After more than a decade at Silverstein Properties, Jeff Grasso, the developer’s head of acquisitions, is starting his own firm in Salt Lake City. The company will be known as Vesta Realty Partners, according to the Commercial Observer.
- Grasso’s value proposition: “We’re going to be focused on growth markets across the West region, with a laser focus on the ‘Silicon Slopes’ in Utah… Salt Lake had the highest nominal office absorption — 290,000 square feet — of any office market in the third quarter of this year.”
- Heard on the Street: Silverstein CEO Marty Burger described Grasso as a “really great guy. He has done everything we asked of him; he went to Poland for us. We developed a thesis to forge into downtowns like New York, such as L.A. and Philadelphia, and Jeff really spearheaded that for us. Now, he wants to do that on his own.” [CO]