DENVER—Newmark Grubb Knight Frank will expand its presence in Colorado with the opening of a new office in Colorado Springs. The firm has hired El Paso County market leaders Kent Mau, Brian Wagner and Mark O'Donnell Jr. to open the new office.
“The Denver commercial real estate market is firing on all cylinders, and with the Colorado Springs market continuing to rebound, this is an opportune time to extend our focus to that marketplace,” says EVP and regional managing director Kevin McCabe. “Increasing our commitment and presence are large priorities, and as experienced professionals in the southern Colorado market, Kent, Brian and Mark are ideally suited to lead this expansion.”
The Colorado Springs office market totals approximately 27.8 million square feet, including eight million square feet of class A space. Current overall vacancy of 14.6% is down by more than two percentage points year-over-year, and the market's growing job stabilization is expected to return the office market to pre-2008 numbers in 2014, says the firm.
“NGKF's resources, international platform and entrepreneurial concentration will enable our team to optimally serve our clients as the office market continues to improve,” says Mau. “Last year saw increased absorption—double that of 2012—with fewer users vacating or downsizing, and increased investment activity. We expect that momentum to continue in 2014.”
“Colorado Springs is positioned for a break-out year, much as Denver was at the beginning of 2013,” says Mau, a more than 30-year industry veteran of office brokerage, who joins NGKF as executive managing director.
McCabe adds that this has been a year of impressive growth. “Locally, while the increase in transactions and revenue, nearly 30% per broker, is reflective of the strengthening market, the principal drivers are the maturation of our expanded broker talent and the depth and strength of our national platform.”
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
