Newmark Cornish & Carey has always responded to client requirements and market opportunities driven by demand. From its origins in leasing and selling office and retail space near Palo Alto, the company expanded its brokerage services over the years to encompass all commercial property types. Similarly, the firm has grown by broadening its service offerings. The concept of “corporate services” was significantly enhanced when the firm launched its Global Corporate Services group.
NGKF Capital Markets was formed to provide financial services and access to capital markets. The retail industry has become so specialized that it requires a dedicated group of professionals with unique business skills to succeed, so the firm started a Retail Division. In 2008, the company created a Life Sciences practice group to focus on this specialized and emerging market sector. In 2011, the company launched a Wine Services Group to address the unique property requirements to buy or sell vineyard land and wineries, as well as addressing the production, storage, and distribution needs for the wine industry. By listening to its clients, Newmark Cornish & Carey will continue its legacy of meeting challenges with solutions and provide best-in-class services for each enterprise engaged by the company.
Global Corporate Services
Global Corporate Services provides comprehensive, objective and creative solutions for companies and organizations with multiple real estate assets and facilities. We frequently work on a national and international basis, providing counsel and process management services to support an organization's overall business strategy.
Several team members are former corporate real estate employees of national companies and many hold advanced degrees in law, accounting and architecture. This gives us an understanding of how corporations handle real estate functions and the role real estate plays within the organization. It also gives us a better understanding of the level of service and commitment needed for today's sophisticated occupiers.
Since the year 2000, Global Corporate Services has managed clients' facilities to their benefit. We have reduced costs, improved service delivery and provided them more time to focus on their core business. Our services include advanced Strategic Planning, Transaction Management, Financial Advisory, Workplace Solutions, Energy Audits, Property Tax Services, Construction/Project Management, Facilities Management, Outsource Staffing, CAM Audit services and Portfolio Administration.
Our ultimate goal is to help you create a positive and healthy work environment for your employees while reducing overall operating costs and improving space efficiency. Effectively meeting employees' needs and creating a user-friendly workspace is essential to employers that want to attract and retain talented staff while leveraging the bottom line.
World-class service, delivered locally
Our experienced professionals provide real estate expertise to corporate clients or large organizations, which generally have more than one location or base of operation. We help clients develop and execute real estate plans that meet their business or operational needs and link that with our world-class LOCAL services.
Strategy first, process second
For each client, we gather our experts to develop a real estate strategy inline with the organizations' business goals. Then we develop a process that makes the strategy work.
We will deliver these outcomes:
• Saving money in operating costs
• Evaluating where leases could be more effective for the organization
• Becoming the on-site support for all real estate operations issues, as needed
• Acquiring or disposing of real estate to best support the business objectives
Real estate becomes less work for the internal staff. With most of our clients, we become an on-site business partner who can evaluate the right opportunities, challenges and create innovative solutions. With all of our clients, we provide counsel at all levels of the real estate cycle and ensure your real estate goals meet your business goals.
Both leadership and teamwork
With an average of 20 years experience in real estate settings, the Global Corporate Services team leads both from individual experience and the experience of our many exclusive partners, all of whom represent the best and brightest in their industry. Together, the team we assemble to address your particular needs will be of the highest caliber and focused on your particular need. For more information regarding the firm's Global Corporate Services Group, please contact:
A CAM audit is a systematic process comprised of the examination of all documents associated with a tenant's lease, invoices and other correspondence from the landlord, as well as data from other sources to determine whether charges assessed by the landlord under a tenant's lease have been proper. A CAM audit is also commonly referred to as a Rent Audit, a Lease Audit, an Escalation Expense Audit, Lease Compliance Consulting, or a Lease Review.
We offer two attractive project management alternatives, At Risk Project Management, and Traditional Project Management:
Energy Audits Project Your Business Against Rising Energy Costs
Get Guaranteed Savings or the Audit is Free
A professional Energy Audit from Global Corporate Services * can help you find energy savings that will more than pay for the changes we recommend. In fact, we never undertake an Energy Audit unless we believe it will uncover enough savings to pay for the audit and all changes within at least two years. If our engineers don’t find those savings, you pay nothing for the audit. It’s that simple. And that fool proof.
