Another national player in commercial real estate has planted its flag in Richmond.
New York-based brokerage Newmark recently launched its local operations, after recruiting Victoria Pickett, Charles Wentworth and Garrison Gore to lead its charge in Central Virginia. The trio had been with Colliers International.
Founded in 1929, Newmark has around 170 offices worldwide. It had already had a presence in markets surrounding Richmond such as Washington, D.C., Northern Virginia and Raleigh, which Mid-Atlantic market leader Allison DiGiovanni said helped put Richmond on its radar.
“We’ve seen increased requests for service in (Central Virginia) from both existing and potential clients, and market fundamentals have remained positive relative to nearby major metro markets,” DiGiovanni said in an email.
Newmark spokespeople declined to say whether the company is planning to establish a physical office in the Richmond region. Asked if Newmark will look to continue to add to its roster here, DiGiovanni said they will ”enthusiastically explore all growth opportunities that make sense for us in this new territory.”
Pickett, Wentworth and Gore will service Richmond and Norfolk, with a focus on selling multifamily buildings.
Newmark is the latest national commercial brokerage to move into Richmond. Last year, Southern California’s Lee & Associates launched its first local office.
Newmark is publicly traded and posted $2.9 billion in annual revenue in its most recent annual report.