Joe Dracobly, MAI, joined Newmark’s Valuation & Advisory as a senior vice president in 2018. Mr. Dracobly brings to his position two decades worth of experience performing appraisal and consulting assignments for a variety of property types throughout the state of Washington, including office, residential, industrial, retail, land and special use.
As a consultant, Mr. Dracobly has performed market feasibility, highest and best use studies. He has also acted at the asset management level for a family trust, handling the disposition of two industrial properties, the purchase of a partnership and the acquisition of three Seattle apartment complexes.
Mr. Dracobly has also handled a variety of appraisal review assignments for financial institutions as well as for litigation support. In recent years, emphasis has been on the valuation of both proposed, under construction and existing multi-family product.
Prior to Newmark, Mr. Dracobly worked for seven years in Cushman & Wakefield’s Seattle office, where he specialized in market-rate apartments for both proposed and existing projects.
Mr. Dracobly has been performing appraisal and consulting assignments since 2001. In 2007 and 2008, he took a break from performing formal valuation services to work at Pier Management LLC, a developer and acquisition company, where he focused on market research, due diligence, investment and underwriting.
Prior to his appraisal career, Mr. Dracobly spent four years in commercial real estate brokerage selling investment properties of all types, including apartments, land, office and retail.
Mr. Dracobly started his real estate career at Shurgard Storage Centers (now part of Public Storage), where he worked in property management before moving to the real estate division, where he oversaw two storage developments, various expansions and due diligence for multiple property acquisitions. He also handled financial modeling for Shurgard’s European expansion as well as various portfolios for institutional partners.
- MAI designation, Appraisal Institute
- Certified general real estate appraiser, state of Washington
Mr. Dracobly earned a Bachelor of Arts degree in psychology with a minor in writing from the University of Redlands.