Newmark Grubb Knight Frank (NGKF) Management Services is boosting its greater Washington, D.C., portfolio by 800,000 square feet with four Class A office buildings on behalf of two owners, Clark Enterprises, Inc. and Spear Street Capital. Dan Orcutt, director of management services, leads NGKF’s property management group in the Washington, D.C. area.
“We are incredibly pleased to have Clark Enterprises and Spear Street Capital join our roster of D.C. clients. Our team continually looks to implement creative solutions that streamline each building’s management processes and maximizes the buildings’ potential,” said Mr. Orcutt. “Both clients understand the importance of a highly skilled team and a custom approach for effective property management in the life cycle of any asset.”
NGKF will oversee Capitol View at 425 3rd Street, SW, and 1133 15th Street, NW, for Clark Enterprises, parent company to Clark Construction, one of the largest privately held general contractors in the U.S. The award-winning Capitol View, named for its unmatched views of the government building and landmark, was developed in 2007 by Clark Enterprises and offers over 228,000 square feet of Class A LEED-EB Gold office space, including rooftop terraces, 11th floor private balconies and a fitness center. The 202,000-square-foot 1133 15th Street, NW, is a LEED-EB Gold-certified office building in the central business district and home to tech startup campus and accelerator 1776.
NGKF also will manage The Flour Mill, located at 1000 Potomac Avenue, NW, in Georgetown, and 1881 Campus Commons Drive in Reston, Va., on behalf of Spear Street Capital, a real estate investment company owning select office properties in the U.S. and Canada. The 126,000-square-foot Flour Mill was originally built in 1847 with additional buildings added in 1922 and 1980, and was then renovated in 2005, while 1881 Campus Commons Drive was developed in 1999 and totals nearly 244,000 square feet of LEED-EB Silver office space.
“NGKF is at the forefront of applying innovative approaches towards increasing efficiency and cost savings to grow the bottom line for our investor clients,” said Brendan Owen, chairman of asset services. “The additions of these properties are a testament to our management team’s successful methodologies. We are excited to continue growing our portfolio here in D.C.”
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/.