Lee Warfield is promoted to CEO of Cushman & Wakefield | Thalhimer
Lee Warfield, president of Cushman & Wakefield | Thalhimer, one of Richmond's oldest and most venerable commercial real estate firms, will become the company's CEO in January, succeeding Paul F. Silver, who has led Thalhimer as CEO for 19 years. Silver will continue in his role as chairman, the firm announced Thursday.
Silver said in an interview that the succession plan has been three years in the making “It was well planned, well thought out, and we did a good job of executing it. Lee Warfield happens to be a very good leader. I've worked with him for more than 20 years as a partner. This is not sudden at all.”
Silver plans to remain active. “I'm not retiring,” he says. In addition to working with clients, “My focus will be on the long-term planning for the company, the strategy and working with the board of directors to make sure that we're relevant and sustainable.”
Silver, who joined Thalhimer 32 years ago in October 1984, has served as board chairman for three years. He was promoted to president and CEO in 1996.
Warfield, president since 2011, will continue in that role while also taking over as CEO.
Under Silver's tenure, Thalhimer entered new markets, expanded the brokerage and construction operations and established Thalhimer Realty Partners. Today, it has more than 100 broker professionals and 400 associates. The property management portfolio has more than 20 million square feet of commercial space and 6,100 apartment units in Virginia, North Carolina and South Carolina.
Silver has been active in numerous professional groups. He’s a past president of the Richmond Association of Realtors, the Virginia Commonwealth University (VCU) Real Estate Circle of Excellence, VCU Real Estate Foundation, and Virginia Museum Real Estate Foundation.
“When you talk about Thalhimer’s accomplishments in the real estate business over the last 100 years, you have to be talking about the talented associates who are committed to evolving our services and platform to match an ever-changing marketplace. There is no doubt that Lee’s experience and talent as chief executive officer will be beneficial in continuing that same Thalhimer tradition,” Silver said.
Warfield joined Thalhimer in July 1995, specializing in site selection services for regional and national retailers, as well as land assemblage and pre-development leasing. He has represented many national retailers including Home Depot, Walmart, Sam’s Club, and Regal Entertainment.
Warfield has served as President of the VCU Real Estate Circle of Excellence, State Director of the Virginia International Council of Shopping Centers (ICSC), and is a member of Richmond Real Estate Group.
“It’s an honor to succeed Paul Silver as Thalhimer’s CEO. Under Paul’s guidance, we’ve built a tremendously successful firm. He has always thought big and has been relentlessly driven to push Thalhimer to new heights. I’m excited for the opportunity to lead Thalhimer.”
Warfield is Thalhimer’s fourth CEO since the firm’s founding in 1913.