Newmark and Mountain West Join Forces to Enhance Real Estate Services in the Intermountain West

Newmark and Mountain West: A Powerful Alliance in Commercial Real Estate

In a significant move aimed at strengthening its foothold in the Intermountain West, Newmark Group, Inc. (Nasdaq: NMRK) recently announced its partnership with Mountain West Commercial Real Estate. This alliance marks a transformative step for both firms, offering enhanced commercial real estate services across five states: Utah, Idaho, Wyoming, Montana, and Nevada.

A Uniting of Expertise

With Newmark’s extensive global network and Mountain West’s deep regional expertise, the newly formed Newmark Mountain West is poised to deliver unparalleled value to clients. As an independent member of the Newmark Licensee Group, Mountain West will capitalize on their local knowledge while leveraging Newmark's internationally recognized brand.

Chad Moore, Chairman of Newmark Mountain West, emphasizes the added value of this partnership. He remarked that the collaboration aims to create a next-generation commercial real estate firm that is agile and driven by data. It's not just about geographical expansion; it's about creating innovative solutions in a rapidly evolving market.

Over 5,000 Transactions Completed

Since the beginning of 2022, the combined teams have successfully completed more than 5,000 transactions across the western US, amounting to over $9.3 billion in total value. These figures highlight the strength and capability of Newmark Mountain West, which has quickly established itself as a formidable player in the commercial real estate sector.

"By combining Mountain West's regional expertise with Newmark's expansive resources and global platform, we're positioning ourselves to create even greater value for our clients—today and into the future," stated Lou Alvarado, COO of Newmark. This sentiment conveys the confidence both parties feel in their synergy and the future prospects of their unified operations.

Expansive Service Offerings

Newmark Mountain West boasts a dedicated team of nearly 200 professionals spread across key locations such as Salt Lake City, Ogden, Clearfield, Pleasant Grove, St. George in Utah; Idaho Falls in Idaho; and Reno and Las Vegas in Nevada. This geographical theater allows for deeper penetration into local markets while providing comprehensive commercial real estate services.

The new union promises to combine the analytical prowess and vast resources of Newmark with the intimate market knowledge held by Mountain West. This holistic approach aims to cater to various client needs, from property strategy to execution, covering every aspect of the property life cycle.

Notable Transactions

Already, Newmark Mountain West’s advisors have been involved in landmark deals in the region, including a substantial $370 million portfolio sale of Amazon industrial properties and a notable lease transaction for a massive 270,000 square feet of industrial space in Layton, Utah. Their achievements illustrate the capability and readiness of this new entity to handle significant market demands.

Furthermore, the sale of the Marriott Courtyard hotel in downtown Salt Lake City for $91.5 million epitomizes the impact this alliance is set to have on the commercial real estate landscape. Such high-profile transactions bode well for building the reputation and brand equity of Newmark Mountain West.

Vision for the Future

As both firms recognize the vast opportunities that lie ahead, there’s a palpable excitement about the future trajectory of Newmark Mountain West. Kyle Roberts, Vice Chairman at Newmark Mountain West, stated, "Bringing together the talent, relationships, and market knowledge of both organizations under one banner will allow us to deliver broader capabilities and deeper insights to our clients."

In summary, the alliance between Newmark and Mountain West not only promises to enhance commercial real estate service delivery in the Intermountain West but also sets the stage for an agile, data-driven business model. With their combined strengths, they are ready to tackle the evolving needs of clients and shape the future of commercial real estate in a region ripe with potential.