Latest news with #Newmark
Yahoo
6 days ago
- Business
- Yahoo
Newmark Facilitates $210 Million Sale of Iconic Office Tower in Downtown Los Angeles' Financial District
LOS ANGELES, June 4, 2025 /PRNewswire/ -- Newmark Group, Inc. (Nasdaq: NMRK) ("Newmark" or "the Company"), a leading commercial real estate advisor and service provider to large institutional investors, global corporations, and other owners and occupiers, announces the company has arranged the sale of 601 South Figueroa Street — also known as 601 Fig or Fig at Wilshire — a 1,041,315-square-foot high-rise office tower in Downtown Los Angeles. The asset sold for $210 million, equating to a price of approximately $202 per square foot. Newmark Co-Head of U.S. Capital Markets Kevin Shannon and Vice Chairmen Ken White, Rob Hannan, Laura Stumm and Michael Moll and Director Alex Beaton represented the undisclosed seller. Newmark Executive Vice Chairman and Head of International Capital Markets Alex Foshay worked alongside the aforementioned Newmark team. Newmark Co-President, Global Debt & Structured Finance Jonathan Firestone, Vice Chairman Blake Thompson and Director Henry Cassiday provided support on debt strategy and financing considerations throughout the transaction process. Mark Schuessler, Jordon Garcia and Sean Fulp of Colliers advised the buyer, Uncommon Developers. "601 Fig is one of LA's truly iconic office buildings at the renowned corner of Wilshire Boulevard and Figueroa," said Shannon. "This investment sale will provide long term upside for yet another patient and well-capitalized family office buyer." "Since its completion in 1990, 601 Fig has always had 'power business card' status in the city," added Hannan. "Standing in its majestic 75-foot lobby, you get the sense that you are in a special place, a place where a big deal is about to be made. Uncommon Developers will continue 601 Fig's reputation as one of LA's premier corporate environments." Located at the intersection of Figueroa Street and Wilshire Boulevard, Fig at Wilshire is a 52-story office tower with a distinctive octagonal design and glass crown, contributing to Downtown Los Angeles' skyline. The property offers a range of amenities, including dual lobbies with a 75-foot atrium, a modern fitness center, a WiFi-enabled open-air plaza and onsite dining options, including a coffee shop and fast-casual restaurant. At the time of sale, the building was 72% leased to tenants from diverse industries, with many representing strong national and regional credit profiles. Professional services firm PricewaterhouseCoopers (PwC) serves as the anchor tenant. The property's prime location provides easy access to key Downtown Los Angeles destinations, including Arena, Microsoft Theater, LA Live, Fig at 7th and the 7th Street Metro station, a central rail hub. About Newmark Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended March 31, 2025, Newmark generated revenues of over $2.8 billion. As of March 31, 2025, Newmark and its business partners together operated from 165 offices with approximately 8,100 professionals across four continents. To learn more, visit or follow @newmark. Discussion of Forward-Looking Statements about Newmark Statements in this document regarding Newmark that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company's business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark's Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K. View original content to download multimedia: SOURCE Newmark Group, Inc. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 days ago
- Business
- Yahoo
Newmark Facilitates $210 Million Sale of Iconic Office Tower in Downtown Los Angeles' Financial District
LOS ANGELES, June 4, 2025 /PRNewswire/ -- Newmark Group, Inc. (Nasdaq: NMRK) ("Newmark" or "the Company"), a leading commercial real estate advisor and service provider to large institutional investors, global corporations, and other owners and occupiers, announces the company has arranged the sale of 601 South Figueroa Street — also known as 601 Fig or Fig at Wilshire — a 1,041,315-square-foot high-rise office tower in Downtown Los Angeles. The asset sold for $210 million, equating to a price of approximately $202 per square foot. Newmark Co-Head of U.S. Capital Markets Kevin Shannon and Vice Chairmen Ken White, Rob Hannan, Laura Stumm and Michael Moll and Director Alex Beaton represented the undisclosed seller. Newmark Executive Vice Chairman and Head of International Capital Markets Alex Foshay worked alongside the aforementioned Newmark team. Newmark Co-President, Global Debt & Structured Finance Jonathan Firestone, Vice Chairman Blake Thompson and Director Henry Cassiday provided support on debt strategy and financing considerations throughout the transaction process. Mark Schuessler, Jordon Garcia and Sean Fulp of Colliers advised the buyer, Uncommon Developers. "601 Fig is one of LA's truly iconic office buildings at the renowned corner of Wilshire Boulevard and Figueroa," said Shannon. "This investment sale will provide long term upside for yet another patient and well-capitalized family office buyer." "Since its completion in 1990, 601 Fig has always had 'power business card' status in the city," added Hannan. "Standing in its majestic 75-foot lobby, you get the sense that you are in a special place, a place where a big deal is about to be made. Uncommon Developers will