JLL on Monday announced the appointment of Joseph Caridi as executive managing director for the Tri-State region, a strategic move aimed at capturing momentum in a recovering commercial real estate market.
Based in New York, Caridi will oversee brokerage strategy across New Jersey, New York City, Long Island and Connecticut. He reports to Michael Colacino, president of Tri-State Brokerage, marking a high-profile “return home” for a leader with deep roots in the Garden State’s corporate corridors.
Caridi’s appointment is particularly significant for the New Jersey market. Earlier in his 30-year career, he managed Newmark Knight Frank’s New Jersey brokerage operations, and during his tenure at Reckson Associates, he closed over 900 transactions totaling more than 10 million square feet—much of it concentrated in the region’s premier office parks.
“Joseph’s understanding of this region is exactly what our clients need to navigate both growth and change,” Colacino said. “His ability to build world-class teams will ensure we continue to deliver exceptional outcomes in the most dynamic real estate market in the world.”
The hiring comes as the New Jersey commercial sector enters a “market maturity” phase in 2026. While Manhattan faces a shortage of Class A trophy space, industry analysts expect Caridi to leverage JLL’s platform to steer tenants toward high-quality New Jersey submarkets that offer “urban-suburban” amenities.
Caridi joins JLL from Cushman & Wakefield, where he led a massive team in South Florida. His return to the Northeast signals JLL’s aggressive stance on regional growth, particularly in sectors currently driving NJ’s economy:
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Life Sciences & Bio-Tech: With the “Helix” innovation district in New Brunswick nearing key milestones, JLL is positioned to manage the surge of firms migrating to Middlesex County.
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Luxury Multifamily: JLL Capital Markets recently secured $384 million for the Harborside 8 waterfront project in Jersey City, a testament to the firm’s ongoing commitment to NJ’s skyline.
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Industrial & Logistics: As vacancy rates peak and rent growth stabilizes, Caridi’s team will focus on “elastic portfolios” for global occupiers.
“This is a strategic hire at a pivotal moment of opportunity in the New York City market,” Peter Rigaurdi, chairman and president of the New York region for JLL said. “Joe has deep experience supporting talent and managing growth, and this move further positions JLL to meet increasing client demand as we advance our position in the commercial real estate services landscape.”
“The market is rewarding decisive, well-advised strategies,” Caridi said. “I look forward to delivering innovative solutions and exceptional value to our clients across the Tri-State.”
Caridi, who holds a Juris Doctor from CUNY School of Law, is a licensed broker in New York, Connecticut and Florida. His leadership is expected to unify JLL’s regional culture and accelerate recruitment of top-tier talent as the firm doubles down on its New Jersey footprint.
