Newmark Secures Global Corporate Services Contract with Construction Leader Saint-Gobain for its North American Affiliates

Rhea-AI Summary

Newmark has secured a long-term contract with Saint-Gobain, a leader in light and sustainable construction, to provide Global Corporate Services for its North American affiliates. This contract encompasses real estate strategy, transaction management, lease administration, and project management, covering a portfolio of 38 million square feet of space. The collaboration aims to help Saint-Gobain reduce occupancy costs and enhance operational efficiency. Key figures cited include Newmark's revenue of approximately $2.7 billion for the year 2022, reflecting its robust position in the commercial real estate sector. Newmark's comprehensive service offerings and strategic partnership were crucial in securing this engagement, highlighting its commitment to sustainability and inclusivity.

Positive

• Awarding of a long-term contract with Saint-Gobain enhances Newmark's portfolio and service offerings.
• Engagement covers a substantial 38 million square feet, indicating significant business volume.
• The contract focuses on reducing occupancy costs and increasing efficiency for Saint-Gobain.
• Newmark generated approximately $2.7 billion in revenue for the year ending December 31, 2022.

Negative

• None.

NEW YORK, April 10, 2023 /PRNewswire/ -- Newmark announces that Global Corporate Services (GCS) has been awarded a long-term contract with Saint-Gobain, the worldwide leader in light and sustainable construction, to support operations on behalf of its North American affiliates.

This engagement—which includes real estate strategy, transaction management, lease administration and project management—will cover a portfolio of 38 million square feet of office, distribution and manufacturing space.

"Securing a new multi-service contract with Saint-Gobain demonstrates our commitment to providing clients strategic value. Through great partnership, strategy and implementation, GCS will help Saint-Gobain lower occupancy costs, increase efficiency and optimize the utilization of their real estate portfolio," said Rick Bertasi, Newmark GCS Chief Executive Officer.

"Saint-Gobain was looking for a thought leader and strategic real estate partner, extending beyond a transactional relationship," said Gus Poulopoulos, Newmark GCS Executive Managing Director. "Newmark's integrated global platform that provides seamless beginning-to-end corporate services solutions and the trust built throughout the request for proposal process were key factors in Saint-Gobain's decision-making process."     

Newmark GCS supports Saint-Gobain's commitment to building a more sustainable and inclusive industry. "At Saint-Gobain, Corporate Social Responsibility and our purpose of 'making the world a better home' is at the heart of our value creation model. Our partnership with Newmark GCS is based on a shared belief in fostering a diverse and inclusive environment while minimizing the carbon footprint," said Bob Panaro, Senior Vice President and Chief Operating Officer at Saint-Gobain.

Newmark Executive Managing Director Craig Scheuerle referred the GCS team for the Saint-Gobain contract.

About Saint-Gobain
Saint-Gobain designs, manufactures, and distributes materials and solutions for the construction, mobility, and industrial markets. Developed through a continuous innovation process, our integrated solutions provide sustainability and performance in daily life, addressing the renovation of public and private buildings, light construction and the decarbonization of construction and industry. In this way, we contribute to reducing carbon emissions, leveraging resource efficiency, and increasing circularity. More at https://saint-gobain.com.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. Newmark generated revenues of approximately $2.7 billion for the year ending December 31, 2022. Newmark's company-owned offices, together with its business partners, operate from approximately 180 offices with nearly 6,700 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the effects of the COVID-19 pandemic on the Company's business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark's Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.

View original content to download multimedia:https://www.prnewswire.com/news-releases/newmark-secures-global-corporate-services-contract-with-construction-leader-saint-gobain-for-its-north-american-affiliates-301793288.html

SOURCE Newmark Group, Inc.

FAQ

What is the recent contract secured by Newmark?

Newmark has secured a long-term contract with Saint-Gobain to provide Global Corporate Services for its North American affiliates.

How large is the portfolio covered by the Newmark and Saint-Gobain contract?

The contract covers a portfolio of 38 million square feet of office, distribution, and manufacturing space.

What are the financial implications of the Newmark contract with Saint-Gobain?

The contract aims to help Saint-Gobain lower occupancy costs and increase operational efficiency.

What revenue did Newmark generate in 2022?

Newmark generated approximately $2.7 billion in revenue for the year ending December 31, 2022.