New York City — Newmark Group Inc. (NASDAQ: NMRK) has agreed to acquire RKF Retail Holdings LLC, a real estate firm specializing in retail leasing, for an undisclosed price.
The acquisition is expected to close later this year, and will grow New York-based Newmark’s already robust retail business, which includes leasing, investment sales and retail occupier services alongside Excess Space Retail Services Inc., a Newmark company specializing in real estate disposition and lease restructuring. Robert K. Futterman will serve as chairman of Newmark RKF, Newmark’s retail leasing division, and will be responsible for leading the growth of the company’s retail real estate business throughout North America.
“For the last two decades we have attained our leadership position in the retail real estate industry by investing in our people and building a strong brand and culture,” says Futterman, chairman and CEO of RKF. “We have had many choices in partners over the years but having known both Howard Lutnick and Barry Gosin for many decades, this partnership feels like family. We are thrilled to expand the RKF brand to grow Newmark’s retail platform nationally.”