Financial details of the transaction were not disclosed. Smith Mack has an office in Wilmington.
BGC is a publicly traded real estate services firm.
NGKF CEO Barry M. Gosin said, “Smith Mack has experienced the benefits of the dramatic transformation that has taken place since Newmark Knight Frank and Grubb & Ellis were acquired by BGC Partners. Aside from being a terrific partner that helped us secure a leading position in the Greater Philadelphia region, its desire to join NGKF is confirmation that our expanded platform offers clients the best real estate solutions in the industry.”
Smith Mack’s founding partners Sidney (Sid) Smith, Jeff Mack and Reid Blynn have been named executive managing directors of Newmark Grubb Knight Frank. The team will be accompanied by virtually all of Smith Mack’s existing brokerage and advisory professionals who will work from offices in downtown Philadelphia; Wayne, Pa.; Wilmington; and Marlton, N.J..
Services will include tenant brokerage, ownership representation, investment sales, corporate advisory services, property and facilities management, market research and lease administration, as well as capital markets resources hrough BGC’s relationships with Cantor Fitzgerald and Cantor Commercial Real Estate.
“We are so excited to join with Newmark Grubb Knight Frank,” “The evolution to merge into NGKF was natural because our experience as a partner was highly productive, and was seen as an enhancement by our clients. In addition, the seamless combination of Smith Mack and the talent base that is now NGKF as a result of the Grubb acquisition could not be more synergistic. Our clients will benefit from more robust service offerings and our professionals’ continued personal commitment to their success.”
The Philadelphia region of NGKF is managed by J. Robert Clements, executive vice president and managing director.
More information on BGC Partners, Inc. is available at www.bgcpartners.com.