News Summary
Newmark is making significant strides in its expansion plans across the U.S. with several key hires in Los Angeles, San Francisco, and Miami. The additions of high-profile executives promise to enhance their retail and healthcare services while a monumental $7.1 billion construction loan for an AI-focused data center marks a pivotal moment for the firm’s growth. Additionally, Newmark is integrating its Property Management and Facilities Management services for better client solutions. This series of developments underscores Texas’s booming business landscape and Newmark’s commitment to leading the way across various sectors.
Texas – Newmark has made significant strides in expanding its workforce, hiring several experienced professionals across major U.S. cities to enhance its retail and healthcare services. The new hires include veteran real estate executives with extensive backgrounds in advising major brands and consulting clients in various industries, indicating a strategic move to improve Newmark’s offerings in these sectors.
Among the new appointments, Jonathan Schley and Andrew Turf have been named vice chairmen in Newmark’s Los Angeles office. Both previously worked at CBRE and bring a wealth of knowledge to their roles. Schley and Turf have advised luxury retailers such as Audemars Piguet, Byredo, and Baccarat on international expansion and first-to-market strategies. Their experience also includes consulting for real estate development and investment clients, notably Anderson Real Estate and Caruso.
Newmark is further strengthening its San Francisco office with the addition of Ben Lazzareschi as a senior managing director, also formerly with JLL. Joining him is David Kessler, appointed as associate director, who has experience leading leasing initiatives for brands such as Williams Sonoma and Shake Shack. Their combined expertise is expected to fortify Newmark’s retail services in the competitive San Francisco market.
In Miami, Greg Masin and Frank Begrowicz have been appointed as executive managing directors, having previously held positions at Cushman & Wakefield. Masin and Begrowicz have substantial experience in guiding major brands like Supreme, Fendi, and Zara through their expansion efforts in South Florida, which includes high-demand areas such as South Beach and Wynwood.
Additionally, Avison Young made several moves in Texas and beyond. Sullivan Johnston has been promoted to senior vice president in the Austin office, where she is recognized for her contributions as a founding member of the land, development, and industrial advisory team. Stefan Ivanisevic has been appointed as vice president in Avison Young’s Chicago office after transitioning from a senior associate role at JLL.
In a related development, JLL has brought on Steve Echols as a senior vice president, focusing on its project development services team in Dallas. Echols, who has a rich 35-year history in the industry, previously worked at CBRE.
Lincoln Property Co. is also expanding its footprint in Florida’s healthcare real estate sector. The company has hired Brian Wilcox as senior vice president, along with Matt Poncy as vice president and Jonah Puttbach as senior transaction manager. Wilcox’s 19 years of experience in healthcare brokerage, notably with Holladay Properties, positions him to lead initiatives in the Southeast region.
Meanwhile, Hudson Valley Property Group has announced promotions for James Lee and Drew McKessey. Lee will now oversee design and construction while McKessey steps into the role of controller of development accounting, both focusing on affordable housing projects.
In a notable financial move, Newmark arranged a substantial $7.1 billion construction loan for the second phase of a cutting-edge AI-focused data center campus in Abilene, Texas. This development, with a total projected cost of $15 billion, represents one of the largest data center projects in the region. The financing was led by J.P. Morgan with participation from a syndicate of institutional lenders. Newmark executives, including Jordan Roeschlaub, Nick Scribani, and Ben Kroll, played vital roles in securing this landmark loan.
The second phase will enable the expansion of the data center into a 1.2-gigawatt hyperscale facility tailored for AI applications and cloud computing. Its initial phase includes two buildings with over 200 megawatts of capacity, with construction having commenced in June 2024. Plans are in place for the second phase to begin construction in March 2025, aiming for operational readiness by mid-2026.
Furthermore, Newmark is streamlining its operations by unifying its Property Management and Facilities Management services. Richard Holden has been appointed as President of Property and Facilities Management, while Jason Martindale takes on the role of Global Facilities Management Leader. This restructuring is aimed at optimizing operations, enhancing sustainability practices, and delivering high-quality solutions to meet client business objectives.
Deeper Dive: News & Info About This Topic
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