Newmark Grubb Knight Frank's Investment in Southern California Draws Talent, Generates New Business
Bgc Partners - Class A (MM) (NASDAQ:BGCP)
Newmark Grubb Knight Frank, a leading full-service global commercial real estate advisory firm with a rich history in Southern California, today announced that industry veteran Eric P. Hasserjian has joined its Los Angeles office as a senior managing director. Drawing on more than 23 years of experience and strong industry relationships, Hasserjian, who has completed over 1,500 lease transactions and been involved with over $7 billion worth of investment sales transactions, will lead Newmark Grubb Knight Frank's landlord representation business in Southern California as the firm expands its presence in the region.
"We are delighted to welcome Eric, an exceptional professional who complements our talented team in Los Angeles and who joins at a pivotal time as we seek to capitalize on regional growth opportunities. With strong roots in Southern California and seven offices throughout the region, Newmark Grubb Knight Frank is deeply committed to its clients here and is investing in additional resources," said Chuck Hunt, executive vice president, regional manager.
Hunt continued, "Since forming Newmark Grubb Knight Frank and launching one of the industry's most powerful, full-service commercial real estate platforms, we are better equipped than ever to provide beginning-to-end real estate solutions spanning leasing, property management, investment sales, property valuation, and global debt and equity capital markets expertise. Together with Eric and other leading professionals in this region, we are passionate about bringing our significantly enhanced global capabilities to our clients, many of whom we've advised for decades."
Newmark Grubb Knight Frank's Southern California team has grown significantly from Grubb & Ellis' entry in the market in the 1960s, uniquely offering clients a full range of services and the benefits of the debt and equity capital markets expertise of parent company BGC Partners, Inc., as well as resources from its affiliate relationship with Cantor Fitzgerald, which first began operating in Southern California in the 1950s.
"The region's large population base, diverse business landscape and proximity to one of the world's busiest ports make it an attractive market for local, national and international property investors and corporate occupiers. These factors continue to stimulate robust office, industrial and retail activity, driving demand for real estate, and the need for expert professionals who can help clients maximize value," Hunt said.
Hasserjian comes to Newmark Grubb Knight Frank from Arden Realty, Inc., a wholly owned subsidiary of GE Capital, Inc., where he spent 13 years as a senior vice president spearheading the leasing performance of a 9.5-million-square-foot nationwide office portfolio. Well versed in leasing, property operations, acquisitions and dispositions, value-add repositioning and development, he attracted quality tenants such as Disney, Microsoft, AT&T and Sony to Class A office space from Los Angeles to Seattle. Hasserjian's efforts resulted in the portfolio achieving and maintaining an occupancy rate of over 90 percent over the past five years.
"Newmark Grubb Knight Frank's platform, which includes an impressive national leasing and management portfolio that is poised for growth, represents the perfect opportunity for me. By taking a landlord's approach to leasing office buildings, I'm excited to collaborate with the stellar management team to develop and execute a comprehensive regional growth plan," Hasserjian said. "In addition, I'm impressed by the speed and efficiency with which the company is bringing together hundreds of professionals and combining offices throughout the region. The collaboration I've witnessed is a testament to a committed leadership team and its employees, all of whom are focused on providing outstanding service. I am delighted to join this ambitious, vibrant team and participate in the growth of this company."
In addition to Hunt, the region's management team includes James McFadden and Greg May in Newport Beach, Don Hudson in downtown Los Angeles, Steve Kolsky and Mike Arnold in West Los Angeles, David Burback in Ontario and Steve Wolf in San Diego. These market leaders are marshaling regional resources and drawing from BGC Partners' complementary global businesses and deep relationships to close significant transactions and expand their client roster. Recently, Newmark Grubb Knight Frank represented national law firm Lewis Brisbois Bisgaard & Smith LLP in one of downtown L.A.'s largest office deals this year, a 10-year, 160,000-square-foot lease with an estimated total consideration of $45 million. And in the past 30 days alone, the capital markets team has been awarded nearly $150 million in institutional sales listings in the Southern California marketplace for national clients.
Hunt believes the success in securing new assignments is a combination of highly skilled local real estate professionals who are backed by the company's national platform with more than 100 offices and 250 million square feet of property under management in North America, with the proprietary technology, global capital markets expertise and the financial strength of BGC Partners.
"Los Angeles is one of the largest office markets in the U.S., and we are confident Eric will be able to leverage his experience and the company's strong institutional relationships emanating from New York to help us grow rapidly. The firm's collaborative approach, utilizing and benefiting from its unparalleled expertise across the nation, has created a full-service commercial real estate services provider that is highly regarded on a regional, national and international level. This is truly a winning formula for us and for our clients," Hunt said.
Newmark Grubb Knight Frank and its leadership team were the featured cover stories in the July issues of Commercial Property Executive and National Real Estate Investor magazines.
About Newmark Grubb Knight Frank
A part of BGC Partners, Inc. (NASDAQ:BGCP), Newmark Grubb Knight Frank is one of the largest commercial real estate service firms in the U.S. It brings together the strategic consultative approach to creating value for clients and leading position in the New York market that are hallmarks of Newmark Knight Frank; the complementary strengths of Grubb & Ellis in leasing and management, investment sales, valuation and capital markets services; and BGC's financial strength, proprietary technology, expertise in global capital markets and deep relationships with many of the world's leading financial institutions.
Newmark Grubb Knight Frank, together with its affiliates and London-based partner Knight Frank, employs more than 11,000 professionals, operating from more than 300 offices in established and emerging property markets on five continents. This major force in real estate is meeting the local and global needs of tenants, owners, investors and developers worldwide.
Press Contact: Mira Matic Performance Public Relations LLC mira@miramaticpr.com 1-973-461-9005
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