Newmark has announced the expansion of law firm Jackson Lewis P.C. to 16,010 square feet of space at 400 Capitol Mall.
400 Capital Mall is a premier 507,264-square-foot Sacramento office tower. This landmark project was designed by award-winning architect, Hellmuth, Obatta & Kassabaum (HOK), and constructed in 1992. The building houses the market’s premier law, accounting and other professional service firms.
Newmark Senior Managing Director Dan Chamberlain represented Jackson Lewis in the expansion.
“Jackson Lewis had relocated to 12,748 square feet of space at 400 Capitol Mall in 2015. We are excited to announce their recent expansion and growth representing a 30 percent increase for the firm,” noted Chamberlain.
“Jackson Lewis P.C. is steadily increasing our scope of services across the country, including Sacramento,” said Cary G. Palmer, Sacramento Office Managing Principal. “We realized that to meet our clients’ growing needs, additional office space was necessary. We have a great team of professionals in Sacramento. We added four professionals to our team this year, and expect to hire more next year to keep up with increased demand. Next year marks our 20th Anniversary in Sacramento and 60th Anniversary for the firm. I have loved my 20 years with the firm, and I am very excited about the future of our office and the firm.”
The Jackson Lewis expansion further underscores the strength of the Sacramento market, according to Newmark. The Sacramento office market maintained strong momentum through the first three quarters of 2017, posting over 260,000 square feet of net absorption in the third quarter. This brings the year-to-date net absorption to just under 800,000 square feet, setting the stage for one of the office market’s best performances in over a decade.
“It’s exciting to see prestigious firms such as Jackson Lewis grow in this market. It further demonstrates the demand for quality space and the increased presence of professional service firms in Sacramento,” added Chamberlain.
According to the Federal Bureau of Economic Analysis on the gross domestic product of the country’s largest metropolitan areas for 2016, the Sacramento Metropolitan Statistical Area grew at a rate of 3.1%, one of the highest growth rates in the country. This doubled the national average of 1.5% for other major metropolitan areas.
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, corporate advisory services, consulting, project and development management, property and corporate facilities management services, valuation and advisory services, and capital markets services provided through its Newmark Capital Markets brand. 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.