Our Energy Audit report includes recommendations for correcting each problem we find, complete with itemized costs and guaranteed payback projections. Armed with this detailed audit, you can focus in on just what you need to do. It may be as simple as performing some needed repairs. Or you may actually need an entirely new system. Either way, your decision can be based on factual technical and financial information.
* Provided through our Alliance Partner, Comfort International.
Greenspan Recommends Energy Cost Reduction
“When choosing capital projects, businesses in the past could mostly look through short-run fluctuations in oil and natural gas prices to moderate prices over the longer haul. The recent shift in expectations, however, has been substantial enough and persistent enough to bias business-investment decisions in favor of energy-cost reduction.”
Alan Greenspan - April 5, 2005
Former Federal Reserve Chief
Data Centers as Energy Hogs
“Per square foot, the data center consumes 10 to 15 times more energy than an office space."
Bill Dunckey, Senior Project Manager
PG&E Customer Service
Our facilities management team* is not only skilled at efficiently managing facilities, but commonly finds 20-30 percent savings in the operations in the first year of a contract.
We partner with our clients to improve operating efficiencies for their leased or owned facilities that range in size from 30,000 square feet to more than two million square feet.
Our focus is on reducing costs, enhancing quality and improving processes for single-user or owner-occupied facilities of all types. The employees who staff these facilities are experienced experts who have been in a corporate setting and who recognize the importance of quickly implementing best industry practices.
Our team provides strategic facilities counsel and management services to meet our clients' business goals. We help clients achieve the highest level of efficiency for their facilities by enhancing the quality of workspaces and improving processes.
We do this through commercial real estate expertise, best practices, operating procedures and technical know-how. Our specific services include facility management, maintenance and consulting services.
Led by a team of 55 facility management experts, we manage the overall day-to-day operations of a facility, including moves-adds-changes process, routine building maintenance, vendor contract administration and technical support. We also provide finance and administration services such as annual budgeting, staff training, financial reporting and planning.
A team of maintenance technicians comprises our facility maintenance team. These highly skilled employees provide the technical expertise to keep your facility operating efficiently 24-hours a day, 7-days a week.
Our maintenance services range from groundskeeping to heating, ventilation and air conditioning (HVAC). Professional engineers are licensed to perform standard HVAC services such as preventive maintenance programs, energy management system operation and general repair on boilers, heat pumps and rooftop units.
We offer incentive based contracts centered on continuously providing value through costs savings and work place improvements for our client.
* Service Provided by United Properties, an exclusive Alliance Partner of Newmark Cornish & Carey.
In today's complex business environment, real estate decisions can have a dramatic impact on a company's financial statements affecting cash flow as well as profits and Earnings Per Share. For this reason, it is absolutely critical for companies to understand the financial implications of a proposed real estate decision prior to its execution.
Global Corporate Services' Financial Advisory Group can provide creative real estate solutions to meet our client's financial and operational objectives.
Our process entails understanding client business strategy, identifying and evaluating all available alternatives and then structuring and applying sophisticated financial analytics to create a solution that supports the company's core business. Services
• Lease Comparison
• Lease Renewal / Restructuring
• Owned-Property Leveraging / Restructuring
• Synthetic Lease and Other Hybrid Financing Alternatives
• Asset Valuation
• Lease vs. Own Analysis
• Sale / Leaseback Options
• Ground Lease Analysis
• Build-to-Suit Analysis
• Hold vs. Sell
• Complex Strategic Restructuring of Large Portfolios
• 1031 and Other Tax-Deferral Alternatives
With intensifying global competition and focus on short-term profits, companies tend to focus on the core activities they do best. Consequently, supporting internal business functions are now often outsourced, enabling the company to cut fixed costs and optimize its balance sheet.
Newmark Cornish & Carey can assist you to determine the best outsourcing strategy, tailored to your specific needs by utilizing the full breadth of our services, including transaction management, strategic advisory, financial advisory, portfolio administration, space planning and architecture facility development. Each position is filled with salaried professionals, managed by a seasoned team of real estate veterans. While some customers may be concerned about "losing control" under such circumstances, the firm has found that outsourcing should be seen as a partnership rather than a client supplier relationship. Continuous benchmarking, client surveys and rolling strategy reviews allow the firm to provide clear deliverables, reporting and cost reductions.
