Newmark Awarded 21M+ SF National Property and Project Management Assignment for 601W Companies' U.S. Office Portfolio

Rhea-AI Summary

Newmark (Nasdaq: NMRK) has been awarded a long-term Property and Project Management assignment for more than 21 million square feet of 601W Companies' U.S. office portfolio. The mandate covers premier assets in Chicago, New York, New Jersey and Los Angeles and was secured through a coordinated effort led by senior Newmark executives.

According to Newmark, the engagement is designed as an integrated, customized operating program that supports 601W Companies' ownership objectives, tenant experience and operational performance. The company highlights this win as reinforcing momentum in its Management Services and recurring revenue strategy. Newmark reports more than $3.4 billion in revenue for the twelve months ended March 31, 2026 and operations spanning over 185 offices with more than 9,600 professionals.

Positive

• 21M+ SF long-term property and project management mandate across key U.S. office markets
• Contract expands relationship with 601W Companies, an active U.S. office real estate buyer
• Supports Newmark’s strategy to grow recurring revenue in Management Services
• Leverages significant portfolio presence in Chicago, reinforcing local and national platform strength

Negative

• None.

News Explained

The assignment has moved beyond an award: Newmark says it has already begun providing Property and Project Management services at 333 S Grand Avenue in Los Angeles, while the broader more-than-21-million-square-foot mandate remains the disclosed operating scope.

News Market Reaction – NMRK

-1.89%

-1.89% Session close to close

In the Jul 17 session, NMRK declined 1.89%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The prior refinancing announcement, event 1078341, was followed by +0.32%. That record places this a...

Analysis

The prior refinancing announcement, event 1078341, was followed by +0.32%. That record places this assignment in a broader stream of service wins; investors can watch subsequent disclosures for financial contribution and execution risk.

Key Figures

Managed portfolio: more than 21 million square feet Chicago portfolio: more than 12 million square feet Other U.S. markets: more than nine million square feet +4 more

7 metrics

Managed portfolio more than 21 million square feet Long-term U.S. office property and project management assignment

Chicago portfolio more than 12 million square feet 601W Companies' U.S. office portfolio

Other U.S. markets more than nine million square feet New York City, New Jersey and Los Angeles

601W acquisitions more than 10 million square feet Acquired or contracted to acquire

Revenue more than $3.4 billion Twelve months ended March 31, 2026

Operating offices over 185 offices As of March 31, 2026

Professionals more than 9,600 professionals As of March 31, 2026, across four continents

Historical Context

5 past events · Latest: Jul 06 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Jul 06	Refinancing arrangement	Positive	+0.3%	Newmark arranged a $515 million refinancing for Rithm Capital's Manhattan office tower.
Jul 01	Earnings scheduling notice	Neutral	+1.6%	Newmark scheduled its second-quarter 2026 results release and conference call for July 29.
Jun 24	Executive appointment	Positive	-0.1%	Newmark hired Munish Viralam to lead its Real Estate Strategy and Consulting Group.
Jun 09	Headquarters lease	Positive	+2.6%	Newmark represented Brooklyn Defender Services in a 212,000-square-foot headquarters lease.
Jun 09	Property brokerage assignment	Neutral	+2.6%	Newmark brokered the sale of a turnkey scrap metal business in Northern Illinois.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent reactions were positive in four listed events (+0.32%, +1.62%, +2.59% and +2.59%), while the consulting hire produced -0.13%.

Key Terms

recurring revenue, forward-looking statements, form 10-k, form 10-q, +1 more

5 terms

recurring revenue financial

"expand Newmark's recurring revenue businesses"

Revenue that a company expects to receive on a regular, predictable basis from ongoing sources such as subscriptions, service contracts, or repeat customer purchases. It matters to investors because it provides steadier cash flow and makes future earnings easier to forecast—like a landlord collecting monthly rent instead of one-off sales—supporting higher valuations and lower risk when those payments are reliable and customers tend to stay.

forward-looking statements regulatory

"Statements in this document regarding Newmark that are not historical facts are"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

form 10-k regulatory

"filings, including, but not limited to, the risk factors"

A Form 10-K is a comprehensive report that publicly traded companies are required to file annually with regulators. It provides a detailed overview of a company's financial health, operations, and risks, similar to a detailed health report. Investors use this information to assess the company's performance and make informed decisions about buying or selling its stock.

form 10-q regulatory

"contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K"

A Form 10-Q is a detailed report that publicly traded companies are required to file with regulators three times a year, providing an update on their financial health and business activities. It is important for investors because it offers timely insights into a company's performance, helping them make informed decisions about buying or selling stocks. Think of it as a regular check-up report that shows how well a company is doing.

form 8-k regulatory

"contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K"

A Form 8-K is a report that companies file with the government to share important news quickly, such as changes in leadership, major business deals, or financial updates. It matters because it helps investors stay informed about significant events that could affect the company's value or stock price.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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NEW YORK, July 17, 2026 /PRNewswire/ -- Newmark Group, Inc. (Nasdaq: NMRK) ("Newmark" or the "Company"), a leading commercial real estate advisor and service provider to large institutional investors, global corporations and other owners and occupiers, today announced the Company has secured a long-term Property and Project Management assignment with leading institutional investor and developer 601W Companies, expanding the relationship through management of more than 21 million square feet of premier office assets across the U.S., including Chicago, New York, New Jersey and Los Angeles.

