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NGKF Adds Strength in Excess Space Buy

NEW YORK CITY—In a move to bolster its corporate services business, BGC Partners' Newmark Grubb Knight Frank has just announced plans to acquire Excess Space Retail Services Inc.

By Alexandra Schonfeld | Updated on May 18, 2015

NEW YORK CITY—In a move to bolster its corporate services business, BGC Partners‘ Newmark Grubb Knight Frank has just announced plans to acquire Excess Space Retail Services Inc. Further details of the transaction, including the purchase price, were not disclosed. BGC did not return calls for comment by press time.

Excess Space provides real estate disposition, lease restructuring and lease renewal services, as well as related valuations for retailers nationwide. This acquisition is expected to enhance and perpetuate growth opportunities for both parties. “Excess Space is admired for its extensive disposition and lease restructuring experience,” says Michael Ippolito, chairman of Global Corporate Services at NGKF. “It works with top retailers across the nation in critical business situations, offering invaluable services that can be scaled to new clients. We are confident that the acquisition of Excess Space will enhance our business, strengthen the services within our global Retail platform, and bring value to our clients.”

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