• Individually-tailored programs to fit the operational needs of each client
• On- or off-site staffing from one to one hundred professionals
• Dedicated Account Director
• Strategic Advisory
• Financial Advisory
• Portfolio Administration
• Architecture, design and space planning
• Relocation and move coordination
Costs for outsourcing can be offset through a combination of fee reduction, commission sharing and client contribution. Newmark Cornish & Carey structures its pricing based on the specific services required to meet the unique needs of each client.
One of the most important tasks in Corporate Real Estate is the organization and documentation of leased and owned property information. This not only includes managing databases of critical information, but the payment of rent and other expenses. Maintaining this information is a tedious task and is often overlooked for this reason. While many Corporate Real Estate Departments choose to purchase software and hire one or more employees to perform this function, many quickly realize that employee retention and continuity are impediments to continued success.
Newmark Cornish & Carey provides a complete and fail-safe Portfolio Administration service that completely eliminates the need for in-house functions. All leased and owned-property detail, as well as all accounting information, benchmarking, and management reports are available via any modern web browser through our Secure Client site..
• Abstracting new or existing leases and owned-property documents
• File "clean up"
• "Desk" Audits
• Full Audits
• Data entry and data migration (from existing databases, if needed)
• Data maintenance, including critical date tracking
• Scanned documents kept "on-line" for easy recovery
• Monthly CAM and other charge reconciliation
• Monthly CAM charge challenge as needed
• Complete bill payment and reconciliation
• Benchmarking and other management reports available
• Compete monthly reporting via the Web
Pricing Newmark Cornish & Carey will provide a complete assessment of your needs and tailor a pricing plan that is competitive and generally based on the number of documents processed. There are no software charges and no hidden costs, and our per-unit costs are the lowest in the industry.
Property Tax Consulting
Business cycles seem to shorten with each passing year. Real estate values that might have shifted from high to low every ten years in the past, now may rise and fall dramatically in only a twelve month cycle.
This instability creates wide variances in property tax valuations, creating the potential for over-valuation by assessing municipalities, which results in higher property tax bills for both owners and tenants.
Unlike other property tax consultants, Newmark Cornish & Carey offers a "one-stop" solution to any property tax challenge. Each matter is handled in-house from the initial analysis through the administrative appeal hearing. If court action is required - whether at the trial or appellate level - (or even if the appeal hearing itself is contentious), our affiliation with a San Francisco firm of experienced tax lawyers with a history of successes in property tax litigation, enables us to efficiently manage the challenge to completion. The firm always evaluates each property tax assignment from both a technical and legal perspective; as a result, even if a challenge does not result in litigation, we are able to maximize the benefit of any applicable legal issues.
In order to effectively represent clients with multi-state holdings, we also have entered into teaming arrangements with two highly-respected nationwide property tax consulting firms, thus enabling the firm to secure the best results irrespective of a property's physical location.
Our "tax team" is comprised of two professionals with in-depth expertise including a former "Big 6" accounting firm partner-in-charge of Western Region State & Local Tax and co-Director of National Property Tax Consulting and a California Tax Attorney who is a partner in a law firm with a proven history of delivering results to owners and Lessees of commercial property, particularly in California.
Past experience with commercial property clients has shown that the typical scope of service will include one or more of the following assignments:
• Filing annual appeals seeking reductions in valuation, i.e., "Prop. 8" appeals.
• Negotiating, securing and challenging Supplemental Assessments resulting from the client's recent acquisition(s) or new construction.
• Providing necessary information for the client's annual budget preparation.
• Developing a databank of tax-sensitive information concerning all or certain of a client's properties.
• Performing due diligence investigations with respect to recently-acquired (or to be acquired) properties.
• Equity Office (Cornerstone & Spieker merger)
• Embarcadero Center - Boston Properties
• American Industrial Properties REIT
• The Irvine Company
• Essex Property Trust
• Federal Reserve Bank of San Francisco
Pricing is dependent on the assignment type, duration and magnitude. Generally, our fees will be a combination of fixed fees, retainers and percentage-of-recovery.
