Newmark Expands Presence in Western US Through Alliance with Mountain West

Newmark Group has strengthened its presence in Utah, Idaho, Wyoming, Montana, and Nevada through an alliance agreement with Mountain West Commercial Real Estate. Mountain West will operate as Newmark Mountain West and leverage Newmark's brand and network. The alliance aims to expand Newmark's commercial real estate services in the region.

Newmark Group, Inc. (Nasdaq: NMRK) has bolstered its commercial real estate services in Utah, Idaho, Wyoming, Montana, and Nevada through an alliance agreement with Mountain West Commercial Real Estate. Mountain West will operate under the banner of Newmark Mountain West, leveraging Newmark's globally recognized brand and extensive network. The strategic partnership aims to enhance Newmark's commercial real estate offerings in the Intermountain West region.

The alliance agreement will see Mountain West, the leading commercial real estate brokerage firm in the region, operate as an independently owned and operated member of Newmark's Licensee Group. By combining Mountain West's local expertise with Newmark's global platform, Newmark Mountain West will deliver comprehensive commercial real estate services tailored to the needs of clients across the region.

Lou Alvarado, Chief Operating Officer of Newmark, highlighted the benefits of the partnership, stating, "By combining Mountain West's regional expertise with Newmark's expansive resources and global platform, we're creating even greater value for our clients—today and into the future. Newmark Mountain West's services complement Newmark's suite of Investor and Occupier Solutions."

Newmark Mountain West will operate with nearly 200 employees and offices in 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. The combined team has a proven track record, having completed over 5,000 transactions across five countries and 39 states since the start of 2022, totaling more than $9.3 billion in total value [1].

The alliance also aims to build a next-generation commercial real estate business that is agile, data-driven, and designed to meet the evolving needs of clients across the Intermountain West and beyond. Chad Moore, Chairman of Newmark Mountain West, expressed excitement about the partnership, stating, "We're eager to see where this relationship takes our companies."

Newmark Mountain West's team includes industry-recognized brokers, such as Utah CCIM's Retail, Specialty, Investment, and Industrial brokers of the Year, as well as the Broker Team of the Year. The combined team has been involved in significant transactions, including a $370 million Amazon industrial portfolio sale across the western U.S., a 270,000-square-foot industrial lease in Layton, Utah, and the $91.5 million sale of the Marriott Courtyard hotel in downtown Salt Lake City [1].

Nick Wood, Chief Executive Officer of Newmark Mountain West, underscored the value that Newmark's resources and global reach bring to the partnership, enhancing everything from market intelligence to client execution. He noted, "By integrating these strengths with Mountain West's deep regional knowledge, we're delivering more strategic, far-reaching solutions for our clients."

This strategic alliance positions Newmark to deliver broader capabilities and deeper insights to clients across the Intermountain West, further solidifying its position as a leading commercial real estate service provider in the region.

References:
[1] https://finance.yahoo.com/news/newmark-announces-alliance-agreement-mountain-150000456.html
[2] https://www.marketscreener.com/news/newmark-announces-alliance-agreement-with-mountain-west-leading-intermountain-west-commercial-real-ce7c51dada88f020