Newmark announced today that it facilitated the sale of the National Association of Professional Insurance Agents (PIA) headquarters comprising multiple parcels located at 400, 414 and 418 North Washington Street and 413 and 417 North Columbus Street in Alexandria, Virginia on behalf of PIA to parties related to Sunrise Senior Living, LLC.
Newmark’s Jeff Tarae, Larry FitzGerald and Chris DiBitetto represented PIA in the sale, as well as in the acquisition of PIA’s new headquarters space in Old Town Alexandria located at 415 and 419 North Lee Street.
“For more than 40 years, North Washington Street has been PIA’s home and our place in the community. As representatives of the nation’s independent, professional insurance agents, our core values include helping people and being a good neighbor,” said PIA’s Executive Vice President & CEO Mike Becker. “As we move just a few blocks away, we look forward to remaining a contributing member to our Alexandria community.”
“With the sale of its initial headquarters office space and the acquisition of new space, PIA is poised to continue to successfully serve its members in its new Old Town location,” said Newmark Managing Director Jeff Tarae. “We were pleased to see PIA’s original headquarters, with high visibility along North Washington Street, garner so much attention in the market,” added Executive Managing Director Larry FitzGerald.
About National Association of Professional Insurance Agents
Founded in 1931, PIA is a national trade association that represents member insurance agents and their employees who sell and service all kinds of insurance, but specialize in coverage of automobiles, homes and businesses. PIA members are Local Agents Serving Main Street America SM. PIA’s web address is www.pianet.com.
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.