continue 601 Fig's reputation as one of LA's premier corporate environments." Located at the intersection of Figueroa Street and Wilshire Boulevard, Fig at Wilshire is a 52-story office tower with a distinctive octagonal design and glass crown, contributing to Downtown Los Angeles' skyline. The property offers a range of amenities, including dual lobbies with a 75-foot atrium, a modern fitness center, a WiFi-enabled open-air plaza and onsite dining options, including a coffee shop and fast-casual restaurant. At the time of sale, the building was 72% leased to tenants from diverse industries, with many representing strong national and regional credit profiles. Professional services firm PricewaterhouseCoopers (PwC) serves as the anchor tenant. The property's prime location provides easy access to key Downtown Los Angeles destinations, including Arena, Microsoft Theater, LA Live, Fig at 7th and the 7th Street Metro station, a central rail hub. About Newmark Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended March 31, 2025, Newmark generated revenues of over $2.8 billion. As of March 31, 2025, Newmark and its business partners together operated from 165 offices with approximately 8,100 professionals across four continents. To learn more, visit or follow @newmark. Discussion of Forward-Looking Statements about Newmark Statements in this document regarding Newmark that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company's business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark's Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K. View original content to download multimedia: SOURCE Newmark Group, Inc. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
6 days ago
- Business
- Associated Press
Newmark Facilitates $150.7 Million Sale of Trophy Creative Campus in Playa Vista, California
Transaction Marks Highest Sale Price in Los Angeles Year-to-Date1 LOS ANGELES, June 4, 2025 /PRNewswire/ -- Newmark Group, Inc. (Nasdaq: NMRK) ('Newmark' or 'the Company'), a leading commercial real estate advisor and service provider to large institutional investors, global corporations, and other owners and occupiers, announces the Company has facilitated the $150.7 million sale of i|o at Playa Vista, a 306,809 square-foot creative workplace campus in Playa Vista, California. Newmark Co-Head of U.S. Capital Markets Kevin Shannon, Vice Chairmen Ken White, Rob Hannan, Laura Stumm and Michael Moll represented the seller, Clarion Partners. Newmark Co-President, Global Debt & Structured Finance Jonathan Firestone, Vice Chairman Blake Thompson and Director Henry Cassiday provided support on debt strategy and financing considerations throughout the transaction process. The buyer was Barings. 'The response from institutional investors for i|o at Playa Vista was exceptionally strong — a clear sign that institutional capital is re-engaging in the office sector,' said Shannon. 'The managed bid process was highly competitive which speaks to a broader sense of recovery in the capital markets for quality office product.' 'Buyers embraced i|o's rollover profile, which included significant near-term expirations,' added Stumm. 'The willingness of institutional investors to take on leasing uncertainty is a clear vote of confidence in both the Playa Vista submarket and the broader office recovery. The market continues to reward high-quality assets, and this sale reinforces that trend.' The two-building, mixed-use i|o campus has attracted 78,000 square feet of new leasing over the past 24 months at market-leading rates, demonstrating its tenant appeal in a flight-to-quality leasing environment. The property, delivered in 2010 and completely redesigned by Gensler in 2016, has maintained an average occupancy level of over 90% since it was redesigned. The campus provides a compelling, collaborative indoor/outdoor workplace wrapped in a distinct architectural language that includes exterior stairways, large amenitized decks and abundant space amidst a serene interior landscaped courtyard. The property benefits from its central location that offers immediate access to the I-405 and Marina (SR 90) Freeways and the main arterials of the Pacific Coast Highway, La Cienega and LAX, as well as an abundance of amenities and the Westside's desirable executive housing. Trophy buildings in prime locations like Playa Vista are outperforming other asset classes, fueled by strong demand for high-end design and amenities that attract companies eager to bring workers back to the office, according to Newmark Research. About Newmark Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ('Newmark'), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended March 31, 2025, Newmark generated revenues of over $2.8 billion. As of March 31, 2025, Newmark and its business partners together operated from 165 offices with approximately 8,100 professionals across four continents. To learn more, visit or follow @newmark. Discussion of Forward-Looking Statements about Newmark Statements in this document regarding Newmark that are not historical facts are 'forward-looking statements' that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company's business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark's Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K. 1 According to Newmark Research View original content to download multimedia: SOURCE Newmark Group, Inc.
