NGKF TO ACQUIRE CORNISH & CAREY COMMERCIAL IN NORTHERN CALIFORNIA
SAN FRANCISCO — Newmark Grubb Knight Frank (NGKF) has agreed to acquire Cornish & Carey Commercial, a full-service commercial real estate company based in Northern California. Cornish & Carey currently houses more than 275 brokers. The firm had about $135 million in revenue in 2012.
Cornish & Carey specializes in tenant and landlord representation, investment sales, finance, global corporate services, and property and facilities management. The firm originally partnered with NGKF in 2010. Cornish & Carey will now be referred to as Newmark Cornish & Carey. Its offices are located in Emeryville, Hayward, Marin, Palo Alto, Pleasanton, Roseville, Sacramento, San Francisco, San Mateo, Santa Clara, Santa Rosa and Walnut Creek.
Chuck Seufferlein, Cornish & Carey’s president and CEO, has been named president of NGKF’s Western region. Scott Carey will remain Chairman and general counsel.
The acquisition is expected to close by mid-year. The purchase price was not disclosed. NGKF is based in New York. It is part of BGC Partners.