"Strategic Planning" can be defined as "the intelligent application of physical and financial information for the optimum positioning of real estate assets." In short, Strategic Planning is not a single task, but the combination of many. Ideally, a Strategic Plan would commence with a full understanding of a client’s current physical portfolio including adjacencies, workplace solutions, stacking and locational alternatives as well as human resource, cost of living and business incentives. Additionally, planned real estate dispositions and consolidation would be investigated as well. This would be followed by a financial review of alternatives for each effected property or group of properties in concert with the constraints of previous commitments and the need for new facilities or the disposition of others. Finally, these data would be matched to the client’s overall EPS and business plan goals and a recommendation would be made.
While the proceeding sequence is ideal, we understand that few companies can devote so much energy to their real estate portfolio. Consequently, many of our clients ask us to perform a portion of this strategic process, allowing them to optimize particular projects. However, our Strategic Planning group is completely able to perform all of the following tasks if called upon.
• Business Plan Integration
• Merger & Acquisition Due Diligence
• Business Unit Master Planning
• Development Planning & Implementation
• Strategic Occupancy Analysis
• Location and Incentive Consulting
• Strategic Programming
• Investment and Repositioning
• Workplace Alternatives
• Demographic Studies
• Standards Development
• "Regional Office Planning"
Newmark Cornish & Carey offers our clients a fully integrated, multi-disciplinary approach that provides a far more comprehensive service than the typical broker. Whether you choose to lease space or occupy real estate as an owner through outright property acquisition, structured leasing or sale/leaseback arrangements, the firm can support your real estate objectives.
Our approach to leasing is comprehensive and thorough:
Selecting the right real estate and negotiating the most favorable lease terms are complex activities filled with pitfalls that can negatively affect key business metrics like P/E ratios, EPS and share price. Successful transaction execution requires in-depth market knowledge, real estate expertise and the skills to successfully negotiate with landlords and owners, supported by sound planning and project management execution.
Selecting quality property in today's ever changing marketplace is a challenging task. Newmark Cornish & Carey provides clients with the knowledge and expertise to carefully evaluate an office, industrial, warehouse, apartment or retail property nationally or internationally. Purchasing real estate for your company to occupy is a multi-faceted decision, and we aim to provide you with all the tools necessary to best fit your business needs including:
• Hold vs. Sell Analysis
• Exchange Services
• Marketing Services
• Property Valuation
• Needs Analysis
• Trend Analysis
• Portfolio Planning
• Asset Evaluation
If you should require more comprehensive services, Newmark Cornish & Carey also offers:
• Facilities Management
• Property Tax Consulting
• Financial Advisory
• Project Management
• Outsource Staffing
• Cost Reduction
• Portfolio Administration
Key factors at play in the world economy continue to affect the Bay Area including globalization and outsourcing, recruiting and retaining talented knowledge workers, improving productivity through process improvement, and effective deployment of information technology. Now, as companies continue to search for competitive advantage, a strong drive for integration and a more holistic approach to addressing the changing business landscape is gaining momentum. Getting the most out of fixed assets, especially real estate is a key part of this effort. Integration creates the opportunity to explore a fresh set of questions about the work environment. Since the key elements of any successful enterprise – people, knowledge, technology, process and practice – all play themselves out in physical space, workplace strategy & design is increasingly providing the platform for vital organizational dialogue.
Newmark Cornish & Carey Global Corporate Services group is partnering with Emergent Solutions, Inc. to create a clear path for our customers to begin addressing workplace effectiveness in a more comprehensive way. This means providing a workplace design solution that combines professional knowledge and capabilities previously viewed as separate.
