Newmark Knight Frank Enters Detroit Market
Forms Partnership with Friedman Real Estate Group;
Taps Industry Veteran Steve Morris to Head Strategic Advisory Services Group
Date: 29 January 2007 |
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Detroit (January 29, 2007) — Global commercial real estate services provider Newmark Knight Frank continues its national expansion by forming a partnership with Detroit real estate firm Friedman Real Estate Group, Inc. The new office, which will operate as Newmark Knight Frank, will be led by Newmark Knight Frank Executive Managing Director and Principal Steve Morris—former principal/co-owner of GVA Strategis. A key player on Morris’s team will be Randy Tarnow, senior vice president, who will focus on tenant advocacy, portfolio assessment and strategic facility planning. David Friedman, president & CEO of Friedman Real Estate Group, and Mitchell Lipton, executive vice president and managing partner of Friedman Real Estate Group, will both work with Morris and his team to develop new lines of business.
“We’ve worked very hard to develop strong relationships with our clients over the past 20 years,” says David Friedman. “We’re always looking for new ways to serve our clients’ needs, and our partnership with Newmark Knight Frank will allow us to provide them with sophisticated new services on a global scale.”
“Newmark Knight Frank will be an immediate active participant in the Detroit metro area’s vibrant real estate scene,” says Ed Friedman, executive vice president and principal, global brokerage and advisory services, for Newmark Knight Frank. “After an exhaustive search and due diligence process, the new office will commence operations as Newmark Knight Frank with the professional staff of Friedman Real Estate Group in Michigan for all service lines except property management, multifamily, and landlord representation, which will maintain the Friedman brand.
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“Friedman Real Estate Group has rightfully earned a sterling reputation amongst clients and competitors and we are very fortunate to have found like-minded, talented professionals who adhere to the same inculcated values. David Friedman, Mitchell Lipton, Steve Morris and Randy Tarnow bring the highest level of professionalism, integrity and strategic thinking that create the foundation for performing high value added work,” adds Ed Friedman.
Detroit, Ed Friedman points out, is the nation’s eighth-largest metropolitan area and has a highly educated work force, an average household income that is 7.4 percent above the national average, a commitment to reconfiguring its manufacturing base, and a burgeoning research and development industry that works in concert with multiple academic and healthcare institutions.
“I’m excited and honored to have the opportunity to align with a global service provider considered to be a true powerhouse in the commercial real estate industry,” says Lipton.
“I’ve enjoyed my long association with GVA,” says Morris. “I’ll miss my many friends at this fine organization. However, the dynamic team at the new Detroit Newmark Knight Frank office, coupled with the deep global platform of a market leader in corporate user representation, presented an opportunity I couldn’t turn down.”
New York-headquartered Newmark Knight Frank and London-based partner Knight Frank operate from over 165 offices in established and emerging property markets on six continents. Last year, transactions were valued at over $41 billion with annual revenues of over $545 million. With a combined staff of 4,500, this major force in real estate is meeting the local and global needs of owners, tenants, investors and developers worldwide. For further information, visit www.newmarkkf.com.
Notes to Editors
Knight Frank
London-headquartered Knight Frank and its New York-based partner Newmark Knight Frank operate from over 140 offices in established and emerging property markets on five continents. Last year, the companies handled transactions valued at over $41 billion with annual revenues of over $545 million. With a combined staff of 4,500, this major force in real estate is meeting the local and global needs of owners, tenants, investors and developers worldwide. For further information about the Company, please visit www.knightfrank.com