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Newmark Grubb Knight Frank Strengthens Presence in Central U.S.

Oklahoma Real Estate Companies Merge, Expand NGKF Bench

New York, NY (05/17/2013)

10:00 AM

Prominent Oklahoma real estate executives Harrison Levy, Tim Strange and Mark Beffort have joined forces to partner with global commercial real estate services firm Newmark Grubb Knight Frank (NGKF). With offices in Oklahoma City and Tulsa, the new firm will be known as Newmark Grubb Levy Strange Beffort-or Newmark Grubb in everyday parlance.

Messrs. Levy and Beffort formed Grubb & Ellis|Levy Beffort in 2004. They've now come together with William T. Strange & Associates (a former Sperry Van Ness affiliate) to make up the new firm. Mr. Levy, third generation to the firm's founder, is the chairman of the company; Mr. Beffort is CEO; and Mr. Tim Strange is president.

This noteworthy partnership strengthens NGKF's capabilities in the central United States, and coincides with three other former Grubb & Ellis partnerships, including; Pfefferle Companies, Inc., which has offices in Appleton, Green Bay and Wausau, Wis.; Solomon Partners, LLC, with offices in Bentonville and North Little Rock, Ark., and Marc C. Johnson, LLC, based in Fargo, N.D. These firms will do business as Newmark Grubb Pfefferle, Newmark Grubb Arkansas, and Newmark Grubb Johnson & Associates, respectively.

NGKF's strategy to expand in key markets was set in motion when BGC Partners, Inc., a leading global brokerage company serving the wholesale financial and real estate markets, acquired Newmark Knight Frank in October 2011, which was followed quickly by the acquisition of the assets of the former Grubb & Ellis and the official formation of NGKF as a powerhouse global commercial real estate firm in April 2012.

"The declaration of these local firms, by partnering with NGKF, is to acknowledge the changes impacting all owners and users, public and private, whose expectations for value-added services constantly change. Without a comprehensive offering of integrated resources, small firms in secondary markets will struggle to compete," said Michael Sheinkop, executive vice president and regional managing director of NGKF. "Our platform is organized to take a strategic and thoughtful approach to providing relevant service anytime we engage. Thus, it is fundamental to our strategy to select best-in-class local experts who share our philosophy to develop optimal solutions for clients facing complex real estate issues.

"Our new partners place a value on our reach and resources in New York, a strong and productive international presence and a robust corporate services infrastructure. Moreover, they'll be able to offer their clients a broader and deeper menu of services, coupled with a global footprint."

Newmark Grubb Levy Strange Beffort, representing Oklahoma's two largest metropolitan areas, offers brokerage, development, investment and other commercial real estate services.

Newmark Grubb Pfefferle, led by CEO and Chairman John Pfefferle and President Mike Pfefferle, has been in business for more than 40 years. It operates in several markets in eastern Wisconsin. A new office in Madison, the state capital, is in the planning stages.

Newmark Grubb Arkansas, led by Principals Paul Esterer and J. Fletcher Hanson III, serves clients throughout Northwest and Central Arkansas with a team of a dozen professionals focused on office, industrial, retail and investment real estate. Home to Walmart, the world's largest retail organization, Arkansas is enjoying strong economic growth, largely fueled by suppliers and logistics companies with ties to the area.

Newmark Grubb Johnson & Associates, led by President Marc C. Johnson, handles office, industrial, retail, land and investment property brokerage in North Dakota and western Minnesota. Currently the main source of economic growth in that market is the Bakken shale formation, which has turned North Dakota into the nation's third-largest oil producer behind Alaska and Texas.

About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank (NGKF) is one of the world's leading commercial real estate advisory firms. Together with its affiliates and London-based partner Knight Frank, NGKF employs more than 11,000 professionals, operating from more than 340 offices in established and emerging property markets on five continents.

With roots dating back to 1929, NGKF's strong foundation makes it one of the most trusted names in commercial real estate. Its integrated services platform includes leasing advisory, global corporate services, investment sales and capital markets, consulting, program and project management, property and facilities management, and valuation services. A major force in the real estate marketplace, NGKF serves the local and global property requirements of tenants, landlords, investors and developers worldwide. For further information, visit www.ngkf.com.

NGKF is a part of BGC Partners, Inc. (NASDAQ: BGCP), a leading global brokerage company primarily servicing the wholesale financial and real estate markets. For further information, visit www.bgcpartners.com.