The COVID-19 pandemic has changed the way the commercial real estate sector operates — but it hasn’t changed the core beliefs and business practices that guide a company.
That’s why Alison Lewis, the chief administrative officer at Newmark, feels the company’s rebranding announced this week gives it a new name and new logo — but allows Newmark to maintain the culture and philosophy that has driven the brokerage firm for decades and will guide it moving forward.
“While the COVID-19 pandemic has changed lives in numerous ways, it hasn’t fundamentally reshaped Newmark’s core philosophies,” she told ROI-NJ. “The past seven months have underscored the importance of having a nimble, adaptable approach to business; we continue to prioritize supporting our clients as they navigate commercial real estate decisions in a changing landscape.”
Newmark associates are just supporting their clients differently in the era of COVID, Lewis said.
“The ways in which we interact with the built environment are evolving, which means balancing the required physical attributes of buildings with the human experiences occurring within them,” she said. “Today, businesses around the world are adapting to shifting demands, and that dynamic requires a platform that is focused on solving the problems of the present and future, rather than depending on the approaches of the past.”
Newmark, which announced its new name Monday, said the change reflects a rapid growth (more than 50 acquisitions in the past decade) that has allowed it to form strategic partnerships that have grown the firm’s international reach and services.
Lewis said the growth is the result of a well-implemented strategic plan.
“We’ve spent years investing in our platform’s infrastructure, cultivating a company culture and value system that stands out,” she said. “We’ve taken a deliberate, strategic approach to recruiting and acquisitions of niche market leaders, ensuring that every member of our platform is aligned with our principles of knowledge sharing and partnership.
“Avoiding siloed work, our teams collaborate to share research, data and experience to provide a tailored level of service to our clients that sets us apart.”
The branding also shows the industry that Newmark, formerly Newmark Knight Frank, is positioned to be a strong player in an industry that is moving toward consolidation.
Newmark CEO Barry Gosin said the company’s culture has aided in recruiting and acquisitions over the past year — it brought on 11 people, including six brokers, in September. Company officials said the rebrand is more than an aesthetic change, but something that will fuel the company’s strategy moving forward.
“The unique ideology cultivated at Newmark has attracted top market experts seeking a collaborative and entrepreneurial environment,” he said. “Newmark stands out in the industry for its dynamic culture that embraces technology, champions new opportunities and grows future leaders.
“This rebranding captures the principles, energy and data-driven approach that have further fueled our momentum and provided us with the vision to successfully usher our stakeholders into a rapidly changing future.”
Newmark, which is based in New York, has a heavy presence in New Jersey, where it operates out of a Rutherford office. And, although the company will be known only as “Newmark,” it will continue to maintain its strategic alliance with U.K.-based global real estate consulting firm Knight Frank, both domestically and abroad.
Lewis said the rebranding effort marks a milestone moment in an otherwise tumultuous year.
“Newmark is uniquely positioned to lead, because we embrace the opportunities that come with change and we leverage those to create exceptional outcomes for our clients and for our people, and to positively impact the communities in which we live and work,” she said.
“In addition to being a statement of continued company evolution, this new brand identity tells a story about our core principles and the enduring commitment to ingenuity and adaptability that has attracted so many of the industry’s top experts to our platform.”