auction industry.

“Marcus & Millichap’s commitment to client results through expertise and specialization aligns perfectly with how Phil and I have built our careers. Our experience with commercial real estate auctions will seamlessly complement the firm’s deep network of talented brokers and substantial resources,” said Sklaver. “We’re thrilled to continue to deliver first-rate auction services to clients. By joining forces with the firm, we will collaborate with their extensive network to achieve the investment goals of clients throughout North America,” stated Kates.

“Our vision is to supplement Marcus & Millichap’s industry-leading property marketing system with the expertise of Adam and Phil as our in-house property auction experts, helping us offer more expansive services to our clients,” added Parker.