CALABASAS, Calif. — William A. Millichap, co-chairman of the commercial real estate firm Marcus & Millichap, has died after a year-long battle with cancer. He was 76.
Marcus & Millichap, established in 1971, is a leading specialist in commercial real estate investment sales, financing, research and advisory services with more than 2,000 investment sales and financing professionals across the United States and Canada. In 2019 the firm closed 9,726 transactions totaling approximately $50 billion in value.
George M. Marcus, founder and chairman of Marcus & Millichap, issued the following statement:
“The company’s formative years benefited greatly from Bill’s drive for innovation, including our training programs, the professionalization of the industry, and adoption of new technology—key building blocks of the firm’s market leadership. As one example, Bill’s commitment to advancing the firm led to the industry’s first centralized electronic inventory system as early as 1978. He led numerous enhancements to the company’s brokerage tools and client services, contributing to exceptional growth. Bill was the truest of friends and a dedicated partner in both good times and challenging ones. He was a unique and exceptional leader, coach and innovator. Everyone who knew him would point to his intelligence, boundless energy, enthusiasm, discipline, loyalty and competitiveness as the qualities that made him a driving force.”
William A. Millichap
Millichap joined the firm—then known as G.M. Marcus Company—as an investment broker shortly after its founding in 1971. His career advanced quickly: he became regional manager of the Palo Alto office in the mid-1970s, served as president and director from 1985 to 2000, and remained co-chairman of the board until his death. He also served as managing partner of Marcus & Millichap Venture Partners (MMVP), a separate entity that invested in real estate–related technology companies.
Over his career, Millichap served on several corporate and industry boards. He was a director of Essex Property Trust from 1994 to 2009 and of LoopNet, Inc. from 1999 to 2008. He helped found San Jose National Bank and the Mid-Peninsula Bank of Commerce and served on their boards. He also served on the board of the National Multi Housing Council and was active as a member of the International Council of Shopping Centers, the Urban Land Institute, and the National Venture Capital Association. Millichap held a B.S. in Economics from the University of Maryland and served as an officer in the United States Navy.
Hessam Nadji, president and CEO of Marcus & Millichap, commented: “Bill’s passion and commitment to supporting our sales force and creating value for our clients were contagious and remain essential parts of our culture today. His ability to connect personally and add value fueled relationships across the organization and the industry. His positive influence will live on through all of us who were touched by him.”
Millichap is survived by his wife, Sherrie; his children Laura, Greg, Jeff and Stacy; and eight grandchildren.
June 24, 2020 Realty News Report. Copyright 2020.
