LAS VEGAS and NEW YORK, July 20, 2012 /PRNewswire/ -- Newmark Grubb Knight Frank has further strengthened its leading position in the global gaming market with the addition of two of the top executives in the business: John J. Knott II and Michael R. Parks.
"As the gaming industry continues to evolve into a truly global business, we are attracting the very best and most committed professionals to join our team, those who understand the nuances of this industry and the needs of our clients," said Michael Lehrman, head of Global Real Estate at BGC Partners, Inc. (NASDAQ:BGCP). "John and Michael are both natural choices who will be instrumental in expanding our capabilities worldwide."
Knott and Parks were the founders of the Global Gaming Group, based in CBRE's Las Vegas office. Knott, an executive vice president, and Parks have completed more than $3 billion in gaming property and land sales. Notable sales include: Las Vegas Hilton, Sahara, Caesars Tahoe, Flamingo Laughlin, Trump Marina in Atlantic City, Fitzgeralds and, most recently, Boomtown in Reno. In addition, the team set the land price for the Singapore government for the country's two integrated resorts.
"Newmark Grubb Knight Frank, one of the fastest growing commercial real estate firms in the industry, is unique in its ability and commitment to serve all aspects of the industry including casino investment sales and finance," Mr. Lehrman said. "While the national and local economies are still in recovery, we are unwavering in our confidence in the fundamental strength and value of the gaming, hospitality, lodging and leisure sectors, and are committed to serving the marketplace with an incomparable team offering unrivaled expertise and resources."