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Newmark has announced the completion of a new 34,256-square-foot lease for Nuance Communications at 29903 Agoura Road in Agoura Hills. The restructured lease reflects a strategic space reduction providing a rent savings and tenant concessions for Nuance, a leading provider of voice and language solutions for businesses and consumers.
Newmark Executive Managing Directors David Kluth and Josef Farrar represented Nuance while owner Norm Kravetz represented his company Realty Bancorp Equities in the transaction. Kluth and Farrar represented TouchCommerce, Newmark’s original client that Nuance acquired in 2016, on their relocation to 29903 Agoura Road in 2014.
“In 2018 we were re-engaged in advance of the firm’s lease expiration to conduct a competitive negotiation process,” said Kluth. “After careful consideration of the compelling relocation options, Nuance decide to remain at 29903 Agoura Road in a reduced footprint of approximately 13 percent,” Farrar added.
About Newmark
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 16,000 professionals operate from approximately 430 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com. Newmark Group is a publicly traded subsidiary of BGC Partners, Inc. (“BGC”) (NASDAQ: BGCP), a leading global brokerage company servicing the financial and real estate markets.
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