Newmark today announced that its market expert Jeffrey Schultz has been retained by Sterling Equities as the exclusive leasing agent to market Foster Plaza Nine, a 155,693-square-foot, Class A office space located at 750 Holiday Drive in Pittsburgh, Pennsylvania within the Parkway West submarket.
Foster Plaza Nine is a multi-tenant facility in an 11-building premier suburban office park, one mile from Pittsburgh’s Central Business District (CBD), totaling over one million square feet. Foster Plaza Nine is currently 68 percent leased, with a total of 44,500 square feet of available space-17,977 square feet of which is contiguous. The office park is in the process of developing a new brand identity including extensive property renovations. Planned improvements include the addition of a 5,000-square-foot tenant amenity floor, including collaborative space, a kitchen, a vending C-Store, and a hi-tech conference center.
“We are eager to work with Sterling Equities on this project,” said Jeff Schultz. “Ownership understands the requirements of today’s tenants and is motivated to facilitate transactions and invest in modernizations to the property.”
Sterling Equities is a New York-based, diversified, family-run group of companies guided by the values of partnership and civic responsibility. Its portfolio focuses on holdings in real estate, sports and media. Highlights include the New York Mets, Sportsnet New York, Real Estate Investment Portfolios, related real estate services businesses and private equity.
Foster Plaza Nine employs a full team of engineers and is professionally managed by Burns and Scalo Management, LLC.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark”), is one of the world’s leading commercial real estate advisory firms. Newmark has over 4,600 employees in over 120 offices. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents. With roots dating back to 1929, Newmark’s strong foundation makes it one of the most trusted names in commercial real estate. We offer a complete suite of services and products for both owners and occupiers across the entire commercial real estate industry.
Our investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting and, under trademarks and names like Berkeley Point and Newmark Capital Markets, government sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Our occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. We enhance these services and products through innovative real estate technology solutions and data analytics designed to enable our clients to increase their efficiency and profits by optimizing their real estate portfolio. We have relationships with many of the world’s largest commercial property owners, real estate developers and investors, as well as Fortune 500 and Forbes Global 2000 companies. For further information, visit www.ngkf.com.
Newmark, which is listed on the NASDAQ Global Select Market under the symbol “NMRK”, is a publicly traded subsidiary of BGC Partners, Inc. (“BGC”), 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 “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 “BGCA”.
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. 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 and BGC’s Securities and Exchange Commission filings, including, but not limited to, any updates to such risk factors contained in subsequent Forms 10-K, 10-Q, or Forms 8-K.