Newmark secured the assignment through a coordinated effort led by Jesse Van Dyke, Executive Vice President, Midwest Regional Market Leader, and Richard Holden, President, Property Management, who worked closely with 601W Companies to develop a customized program aligned with 601W Companies' operating philosophy, long-term growth objectives and evolving portfolio needs.

"This assignment reflects the continued execution of our strategy to expand Newmark's recurring revenue businesses while deepening relationships with many of the industry's most sophisticated owners," said Luis Alvarado, Chief Operating Officer. "Property management and project management are critical components of our fully integrated platform, creating opportunities to deliver long-term value for clients while strengthening the breadth and durability of our Investor Solutions business."

The 601W portfolio comprises more than 12 million square feet in Chicago and more than nine million additional square feet across key U.S. markets, including New York City, New Jersey and Los Angeles. Newmark has already begun providing services for 601W's property at 333 S Grand Avenue in Los Angeles.

"601W has been one of the most active buyers of commercial real estate in the United States over the past several years, having acquired or contracted to acquire more than 10 million square feet," said Holden. "That level of conviction reflects exactly the kind of forward-looking ownership we're proud to support."

Newmark will serve as a strategic operating partner across the portfolio, delivering customized Property and Project Management services through an integrated program designed to support 601W Companies' ownership objectives, enhance tenant experiences and drive operational performance across the portfolio.

"Having proactively managed our portfolio through COVID — including restructuring and extending financings across our assets — we are well positioned for long-term growth and focused firmly on the opportunities ahead. We were looking for a strategic partner with the platform, talent and flexibility to match that ambition, and we are excited to work with Newmark on our path forward," said Mark Karasick, Managing Member of 601W. "Newmark brings a level of professionalism and discipline, along with a customized operating model and a collaborative approach, that aligns with our objectives today while providing the scale to grow with us as we continue investing in premier assets across the country."

The assignment further reinforces the Company's ability to serve institutional owners with complex, high-profile portfolios across the United States and reflects continued momentum within Newmark's Management Services businesses, particularly in Chicago, where the portfolio has a significant presence.

"With a significant concentration of assets in Chicago and major holdings across other U.S. markets, this assignment highlights the value of combining deep local market knowledge with the resources and capabilities of our global platform," said Van Dyke. "We're proud to support one of the industry's leading owners and deliver a tailored operating model for a portfolio of this size and complexity."

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, 2026, Newmark generated revenues of more than $3.4 billion. As of March 31, 2026, Newmark and its business partners together operated from over 185 offices with more than 9,600 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

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.

FAQ

What did Newmark (NMRK) announce about its new 601W Companies management assignment on July 17, 2026?

Newmark announced a long-term Property and Project Management assignment for over 21 million square feet of 601W Companies' U.S. office portfolio. According to Newmark, the mandate spans Chicago, New York, New Jersey and Los Angeles and uses a customized, integrated operating program.

How large is the 601W Companies office portfolio managed by Newmark (NMRK)?

Newmark will manage more than 21 million square feet of 601W Companies' U.S. office assets. According to Newmark, this includes over 12 million square feet in Chicago and more than nine million additional square feet across New York City, New Jersey and Los Angeles.

How does the 601W Companies assignment fit Newmark (NMRK)'s strategy for recurring revenue?

The assignment supports Newmark's strategy to expand its recurring revenue businesses, particularly Management Services. According to Newmark, property and project management are core to its integrated Investor Solutions platform and help deepen relationships with sophisticated institutional owners like 601W Companies.

What markets are included in Newmark (NMRK)'s new property and project management work for 601W Companies?

The assignment covers key U.S. office markets, including Chicago, New York City, New Jersey and Los Angeles. According to Newmark, the portfolio has a significant concentration in Chicago and already includes services at 333 S Grand Avenue in Los Angeles.

What recent financial scale did Newmark (NMRK) report alongside the 601W Companies announcement?

Newmark reported revenues of more than $3.4 billion for the twelve months ended March 31, 2026. According to Newmark, it operated from over 185 offices with more than 9,600 professionals across four continents as of March 31, 2026.

What services will Newmark (NMRK) provide under the 601W Companies portfolio mandate?

Newmark will provide integrated Property and Project Management services across the 601W portfolio. According to Newmark, the customized program is designed to support ownership objectives, enhance tenant experiences and drive operational performance for these high-profile office assets.