Marcus & Millichap announced that co-chairman William A. Millichap has passed away after a year-long battle with cancer. He was 76 years old.
“The company’s formative years benefited greatly from Bill’s push for innovation, including our training programs, professionalization of the industry, and adaption of technology; key building blocks of the firm’s market leadership,” said Marcus & Millichap founder and chairman George M. Marcus.
“As an example, Bill’s commitment to advance the firm resulted in the industry’s first centralized, electronic inventory system as early as 1978,” Marcus continued. “He led countless evolutions of the company’s brokerage tools and client services, which helped achieve exceptional growth.
“Bill was the truest of friends that one could ever have, and a real partner in good times and challenging ones. He was a unique and exceptional leader, coach and innovator. All who knew him would point to his intelligence, endless energy, enthusiasm, discipline, loyalty and competitiveness as main ingredients that made him the life force that he was.”
Millichap joined the company, then called G.M. Marcus Company, as an investment broker shortly after its founding in 1971. His career progressed rapidly. After becoming regional manager of the Palo Alto office in the mid-1970s, he went on to serve as president and a director of the company from 1985 to 2000 and was co-chairman of the board until his passing.
In addition, Millichap was the managing partner of Marcus & Millichap Venture Partners, a separate entity that invested in real estate-related technology firms. Millichap served on the board of directors of Essex Property Trust from 1994 to 2009 and LoopNet, Inc. from 1999 to 2008. He was one of the founders of San Jose National Bank and The Mid-Peninsula Bank of Commerce, where he served on the board of directors.
He also served on the board of directors of the National Multifamily Housing Council and was a member of the International Council of Shopping Centers, the Urban Land Institute and the National Venture Capital Association. Millichap received a B.S. in Economics from the University of Maryland and served as an officer in the United States Navy.
“Bill’s passion and commitment to providing the best support to our sales force and creating value for our clients were contagious and remain essential parts of our culture to this day,” said Hessam Nadji, president and CEO, Marcus & Millichap. “His ability to connect, relate and add value at a personal level fueled his countless relationships throughout the entire 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; children Laura, Greg, Jeff and Stacy; and eight grandchildren.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).