Yahoo
30-05-2025
- Business
- Yahoo
1 Profitable Stock with Solid Fundamentals and 2 to Approach with Caution
Not all profitable companies are built to last - some rely on outdated models or unsustainable advantages. Just because a business is in the green today doesn't mean it will thrive tomorrow. Profits are valuable, but they're not everything. At StockStory, we help you identify the companies that have real staying power. Keeping that in mind, here is one profitable company that balances growth and profitability and two best left off your watchlist. Trailing 12-Month GAAP Operating Margin: 5.1% Largely targeting the professional customer, Genuine Parts (NYSE:GPC) sells auto and industrial parts such as batteries, belts, bearings, and machine fluids. Why Does GPC Give Us Pause? Annual sales growth of 4.2% over the last six years lagged behind its consumer retail peers as its large revenue base made it difficult to generate incremental demand Lagging same-store sales over the past two years suggest it might have to change its pricing and marketing strategy to stimulate demand Day-to-day expenses have swelled relative to revenue over the last year as its operating margin fell by 2.1 percentage points Genuine Parts's stock price of $127.50 implies a valuation ratio of 15.3x forward P/E. To fully understand why you should be careful with GPC, check out our full research report (it's free). Trailing 12-Month GAAP Operating Margin: 5.6% Founded in 1929, Newmark (NASDAQ:NMRK) provides commercial real estate services, including leasing advisory, global corporate services, investment sales and capital markets, property and facilities management, valuation and advisory, and consulting. Why Do We Think NMRK Will Underperform? Lackluster 4.9% annual revenue growth over the last five years indicates the company is losing ground to competitors Cash-burning tendencies make us wonder if it can sustainably generate shareholder value Underwhelming 3.1% return on capital reflects management's difficulties in finding profitable growth opportunities At $11.04 per share, Newmark trades at 7.6x forward P/E. Read our free research report to see why you should think twice about including NMRK in your portfolio, it's free. Trailing 12-Month GAAP Operating Margin: 2.2% Founded in 1974, BrightSpring Health Services (NASDAQ:BTSG) offers home health care, hospice, neuro-rehabilitation, and pharmacy services. Why Is BTSG on Our Radar? Annual revenue growth of 20.9% over the last two years was superb and indicates its market share increased during this cycle Estimated revenue growth of 9.1% for the next 12 months implies its momentum over the last two years will continue Annual earnings per share growth of 6.9% over the last three years modestly outpaced its peers BrightSpring Health Services is trading at $23.21 per share, or 36.4x forward P/E. Is now a good time to buy? See for yourself in our full research report, it's free. Donald Trump's victory in the 2024 U.S. Presidential Election sent major indices to all-time highs, but stocks have retraced as investors debate the health of the economy and the potential impact of tariffs. While this leaves much uncertainty around 2025, a few companies are poised for long-term gains regardless of the political or macroeconomic climate, like our Top 5 Strong Momentum Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Kadant (+351% five-year return). Find your next big winner with StockStory today for free. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Los Angeles Times
26-05-2025
- Business
- Los Angeles Times
Fontana Amazon Fresh Store Sells for $17.8 Million
Sage Investco sold a 40,100-square-foot Amazon Fresh store in Fontana for $17.8 million to a private buyer. The store is the first Amazon Fresh location in San Bernardino County and opened last September to much fanfare after several years of construction. It is located in the Citrus Crossroads Shopping Center alongside Starbucks, Habit Burger Grill, Fedex and West Coast Dental. The 54,000-square-foot property was built on a 4.9-acre parcel. It was billed as a modern prototype for the grocer in Southern California, according to listing documents from brokerage firm Newmark, which represented the seller Newport Beach-based developer Sage Investco. That design integrates the store's online grocery services with home delivery and in-store pickup options. Information for this article was sourced from Newmark.
