June 24, 2024 10:00 AM
Newmark announces that Jay Booth, MAI, CRE, has joined its Valuation & Advisory (V&A) practice as Senior Managing Director, Retail & Regional Malls Specialty Practice Co-Leader and West Coast / Pacific Northwest Market Co-Leader. In his role, Booth will provide innovative valuation services to a diverse range of clients, including commercial banks, developers, corporations, individual property owners, public agencies, insurance companies and law firms.
Booth, alongside Newmark’s Senior Managing Director and Retail & Regional Malls Specialty Practice Co-Leader John Mackris, MAI, MRICS, CCIM, will lead a team known for handling some of the most complex retail assignments in the world. The team specializes in a broad range of retail properties, including super-regional malls, lifestyle centers and community shopping centers.
As Market Co-Leader for the West Coast / Pacific Northwest region, Booth is responsible for spearheading business development efforts, recruiting top-tier valuation professionals and driving exceptional client service in Alaska, Oregon, Washington and Hawaii with Chris Mealy, MAI, MRICS, ASA, and in Northern California with Robby Perrino, MAI, CRE, CCIM.
“Jay Booth is a name synonymous with expertise and leadership in the industry, and I was so fortunate to watch him evolve into one of the most in-demand mall appraisers in the industry,” said John Busi, MAI, FRICS, President, Newmark V&A. “He’s a true leader and one of the nicest people I know. It’s been one of the great pleasures of my career to work alongside Jay.”
“I am thrilled to join Newmark, a firm increasingly known for its emphasis on empowering its top talent,” said Booth. “By collaborating with some of the industry’s leading experts, many of whom I have had the honor of working with previously, I am set to contribute to both the enhancement of Newmark V&A’s esteemed Retail & Regional Malls specialty practice as well as its practice in the West Coast / Pacific Northwest, championing growth initiatives and deepening our connections with clients.”
Based in Portland, Oregon, Booth has appraised or consulted on over 450 mall assignments in almost every state. With more than three decades of experience, his previous roles at other leading companies and his significant achievements, such as managing high-value deals and large projects, have contributed to his market reputation. Prior to joining Newmark, Booth served as Senior Managing Director of Valuation & Advisory at Cushman & Wakefield.
The addition of Booth strengthens Newmark V&A’s Retail & Regional Malls specialty practice, further bolstering the firm’s cohesive retail services platform and its business offerings. As part of its larger expansion strategy to scale service offerings, Newmark has grown its retail platform with the acquisitions of RKF in 2018, Harper Dennis Hobbs in 2019 and Open Realty in 2022, the industry-leading North American retail real estate advisory firm with an extensive national and global top-tier client roster.
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ended December 31, 2023, Newmark generated revenues of approximately $2.5 billion. As of March 31, 2024, Newmark’s company-owned offices, together with its business partners, operate from approximately 170 offices with 7,600 professionals around the world. To learn more, visit nmrk.com or follow @newmark
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