Physical space is not neutral to workplace effectiveness; it can support or hinder the ability of people to achieve strategic objectives. Interior design and office layout should be based on key organizational social practices and process flows. The goal is to bring together the more intangible socially driven elements of work effectiveness with concrete physical design. This means that a large corporate campus can have many differently configured spaces according to the kinds of work being done. For example, the environment for creative work done by engineers, chemists, marketers and customer service providers may be designed very differently to reflect specific processes and/or desired outcomes. This suggests the emergence of smaller scale space design targeted for particular kinds of work. These smaller, more adaptive spaces must be easily altered as business conditions warrant and this is reflected in the development (by Steel Case, Haworth, Herman Miller, et al) of architectural elements and modules designs that are far easier to assembly, alter or remove.
The Path to Organizational Alignment
Integration of physical design with more social and process oriented aspects of work is no easy task. The challenge for many of our existing and potential tenants is to effectively scope out and manage projects that explore workplace effectiveness and result in reconfigured space. Integrating and crafting work processes and workplaces is an active and collaborative exercise that requires the involvement of multiple stakeholders including workplace inhabitants, organizational leaders, technologists, corporate real estate, and designers. We bring the most current knowledge of workplace design to the table through our best-in-class partners - along with expert ability to engage multiple stakeholders and facilitate the design process. We stand ready to engage with our customers to leverage physical space for strategic advantage.
How is a Workplace Design Project Organized?
Workplace design project require very heavy stakeholder involvement at all stages of the project. In this sense, they are truly collaborative endeavors.
Newmark Cornish & Carey’s Sustainable Building Practices discipline and business services was formed to assist developers, property owners and tenants in evaluating their participation in the greenbuilding movement. What began a decade ago as a movement toward “sustainability” in the building and construction industry has grown into the mainstream in every way – through our consciousness, mass media and business practices. Leading edge companies like Adobe Systems, Google and Cypress have implemented sustainable practices and proved its worth. What was once “an experiment” has evolved into tangible results; significant returns on investment have been demonstrated with implementation of sustainable practices. Add intangible benefits to ROI: employee recruitment and retention, increased productivity and health benefits, reduced sick time, and lower health insurance costs and medical fees. Then factor in employees with sunnier dispositions because they have more natural light in their workplaces, and America’s business operators have achieved a formula for success by building and occupying eco-environmentally friendly offices, homes and related structures.
The proverbial “tipping point” has been reached with state and local legislation beginning to mandate green building. Significantly, this critical juncture was achieved because of market demand, organizational and corporate demand, and individuals insisting upon sustainable practices.
The Leadership in Energy and Environmental Design (LEED) Green Building Rating System™ promotes and rewards sustainable green building and development practices through a standardized rating system. LEED is a program of The U.S. Green Building Council (USGBC), a non-profit organization committed to expanding sustainable building practices. More than 15,000 building industry organizations are working to advance the environmentally-responsible construction and retrofitting of profitable and healthy places to live and work. USGBC includes building owners and end-users, real estate developers, facility managers, architects, designers, engineers, general contractors, subcontractors, product and building system manufacturers, government agencies and nonprofits.
Sherry Gubera, Senior Advisor with Global Corporate Services Group in the Santa Clara office, is one of three brokers in the Bay Area to have earned a LEED Accredited Professional (AP) consultant designation. As a LEED-AP, Ms. Gubera is certified to advise clients who are seeking eco-friendly space as well as building owners who want to market green projects. LEED Professional Accreditation recognizes those professionals with the knowledge and skills to successfully steward the integrated design and certification process. LEED-APs, through rigorous training and examination, must demonstrate a comprehensive understanding of green building practices and philosophy to assist clients in navigating LEED requirements, resources and processes.
The process of reconfiguring offices in any size company can be complex and time consuming. With most companies now using open space planning in some form, offices tend to be reconfigured and departments moved with far greater regularity than in the past, stretching a company’s internal resources and bloating budgets.
Our “Churn Management” solutions* can consist of an either full-time, or part-time, on-site project manager(s) that can handle all the logistics of reconfiguring a department, or closing an office. An on-site project manager frees up your time to focus on myriad other tasks demanding your attention.
Need help coordinating subcontractors?
Your project manager will take care of project timeline development, manufacturing tracking and coordination, and product, delivery and installation scheduling.
Overwhelmed by site coordination logistics?
