New York, NY Newmark Group, Inc. has acquired retail specialist Harper Dennis Hobbs Holdings Limited (HDH), a real estate advisory firm based in London.
The acquired business will continue to operate as Harper Dennis Hobbs. The acquisition adds a presence in London for Newmark, a market leader in New York and Los Angeles.
“With every acquisition we look to refine our key service offerings and areas of expertise to meet the diverse and fast-changing needs of our clients who increasingly seek to evolve on a global stage,” said Barry Gosin, Newmark’s CEO. “Acquiring Harper Dennis Hobbs is an essential strategic investment for Newmark as we begin to scale our domestic retail practice to offer a world-wide level of enterprise resources.”
“Our decision to align with another firm required cultural similarity and business savvy for service. Newmark, as a growing enterprise, exceeded our expectation with their impressive platform of retail clients and resources,” said HDH chairman David Harper.
“For more than a decade of client solutioning and collaborative referrals, we have built long-standing relationships with Newmark and its brokers,” said HDH CEO James Ebel. “Newmark’s investment in this dynamic industry provides our business with access to a deeper and diverse network of retail expertise, across borders.”
In 2019, Newmark ranked as the #1 brokerage firm in Manhattan by retail deal volume, outpacing its closest competitor by nearly 40 percent*, leasing over 1.1 million square feet of retail space**, and will now expand its capabilities to service the robust activity of European tenants seeking access to the North American consumer.
Founded in 1993, HDH has experienced consistent organic growth and has become a go-to advisor on tenant-focused real estate advisory services for an extensive collection of blue-chip clients including: Belstaff, Five Guys Burgers & Fries, J. Crew, Louis Vuitton, Samsung, Skechers, Tiffany & Co. and West Elm.
Newmark Group and HDH currently share many client synergies with companies such as Canada Goose, Carolina Herrera, Dylan’s Candy Bar, Columbia, Michael Kors, Peloton, PF Chang’s, Swarovski and Watches of Switzerland. Working with many of the world’s most successful retailers across consumer and lifestyle brands, from international brands to start-up companies, HDH has grown to a headcount of more than 50 people, including 30 brokers and staff.