Suburban developer Hobbs Brook Real Estate has named a new CEO to replace former chief executive Sam Schafer.

Schafer departed Hobbs Brook in November of last year to lead Trammell Crow’s Boston-area operations.

Peter Gottlieb, senior vice president at Philadelphia real estate investment firm Rubenstein Partners, will lead the company, it said in a press release Wednesday.

At Rubenstein, Gottlieb managed investment activity in the New England and Chicago markets. Prior to that role, he held posts at JLL, Goldman Sachs and DRA Advisors.

“HBRE has an outstanding reputation of delivering dynamic, state-of-the-art, sustainable buildings that are carefully programmed to suit tenants’ needs, and is in an ideal position for growth,” Gottlieb said in a statement. “The company has an impressive track record of success within its 5 million-square-foot portfolio, and I am thrilled for the opportunity to lead its advancement.”

Under Schafer, Hobbs Brook dove into the Route 128 spec lab market by commissioning the 507,000 225 Wyman St. office-lab development. Cambridge-based software company Pegasystems took 131,000 square feet in July 2021, while two R&D tenants leased a combined 297,032 square feet in February of this year.

In December, the company filed proposals for 446,000 new square feet of new lab space on the site of a Lexington office park.