ExcessSpace Named Exclusive Advisor for Jack in the Box Real Estate Disposition Effort
Rhea-AI Summary
Newmark Group (Nasdaq: NMRK) announces that its subsidiary ExcessSpace has been selected as the exclusive real estate advisor for Jack in the Box's strategic disposition of approximately 150-200 restaurant locations, primarily in the western United States.
The assignment will be led by Executive Managing Directors Howard Goldfarb and Leo Greco, focusing on implementing strategic disposition solutions to maximize value across the portfolio. ExcessSpace, which has helped clients reduce real estate liabilities by over $6 billion, brings significant portfolio optimization expertise to this project.
Positive
- Secured exclusive advisory role for major restaurant chain disposition
- Assignment involves significant portfolio of 150-200 locations
- Demonstrates continued success in attracting major corporate clients
- Builds on track record of reducing client real estate liabilities by over $6 billion
Negative
- Revenue impact from assignment not disclosed
- Project timeline and financial terms not specified
News Market Reaction – NMRK
In the trading session that priced this news, NMRK declined 0.64%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Newmark Company Will Oversee Strategic Disposition of 150–200 Sites
The assignment, led by Executive Managing Directors Howard Goldfarb and Leo Greco, was announced in conjunction with Jack in the Box's broader strategy to streamline operations and improve financial performance by closing approximately 150 to 200 locations. ExcessSpace services will include identifying and implementing strategic disposition solutions to maximize value across a geographically diverse portfolio.
"This assignment is an opportunity to bring Newmark's deep portfolio optimization expertise to bear on a complex, mission-critical mandate," said Michael Wiener, President of ExcessSpace. "We are proud to partner with Jack in the Box and look forward to executing a best-in-class approach to help them meet their objectives."
ExcessSpace, Newmark's retail disposition group, provides lease restructuring, terminations, subleasing and property sales services for retailers across the
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended March 31, 2025, Newmark generated revenues of over
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. These include statements about the Company's business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. 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 Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.
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SOURCE Newmark Group, Inc.