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Newmark is pleased to announce that several professionals of the firm’s Cincinnati, Ohio office were recently honored with numerous awards from The Commercial Real Estate Council of Greater Cincinnati (CRECGC). Newmark took home awards in nearly every category.
The following prestigious awards were announced at CRECGC’s 2018 Top Producer’s Club annual event, which was held on January 30th, 2019 at the Hyde Park Country Club:
• Executive Managing Directors Douglas Altemuehle and Wayne Hach were awarded the Top Office Leader award (first and second place, respectively) for all of Greater Cincinnati,
• Executive Managing Director Si Pitstick and Senior Managing Director Joshua Young were awarded Top Industrial Leader (first and second place, respectively) for all of Greater Cincinnati,
• Managing Director John Thompson was awarded Top Retail Leader for all of Greater Cincinnati, and
• Senior Managing Directors Keith Yearout and James Vondran, along with Altemuehle and Managing Director Darin Armbruster, were awarded the Most Outstanding Transaction of 2018 award for all of Greater Cincinnati, in recognition for representing State Teachers Retirement System (STRS) in the $75.5 million sale of 221 E. Fourth Street (Atrium Two). In an effort to best position the property for sale, the Newmark leasing team was tasked with leasing the most challenging space in the building. The team was proactive in finding a tenant and secured a lease with Kroger, which was subsequently downtown Cincinnati’s largest lease deal of the year. Through detailed valuation, strategic marketing and momentum pricing, Newmark’s Capital Markets team successfully created a highly competitive bidding environment through which ten offers were received. Following multiple rounds of bidding, the deal was awarded to a foreign capital joint venture group at a price that exceeded the seller’s expectations, ultimately resulting in the largest single building sale of 2018.
“We are extremely honored to receive all of these awards,” said Altemuehle. “I would like to thank CRECGC for recognizing our team’s recent accomplishments and I would also like to congratulate all of the 2018 Top Producers.”
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.
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