Longtime commercial real estate professional John W. Petersen has been named partner at North Palisade Partners LLC in Newport Beach, California.

A 30-year veteran of the real estate industry, Petersen brings deep experience in acquisition, development and management of commercial property nationally and specifically the state of California. He joins Joe Mishurda, founder of North Palisade Partners, as partner in the company and will be responsible for acquisitions, development oversight and expanding the firm’s presence in other western United States markets.

Prior to North Palisade Partners, Petersen served as interim president and CEO of PS Business Parks (NYSE: PSB) in Glendale, California, where he was responsible for the overall strategic direction of the company and its real estate operations encompassing 25 million square feet of industrial real estate. Petersen was the company’s chief operating officer for 15 years prior to assuming the interim president and CEO positions. While serving as COO, he oversaw the leasing and management of the company’s existing portfolio including acquisitions and dispositions as well as new development opportunities.

Before PS Business Parks, Petersen was a senior vice president for Equity Office Properties in Silicon Valley, where he was responsible for more than 12 million square feet of multi-tenant office, industrial, research and development space. Petersen was also a senior vice president for Spieker Properties in Menlo Park, California, where he grew the company’s Silicon Valley portfolio by three million square feet through acquisition and development.

“We are excited to have John come on board as partner in our firm,” Mishurda said. “John has exceptional depth and experience in navigating California’s highly competitive commercial real estate market as demonstrated by his years of success at some of the most prestigious real estate companies in the country. His expertise in strategic investment and management as well as his solid background in day-to-day operations will greatly enhance the value of our current portfolio and play a major role in the future growth of the company.”

Over the course of his career, Petersen has been actively involved in numerous industry leadership and nonprofit organizations. He served as president of the Silicon Valley chapter of the National Association of Industrial and Office Parks (NAIOP) and was president of the San Jose Silicon Valley Leadership Council. Petersen’s nonprofit involvement includes serving on a wide range of boards of directors for theatres, educational foundations, school districts, Boy Scouts and athletic organizations. A resident of La Canada/Flintridge, California, Petersen graduated from The Colorado College in Colorado Springs, Colorado, with a bachelor’s degree in history/political science.