NGKF Opens New Office in Colorado Springs
- Mar 12, 2014
Something’s happening about one hour outside of Denver, Colo. The Colorado Springs market is going through recovery, and Newmark Grubb Knight Frank has prepared itself for the impending turnaround with the opening of a new office in the city.
NGKF landed a crackerjack team from Sierra Commercial Real Estate to spearhead the launch of the office. Kent Mau, Brian Wagner and Mark O’Donnell, Jr. bring to the table a long history of success in the El Paso County market.
“Having a Denver-region office, which has roots spanning more than 125 years and is intimately familiar with the Colorado Springs environment, creates incredible synergy for us,” Mau, who has stepped into the role of executive managing director with NGKF, told Commercial Property Executive.
The team is ready to capitalize on the rebound in Colorado Springs, where employment has more than a little something to do with the office market’s sunny future.
“We are seeing job stabilization occurring–incremental growth in local companies whose businesses are beginning to firm up and moderate growth in certain sectors,” Mau said. The growth sectors include software engineering, high-tech industry and aerospace/defense markets. “All of which are fundamental for the market to firmly gain traction,” he added. According to a study by the Pew Charitable Trusts, Colorado is ranked fourth on the list of the country’s top states for job creation in 2014, with an anticipated growth rate of approximately 2.7 percent.
NGKF is well-armed to serve the Colorado Springs market. It doesn’t hurt that the firm’s parent company, global brokerage company BGC Partners Inc., is a spinoff of global financial services firm Cantor Fitzgerald.
“We will be able to leverage resources and contacts with Cantor Fitzgerald’s Investment Banking group and affiliate CCRE,” Mau concluded. “I’m excited to bring these greater capabilities to our clients, which includes the abilities to raise money directly on Wall Street for acquisitions, for example – deeper resources for portfolio sales. We now have a platform to take our listings to the next level.”
Not yet through the first quarter of 2014, and already it’s been a busy year for NGKF. In January, the company announced BGC’s agreement to acquire Cornish & Carey Commercial, a leading commercial real estate services firm with a history in the Northern California market stemming back to 1935.