NEW YORK, Dec. 20, 2019 /PRNewswire/ -- Newmark
Group, Inc. (NASDAQ: NMRK) ("Newmark"), which operates a leading,
global full-service commercial real estate services business, is
pleased to announce the acquisition of retail specialist Harper
Dennis Hobbs Holdings Limited ("HDH"), a market-leading real estate
advisory firm based in London.
The acquisition of HDH adds a strong presence in London for Newmark, a market leader in
New York and Los Angeles. In 2019, Newmark ranked as the #1
brokerage firm in Manhattan by
retail deal volume, outpacing its closest competitor by nearly 40
percent*, leasing over 1.1 million square feet of retail
space**, and will now expand its capabilities to service
the robust activity of European tenants seeking access to the North
American consumer.
"With every acquisition we look to refine our key service
offerings and areas of expertise to meet the diverse and
fast-changing needs of our clients who increasingly seek to evolve
on a global stage," said Barry
Gosin, Newmark's CEO. "Acquiring Harper Dennis Hobbs is an
essential strategic investment for Newmark as we begin to scale our
domestic retail practice to offer a world-wide level of enterprise
resources."
Founded in 1993, HDH has experienced consistent organic growth
and has become a go-to advisor on tenant-focused real estate
advisory services for an extensive collection of blue-chip clients
including: Belstaff, Five Guys Burgers & Fries, J. Crew,
Louis Vuitton, Samsung, Sketchers,
Tiffany & Co. and West Elm.
"Our decision to align with another firm required cultural
similarity and business savvy for service. Newmark, as a growing
enterprise, exceeded our expectation with their impressive platform
of retail clients and resources," said HDH Chairman David Harper. "For more than a decade of client
solutioning and collaborative referrals, we have built
long-standing relationships with Newmark and its brokers," added
HDH CEO James Ebel. "Newmark's
investment in this dynamic industry provides our business with
access to a deeper and diverse network of retail expertise, across
borders."
Newmark Group and HDH currently share many client synergies with
companies such as Canada Goose, Carolina
Herrera, Dylan's Candy Bar,
Columbia, Michael Kors, Peloton,
PF Chang's, Swarovski and Watches of Switzerland. Working with many of the world's
most successful retailers across consumer and lifestyle brands,
from international brands to start-up companies, HDH has grown to a
headcount of more than 50 people, including 30 brokers and staff.
The acquired business will continue to operate as Harper Dennis Hobbs.
*Bockmann, R. (2019). Knighting a new retail ruler. The Real
Deal.
https://therealdeal.com/issues_articles/knighting-a-new-retail-ruler/
**Newmark Research
About Newmark Group, Inc.
Newmark Group, Inc. ("Newmark Group") is a publicly traded company
that, through subsidiaries, operates as a full-service commercial
real estate services business with a complete suite of services and
products for both owners and occupiers across the entire commercial
real estate industry. Under the Newmark Knight Frank name, the
investor/owner services and products of Newmark Group's
subsidiaries include capital markets (comprised of investment sales
and mortgage brokerage), agency leasing, property management,
valuation and advisory, diligence and underwriting. Newmark Group's
subsidiaries also offer government sponsored enterprise lending,
loan servicing, debt and structured finance, and loan sales.
Newmark Group's occupier services and products include tenant
representation, global corporate services, real estate management
technology systems, workplace and occupancy strategy, consulting,
project management, lease administration and facilities management.
Newmark Group enhances these services and products through
innovative real estate technology solutions and data analytics
designed to enable its clients to increase their efficiency and
profits by optimizing their real estate portfolio.
Newmark Group has relationships with many of the world's largest
commercial property owners, real estate developers and investors,
as well as Fortune 500 and Forbes Global 2000 companies. Newmark
Group's Class A common stock trades on the NASDAQ Global Select
Market under the ticker symbol "NMRK". Newmark is a
trademark/service mark and/or registered trademark/service mark of
Newmark Group and/or its affiliates. Knight Frank is a service mark
of Knight Frank (Nominees) Limited. Find out more about Newmark at
http://www.ngkf.com/, https://twitter.com/newmarkkf,
https://www.linkedin.com/company/newmark-knight-frank/, and/or
http://ir.ngkf.com/investors/investors-home/default.aspx.
About Harper Dennis
Hobbs
Harper Dennis
Hobbs has been providing independent, strategic retail
advice for over 26 years. Headquartered in London but offering a global service, its team
of real estate professionals offer an end to end solution for
retailers, providing quality, consistent, market-leading advice to
everything from the world's leading brands, to the smallest
start-ups.
The firm is one of the largest tenant-representation agencies in
Europe, offering services ranging
from retail agency and investment for leisure, travel, offices, and
out of town clients, to strategic retail consulting and advice on
business rates and leasing. Harper Dennis
Hobbs has fostered extremely close relationships with its
clients; each receiving a tailored, Director-level service from the
industry's most experienced retail and property professionals. For
more information, visit http://hdh.co.uk/.
Discussion of Forward-Looking Statements about
Newmark
Statements in this document regarding Newmark that are not
historical facts are "forward-looking statements" that involve
risks and uncertainties, which could cause actual results to differ
from those contained in the forward-looking statements. Except as
required by law, Newmark undertakes no obligation to update any
forward-looking statements. For a discussion of additional risks
and uncertainties, which could cause actual results to differ from
those contained in the forward-looking statements, see Newmark's
Securities and Exchange Commission filings, including, but not
limited to, the risk factors and Special Note on Forward-Looking
Information set forth in these filings and any updates to such risk
factors and Special Note on Forward-Looking Information contained
in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.
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SOURCE Newmark Group, Inc.