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Newmark operations get some southern exposure.

Newmark has expanded its Southern regional operations with a new office at 1001 Brickell Bay Drive in downtown Miami.

The new office will service the Greater Miami marketplace, as well as the entire state of Florida, according to Neal B. Golden, senior executive vice president and director of U.S. operations for Newmark, who announced the new initiative.

Mr. Golden said that the opening of the Miami office was necessitated by the increased volume of corporate real estate business Newmark has secured, as well as the continued overall expansion of Newmark's Southern Region. Up until now, although Newmark has been a major player in the South Florida commercial real estate market, the company has run its Florida operations out of its Atlanta office, with a presence in Miami.

"We had been working on some of the most significant projects and assignments in Miami," Mr. Golden related. "Ultimately, because of all of the exciting opportunities and our own client demand, the company made the decision that it was in our best interest to continue the expansion of Newmark into a permanent office in South Florida."

Commenting on the Florida commercial real estate market, Mr. Golden said, "The Florida market continues to improve, but most importantly offers Newmark an opportunity to further expand its brand. Our customers are enthusiastic about the continued growth in South Florida and in other parts of the state and we are anxious to grow our company here."

The firm recently advised South Florida's largest employer Burger King Corp. on its corporate headquarters requirement. Burger King will consolidate two Miami-Dade County locations into a new 250,000 square-foot facility in Coral Gables. Additional major transactions negotiated by Newmark in South Florida recently include a 75,000 square-foot lease for the law firm White & Case LLP and a 70,000 square-foot lease for the law firm Shutts & Bowen LLP. The firm is also representing a host of major corporate clients in Florida including: AirTran Airways, ADP Inc., The Bank of New York Company, among others.

Because of its highly productive Atlanta office and its strong presence in the New York market, Mr. Golden said this office is not your typical start-up since the company has been actively representing its clients in the Florida market for the past 10 years. In addition, the firm is bringing in veteran commercial brokerage professionals who have considerable experience in the Florida real estate market, he added.

While the Newmark office is located in South Florida, the Newmark staff will be responsible for the entire state of Florida and ultimately will represent Florida clients on their corporate real estate needs across the U.S.

The Miami office will be headed by Mr. Golden, who will be managing principal of the new office, along with managing principals Patrick M. Duffy and Bert Sanders, all veteran commercial brokerage professionals with in excess of 17 years of experience.

The trio will be managing a staff of 15 professionals who will be engaged in commercial office, industrial and retail advisory services. Among the new brokers at the firm's Miami office are: managing directors David A. Goldberg, a highly successful commercial broker for Newmark in the Midwest, and Shay Pope, a South Florida native and veteran broker. Recent hires to lead the investment group include managing directors Matt Wanderer and Matt Papunen.

Newmark has been undertaking a highly successful national expansion program for the last three years. Mr. Golden related that the company expects to continue to grow in 2005.
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Title Annotation:Mid-Year Review & Forecast
Publication:Real Estate Weekly
Geographic Code:1USA
Date:Jun 22, 2005
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