Marking its entry into downtown Sacramento, Newmark Cornish & Carey signed a lease for a suite on the top floor of the award-winning Park Tower, an art-deco-inspired building located at 980 9th Street. Rising 25 stories, the approximately 447,000-square-foot tower offers breathtaking, panoramic views of Sacramento, including the downtown arena that is currently under construction, Raley Field and California’s State Capitol building.
“After 30 years in the Point West region of Sacramento, this move feels like a fresh start,” said Devon Atlee, Newmark Cornish & Carey executive vice president and manager of its Sacramento region. “We have evolved as a company and as part of Newmark Grubb Knight Frank with an expanded service platform are excited to be in the heart of downtown where we are better positioned for growth and recruitment efforts. In Park Tower, Newmark Cornish & Carey will be aligned with young talent as well as growing enterprises which are increasingly seeking a presence in Sacramento’s urban core.”
The approximately 10,500-square-foot suite in Park Tower is 30 percent larger than Newmark Cornish & Carey’s Point West space, allowing for the addition of as many as 11 new agents - currently 29 brokers are based in Sacramento. The extra space may also be used to incorporate new service lines into the office.
Located at 980 9th Street at the corner of J Street, Park Tower soars above the emerging J Street Corridor and is surrounded by many of Sacramento’s most popular restaurants, finest hotels and bustling nightlife venues. Just three blocks from the future downtown arena, the State Capitol and the Railyards, Park Tower is central to the largest development projects in Sacramento.
“Perched on the 25th floor in the epicenter of downtown, we will have a bird’s eye view of Sacramento’s major development activity,” said Atlee. “With the $250 million investment into the arena site, and the city of Sacramento preparing to transform the 224-acre Railyards site into a dynamic, mixed-use, transit-oriented development, downtown Sacramento is poised for a significant renaissance and Newmark Cornish & Carey is thrilled to be part of it.”
Newmark Cornish & Carey will move to Park Tower in October of this year joining tenants such as Deloitte LLP, Regus, California Strategies, LLC and Downtown Sacramento Partnership. Amenities include a state-of-the-art fitness center, premium conference center and ample on-site parking.
About Newmark Cornish & Carey
A dominant regional real estate force since 1935, Newmark Cornish & Carey has an expansive reach as part of Newmark Grubb Knight Frank, one of the world’s leading commercial real estate advisory firms. Regionally, Newmark Cornish & Carey has more than 280 agents in 13 strategically located offices throughout Northern California, creating a powerful platform from which to deliver superior services locally, while upholding its core values of integrity and knowledge. For further information, visit www.newmarkccarey.com.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,000 professionals operate from more than 330 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com/.