Newmark Grubb Knight Frank will open an office-leasing branch in Brooklyn, with DoBro and Dumbo the most likely locations. Whitten Morris, formerly of Cushman & Wakefield, will take charge of the new office.
Newmark would be the first major commercial firm to set up a leasing shop in the borough. Cushman inherited a Brooklyn office when it purchased Massey Knakal, but that office is dedicated to sales.
“We wanted to be there and be the first to open an office, and I think we’ll be the dominant player,” David Falk, Newmark’s New York area president, told Crain’s. “We think there’s an opportunity for a brokerage firm that understands the way business is done in Manhattan to bring that sophistication and market knowledge to Brooklyn.”
Where new office development goes, the city’s big commercial real estate service companies follow, even if it means crossing the East River.
The move highlights the burst of activity in Brooklyn’s office development market, with major projects like Industry City and the Brooklyn Naval Yard redevelopment in the pipeline. [Crain’s] – Ariel Stulberg