Kansas City, MO (March 3, 2022) — Newmark Zimmer has completed the successful disposition of the 340,000 square foot office building in the Kansas City Central Business District located at 500 E 8th Street on behalf of Maxus Properties. The transaction was completed by the Newmark Zimmer Midwest Capital Markets team of Executive Managing Director, Principal Michael L. VanBuskirk, SIOR, CCIM, CRE, Senior Managing Director, Principal Chris S. Robertson, CCIM, Managing Director John M. Hoefer and Financial Analyst/Transaction Manager Raegen C. Root. The Buyer was Washington, D.C. based, The Bernstein Companies who is currently finalizing an office to residential conversion of the former Mark Twain Tower in Downtown Kansas City. “We are excited to expand our presence downtown. Our acquisition of the former AT&T Building is a great example of our long-term focused investment strategy redeveloping historic office assets into quality apartment buildings,” said Phil Aftuck, Director of Investments at The Bernstein Companies.
About Newmark Zimmer
Newmark Zimmer is a full-service commercial real estate company providing a range of services including sales and leasing, investment sales, property and facilities management, global corporate services, owner’s representative services for public and private development projects, and public-sector consulting. Its staff boasts an array of experience in design, construction, valuation, finance and legal matters.
Regularly recognized as one of the top brokerage firms in the region, Newmark Zimmer manages more than 13.5 million square feet of office, medical, industrial and retail property, and serves as corporate real estate advisor for an assortment of local, regional, national and international companies. For further information, visit nmrkzimmer.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 in excess of $2.9 billion for the year ending December 31, 2021. Newmark’s company-owned offices, together with its business partners, operate from approximately 160 offices with over 6,200 professionals around the world.
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 ForwardLooking 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.
