Newmark is pleased to announce the addition of CJ Osbrink as executive managing director in its Phoenix office, joining the West Coast Capital Markets team under the direction of Newmark West Coast Capital Markets President Kevin Shannon.
Osbrink comes to Newmark from HFF where he served as managing director in the firm’s Phoenix office. He brings more than11 years of commercial real estate experience specializing in office and retail investment sales throughout Arizona and Southern California.
“CJ is a strong addition to our Phoenix office,” said Greg May, executive vice president, regional managing director, Newmark. “We continue to add to our West Coast team, bringing on market leaders who will further build our presence throughout the region.”
Shannon added, “We feel it’s important for our clients to have a capital markets team on the ground in a growing metro such as Phoenix. CJ will tremendously augment our capital markets capabilities and our team is already working closely with him on several immediate opportunities.”
Prior to his role at HFF, Osbrink worked as a director of acquisitions at a private Orange County-based firm. Before that, Osbrink was a senior associate of acquisitions at Grubb & Ellis Realty Investors.
“Newmark continues to assemble a best-in-class capital markets presence nationally. I’m very excited to join a fast growing, high-caliber capital markets team and look forward to continuing to provide my clients with the same trusted advisory,” said Osbrink.
According to the Newmark 3Q17 Phoenix Office Market Report, the Phoenix market continues to tighten in the third quarter of 2017, as the overall vacancy rate dropped to 19.2 percent, a 10-year low, with asking rents up 8.1% year-over-year.
“Given compressed yields in gateway/coastal markets, Phoenix is a market that continues to see a flight of both institutional and private capital. With the MSA’s strong economic growth, improving fundamentals across virtually all product types, and historically low interest rates, the current climate provides investors with attractive returns and will continue to recognize an influx of capital into the market,” added Osbrink.
Newmark is one of the world’s leading commercial real estate advisory firms. 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. Newmark’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, valuation and advisory 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.
Newmark 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 www.bgcpartners.com.