Newmark Arranges Sale of Prime Westwood Land Parcel at 10918-10926 Le Conte Avenue in Los Angeles

March 4, 2026 9:00 AM

Newmark announces the Company has completed the $38.2 million sale of 10918-10926 Le Conte Avenue, a 1.16-acre land site with a 9,647-square-foot office building in the heart of Westwood, California.

Newmark Executive Managing Director Ryan Plummer and WESTMAC Executive Vice Presidents Willa McNamarra Fields and Jim Burnap co-represented the seller, Le Conte Westwood Development, in the off-market transaction. The buyer was co-represented by Newmark Executive Managing Director David Kluth and JLL Executive Vice President Aliya Coher.

The property benefits from its prime location adjacent to UCLA and Ronald Reagan UCLA Medical Center, steps from the vibrant Westwood Village retail and dining corridor and with direct access to major thoroughfares and the I-405 and I-10 freeways for connectivity throughout the Westside of Los Angeles. The buyer’s plans for the new development will be revealed in the coming months.

“Westwood remains one of the most resilient and sought-after submarkets in Los Angeles, driven by its proximity to UCLA, affluent demographics and limited development opportunities,” said Kluth.

“An irreplaceable land site near UCLA in Westwood Village is a once-in-a-generation foothold in the heart of Los Angeles, where scarcity, walkability and enduring demand intersect,” said Plummer. “This core Los Angeles institution’s presence in Westwood is poised to deliver lasting benefits to the entire surrounding community.”

Coher added, “This prime parcel represents a rare chance to acquire land in a high-demand location, and we were pleased to represent the buyer in securing this strategic asset.”

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 December 31, 2025, Newmark generated revenues of nearly $3.3 billion. As of December 31, 2025, Newmark and its business partners together operated from approximately 175 offices with over 9,300 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.