by Shane Henson — April 23, 2012—BGC Partners Inc., a global brokerage company, recently announced the closing of its acquisition of assets of Grubb & Ellis Company following the approval of the transaction by the U.S. Bankruptcy Court for the Southern District of New York.
BGC is rapidly integrating Newmark Knight Frank, one of the largest commercial real estate firms in the United States, which it acquired in October 2011, with Grubb & Ellis, one of the nation’s best-known commercial real estate brands, to form Newmark Grubb Knight Frank, its new full-service commercial real estate platform. In addition to the Grubb & Ellis professionals now joining the combined firm, Newmark Knight Frank has added more than 50 top-producing brokers in offices across the country in the last several months.
As many have noted, the formation of Newmark Grubb Knight Frank is expected to have a significant impact on the real estate industry.
Frank Michael Lehrman, global head of real estate at BGC, said, “With more than 100 offices in North America, 250 million square feet in property and facilities management, and an outstanding national appraisal business, the creation of Newmark Grubb Knight Frank is a game-changing moment in the real estate industry. Newmark Knight Frank and Grubb & Ellis each have consistently ranked among the leading companies in the real estate industry, and now these two great brands have come together as an even more impressive competitive presence in the real estate marketplace.”