Your on-site project manager will handle pre-installation site inspections, electrical/data access point coordination, building management coordination, furniture installation management, delivery and installation access mapping, on-site delivery and installation supervision, and field change order development and coordination.
Bringing in a project manager is like instantly getting a highly-trained, trusted, hardworking employee, without the costs of long-term commitment. You can concentrate on running your business while your on-site project manager skillfully handles workplace logistics.
*This service is offered through our Alliance Partner, One Workplace On-Site Services
NGKF Capital Markets
NGKF Capital Markets provides client-focused real estate advisory services through world-class intellectual resources across the globe. Bringing strategy and implementation together, our mission is to design and execute customized solutions that create value for our clients in support of their business and financial objectives.
San Francisco western U.S. Headquarters
The Institutional Investment Sales Team gives private and institutional investors the ability to access a single resource to leverage equity and debt markets, 1031 exchanges, traditional buy/sell agreements or structured finance transactions.
Debt and Equity Placement
The Debt and Equity Placement team directly leverages all areas of commercial real estate finance including permanent, bridge, mezzanine, construction, and sale/leaseback debt, along with joint venture equity for office, industrial, flex/R&D, retail, and multifamily real estate assets.
Our relationships include life insurance companies, pension funds, investment banks/CMBS, merchant banks, Fannie Mae/Freddie Mac, opportunity funds and high yield debt funds. With lending and legal backgrounds, the Debt and Equity Placement team has closed over $6 billion in structured debt and equity placements.
NGKF Capital Markets is a leader in Northern California investment property sales. With more than 200 leasing specialists covering every submarket in the region, the firm’s local knowledge of market fundamental enables the Investment Group to properly position assets for sale or astutely guide investors on the buy side with the vital information necessary to complete favorable results for its clients. The company’s Marketing Services Group provides leading edge marketing strategies, support and superior collateral materials in every assignment undertaken by NGKF Capital Markets.
Apartment Advisors delivers unparalleled advisory and transaction services to the multifamily investment community serving owners, institutions, developers and investors with expertise in the acquisition and disposition of apartment buildings of all types and sizes. The group's innovative approach and extensive knowledge of finance, housing, and employment trends is complemented by the highest standards of professionalism and integrity in the brokerage industry.
ARA, A Newmark Company
ARA, A Newmark Company (ARA Newmark) is the largest full-service investment advisory firm in the nation that focuses exclusively on the brokerage, financing and capital sourcing of multihousing properties including conventional, affordable, distressed assets, notes sales, seniors, student & manufactured housing and multihousing land. ARA Newmark comprises the country's top investment professionals who leverage a unique and fully integrated cooperative business platform of shared information, relationships and technology driven solutions. ARA Newmark's unified enterprise approach ensures that clients are delivered the broadest asset exposure, effective matching of buyers and sellers, and the shortest transaction timeframes in the industry. The combination of global resources, unparalleled market expertise and nationwide presence in the multihousing marketplace has resulted in an annual production volume of well over $14 billion in sales in 2015.
For detailed information on ARA Newmark's extensive multihousing investment services, visit www.aranewmark.com.
A Competitive Retail Team
With over 25 years of experience in the commercial retail market, Newmark Cornish & Carey Retail has a deep understanding of consumer shopping orientation, trends, habits, and preferences enabling our brokers to comprehend and execute client assignments from beginning to successful completion.
Our retail professionals have built excellent relationships with retail real estate owners and developers, as well as with a host of highly regarded national retail brands in multiple product categories. This market reach gives us access to nearly every listing assignment and many tenant site selection services. It also provides a thorough understanding of the retail markets throughout Northern California.
Our retail investment group assists institutional and local property owners in pricing and disposition of Northern California assets, including net leased investments and sale/leasebacks. Our investment professionals are fully qualified to appraise and value properties, strengthen the disposition process, and successfully sell retail real estate.
Through Newmark Grubb Knight Frank’s global platform, Newmark Cornish & Carey’s Wine Services has representatives in every wine producing region in the world. Wine Services provides marketing, buying, selling and leasing of wineries and vineyards, including production, warehousing and distribution facilities. For their clients, they offer site-selection services, strategic planning, financial analysis, and broker opinions of value.