Newmark Acquires Retail Advisory Business, Open Realty

DALLAS, TX – Newmark Group Inc. has acquired the North American retail real estate advisory firms Open Realty Advisors and Open Realty Properties.

Upon the acquisition, which closed today, Open Realty joins Newmark’s retail services business line.

Specializing in tenant strategic planning, site identification, lease negotiation, project administration, construction and design facilitation, portfolio maintenance and site disposition, Open Realty additionally offers project-specific expertise in acquisition consultation, project design and site development, merchandising, project leasing and asset management, and overall market and financial analysis.

“This acquisition underscores Newmark’s commitment to brick-and-mortar retail—a foundational and enduring component of the global commercial real estate landscape,” states Newmark CEO Barry Gosin. “Providing top-level services to retail clients is more important than ever as the sector plays a critical role in revitalizing the economy. Acquiring Open Realty, an authority on brand-building in retail real estate, is Newmark’s next move to being the most knowledgeable, well-connected retail advisory firm in the US and beyond.”

Open Realty’s founders will assume leadership roles within Newmark and will work to expand the company’s global retail footprint.

Open Realty’s Mark Masinter, who leads macro strategy and business development will assume the role of chairman of global retail at Newmark. Open Realty’s Johnny Siegel, who spearheads tenant advisory services and asset management strategies for clients will now serve as president of global retail, and Steve Merkle, who co-leads tenant advisory business endeavors, will join Newmark as vice chairman.

“With over 35 years of experience growing brands, executing roll-out strategies, developing and investing in real estate, both domestic and international, we are honored to have garnered the trust and respect of the very best retail clients and institutional investors in the world at Open Realty,” states Masinter. “Integrating with the Newmark platform—building on the company’s vision and articulating that vision to the retail, restaurant, entertainment and real estate communities—is an exciting, standard-setting venture. We couldn’t be more bullish on the future of retail.”

“Open Realty’s and Newmark’s client-service standards are in perfect alignment, prioritizing thoughtful and deliberate tenant advisory and a holistic approach to real estate,” says Siegel. “We see assignments through the lens of each stakeholder, having worked in every aspect of the real estate process; and the same can be said of Newmark’s breadth and depth of retail services. We look forward to leveraging the infrastructure, technology and collaborative opportunities of an expanded platform.”

The acquisition aligns with Newmark’s expansion strategy to scale its service offerings in key markets, internationally. The firm has recently completed acquisitions, new hires and agreements in global markets, including France, Germany, Poland, Hungary, Hong Kong, Dubai and London.

“When Newmark acquired RKF, we saw the opportunity to combine talents and build the leading retail brokerage practice in New York City,” states Ariel Schuster, Newmark vice chairman. “Acquiring Open Realty accelerates the growth trajectory and national prominence of Newmark’s retail platform. We have worked transactions with and been on the other side of the table from Open Realty for over 20 years; I admire their business and am sure they will be a valued asset to Newmark’s clients.”