Newmark Completes 85,653-Square-Foot Lease with Vallarta Supermarkets in Canoga Park, CA

9:00 AM

Newmark has completed a 20-year, 85,653-square-foot lease with Vallarta Supermarkets on behalf of the ownership. Move-in is anticipated to occur in late 2018.

Newmark Senior Managing Director Mark Baziak and Associate Geoff Foley represented the landlord, Auburndale Properties. Springstead Associates represented the tenant.

Located at 8201 Topanga Canyon Blvd. in Canoga Park, CA, the grocer will occupy space formerly occupied by Vons. The space is within a larger retail center that totals 150,000 square feet with tenants including T-Mobile, McDonald’s and El Pollo Loco.

“There was a lot of interest from potential tenants for this space. Ultimately, we chose an ideal brand that was flexible with lease terms and that was a good fit with the local community,” said Baziak. “Ethnic grocers are doing extremely well in Southern California. Vallarta, which has a strong following and growing sales, was a strategic choice and will serve the significant surrounding Latino population.”

About Newmark
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark”), is one of the world’s leading commercial real estate advisory firms. Newmark has over 4,600 employees in over 120 offices. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents. With roots dating back to 1929, Newmark’s strong foundation makes it one of the most trusted names in commercial real estate. We offer a complete suite of services and products for both owners and occupiers across the entire commercial real estate industry.

Our investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting and, under trademarks and names like Berkeley Point and Newmark Capital Markets, government sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Our 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. We enhance these services and products through innovative real estate technology solutions and data analytics designed to enable our clients to increase their efficiency and profits by optimizing their real estate portfolio. We have relationships with many of the world’s largest commercial property owners, real estate developers and investors, as well as Fortune 500 and Forbes Global 2000 companies. For further information, visit www.ngkf.com.

Newmark, which is listed on the NASDAQ Global Select Market under the symbol “NMRK”, is a publicly traded subsidiary of BGC Partners, Inc. (“BGC”), a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol “BGCP”. BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol “BGCA”.

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. 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 and BGC’s Securities and Exchange Commission filings, including, but not limited to, any updates to such risk factors contained in subsequent Forms 10-K, 10-Q, or Forms 8-K.