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Newmark Grubb Knight Frank Forms Affiliation With Grubb & Ellis|Memphis

Stocks in this article: BGCP

MEMPHIS, Tenn., March 11, 2013 /PRNewswire/ -- Newmark Grubb Knight Frank (NGKF), one of the world's leading commercial real estate advisory firms, announced it has formed an affiliation with Grubb & Ellis|Memphis, a full-service commercial real estate firm serving western Tennessee, northern Mississippi and eastern Arkansas. Effective immediately, the regional firm will operate as Newmark Grubb Memphis.

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Through the affiliation, Newmark Grubb Memphis' local professionals and their clients will have access to NGKF's global resources and relationships, and to unparalleled capital markets expertise and capabilities through NGKF's parent company BGC Partners, Inc., and BGC's relationships with Cantor Fitzgerald and Cantor Commercial Real Estate.

"When a commercial real estate company is already offering the highest levels of customer service in its region, the next step is to provide clients with that same quality of service across all levels of their operation and geographies," says Joe Steffner, Newmark Grubb Memphis' founder and president. "We are excited to be able to continue this delivery of top-notch service."

"As a firm, this affiliation with NGKF offers us international reach and size with an egalitarian mentality that's nimble and effective in today's evolving world of larger real estate companies and brands. This also brings us into the most exciting capital markets and investment sales platform in the industry."

Newmark Grubb Memphis has completed more than $500 million in deals since its inception in 2004, and has grown from a single-broker shop to a team with more than 150 years of combined commercial real estate experience. Today the firm provides tenant advisory, ownership representation, investment sales, corporate advisory, property and facilities management, market research and lease administration services.

NGKF reinforces its regional presence through the affiliation with a local-market leader. Newmark Grubb Memphis has closed many of the region's largest deals in recent years, including the following highlights from 2012:

  • Represented Milwaukee Tool in leasing a 600,000-square-foot, build-to-suit warehouse in Olive Branch, Miss.
  • Represented Baptist Hospitals in acquiring a 12-acre site to develop a regional cancer center in Memphis.
  • Represented the Federal Deposit Insurance Corp. in leasing a 33,000-square-foot office space.
  • Negotiated the sale of 49 acres to the Regional Medical Center at Memphis for development of a new medical center.
  • Represented Nissan Corp. in the sale of a 400,000-square-foot warehouse in Olive Branch.

The affiliation echoes an earlier relationship between the Memphis firm and the former Grubb & Ellis, but involves a larger and more advanced global platform, stated Brett Hunsaker, NGKF executive vice president and regional managing director.

"This is a natural extension of our already collaborative, symbiotic relationship," Hunsaker stated. "I've worked with Joe and his team for years. Under his leadership, they have enhanced our Southeast coverage and, with their dominant local reach, have introduced to us new national and international clients. This long-term agreement is further confirmation that our expanded platform offers clients the best real estate solutions in the industry."

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