Newmark announces OVHcloud’s 15,000-square-foot lease in Irving’s Riverside Commons, owned by Brookfield Property Group. Located at 5000 Riverside Drive, Riverside Commons offers a proven corporate neighborhood, a central location within the DFW metroplex and easy access to area transit. Newmark Executive Managing Director John Wolf, SIOR represented OVHcloud on the lease transaction.
Established in 1999, Roubaix-based OVHcloud is the is the largest European cloud computing company, with more than a million customers. It runs a global network consisting of 28 data centers and 300,000 servers hosting 18 million web applications across 19 countries. The acquisition of VMware’s vCloud Air business in 2017 let OVHcloud penetrate the US market, where it now operates two data centers - in Virginia and Oregon.
In the Dallas market, OVHcloud originally shared its space with VMware. The recent divestiture of VMware’s vCloud Air business to OVHcloud necessitated separation of the two businesses, requiring OVHcloud to find new office space in a tight market.
“OVHcloud had an immediate requirement and we found a creative solution,” explained Wolf. “We were able to take advantage of our intimate knowledge of the Las Colinas market and tremendous experience working with Brookfield to execute a solution and enable OVHcloud to occupy space in about a week from being given the go ahead.” Newmark has a national relationship with OVHcloud, spearheaded by Newmark Executive Managing Director Edwin Clark III, based in the company’s Washington, D.C. office.
“Newmark offered exceptional expertise and support in our search for the right space,” added Suzanne Law Marisa, US General Counsel of OVHcloud. “Their identification of immediate temporary space and then a permanent location so quickly allowed for continuity of operations while maintaining a positive working environment, which was instrumental in maintaining employee retention during the transition.” OVHcloud plans to move into their permanent space at Riverside Commons by the third quarter of 2019.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 16,000 professionals operate from approximately 430 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. 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. For further information, visit www.ngkf.com.
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