Kelly Fried

Kelly Fried, MAI, is a First Vice President with CBRE’s Valuation & Advisory Services servicing the Midwest Division. In this role, Ms. Fried specializes in managing and supporting CBRE clients with business development; providing outstanding service to clients; third party appraisal review services; preparing and reviewing appraisal reports; and providing expert witness testimony. Kelly has a specialized focus on retail properties ranging from single-tenant and big box retail to community shopping centers and complex regional mixed-use lifestyle centers. With over 24 years of experience, Kelly has worked with clients on a variety of property types including retail, office, industrial, complex mixed-use developments, urban redevelopment projects, multifamily, medical facilities, land and special-use assets.

Additionally, Kelly has significant experience in litigation assignments, including the preparation of appraisals and providing expert witness testimony. She has testified as an expert witness in a number of ad valorem tax appeal cases before the Ohio Board of Tax Appeals, many of Ohio’s 88 counties, the Kentucky Board of Tax Appeals and the Indiana Board of Tax Review.

Kelly joined CBRE in 2025 after having served as a Senior Vice President with Newmark in 2018 servicing Indiana, Kentucky and Ohio where her primary focus was litigation assignments and retail property types. Prior to Newmark, Kelly served as a senior vice president for the Gem Real Estate Advisory Group. She rejoined Gem in 2010 after serving with the company from 2001 to 2004. During her time with Gem, Kelly provided valuation and consulting services to a broad range of clients and served as an expert witness in litigation, condemnation and tax appeal cases. From 2004 to 2007, Kelly assisted in the project management and redevelopment of the $45 million Fountain Square, a public square in Downtown Cincinnati, for Cincinnati Center City Development Corp. (3CDC). Additionally, she provided underwriting, analyses and recommendations to The Cincinnati Equity Fund and the Cincinnati New Markets Fund for downtown and Over-the-Rhine investments. From 2007 to 2009, Kelly performed financial feasibility analysis and due diligence land developments for a $70 million private equity fund of Phillips Edison & Company.

Education

• University of Cincinnati – Cincinnati, Ohio Master of Business Administration, Finance
• Bachelor of Business Administration, Marketing and Real Estate

Professional Affiliations / Accreditations

• Appraisal Institute
  
  • Member #435185
  • Region V Representative, Current
  • Region V Chapter Services Director, 2023-2024
• State Certified General Appraiser
  
  • Ohio – #2004006077
  • Kentucky– #5102
  • Indiana – #CG41600019
• Ohio Chapter of the Appraisal Institute, Current
  
  • Education Chair, Current
  • University Relations Chair, Current
  • President, 2022
• Kentucky Symphony Orchestra Board of Directors, Current
• Deerfield Township (Warren County) Board of Zoning Appeals, Current
• CREW Greater Cincinnati
  
  • Past Presidents Advisory Committee, Current
  • President, 2004

Clients Represented