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Newmark to Acquire Dallas Brokerage Firm as it Expands Texas Footprint

Acquisition of Jackson Cooksey to Bolster Newmark's Service Offerings, Market Coverage in the Region
June 29, 2018
Pictured from left: James Cooksey, president and founder of Jackson Cooksey, and Neal Golden, president of the Texas region at Newmark.

After more than a year of speculation in the Dallas real estate community, New York-based Newmark Group Inc. has put together a deal to acquire a North Texas brokerage firm in hopes of expanding its global corporate services platform.

Dallas-based Jackson Cooksey Co., a firm known for its corporate tenant representation work, will help bolster Newmark's service offerings and expand market coverage, said Barry Gosin, chief executive officer of Newmark Group (NASDAQ: NMRK).

"Specifically, the Jackson Cooksey acquisition expands [Newmark's] corporate tenant advisory services for office and industrial users throughout Texas," Gosin said, in a statement.

Newmark and Jackson Cooksey did not immediately respond to emails and phone calls for interview requests.

James Cooksey, who founded the 36-year-old real estate brokerage in Dallas, will join Newmark's Texas office as vice chairman and president of tenant representation in the Lone Star state.

Texas has been targeted as a growth market for Newmark, and this acquisition will help the firm provide more "client-centric real estate services," said Neal Golden, president of the Texas region for Newmark.

Cooksey said Newmark's mission and values fit perfectly with Jackson Cooksey's customer-centric corporate tenant focus and his personal vision of providing, "best-in-class real estate strategies and solutions, while maintaining the highest standards of honesty, integrity and commitment."

In addition to a Dallas office, Jackson Cooksey also has offices in Houston, Austin and Denver, with a total of about 70 real estate professionals.

Jackson Cooksey isn't the only Dallas player that has been linked to Newmark. The now publicly traded real estate brokerage also has some ties to former National Football League Hall of Famer, Emmitt Smith. Smith, who last year left the commercial real estate firm that bears his name to explore new opportunities, helped ring in the launch of the initial public offering of Newmark in December 2017. At that time, a spokeswoman for Smith said there was no official partnership to announce to the public.

With the Jackson Cooksey acquisition and an ever-expanding business in Dallas, sources say that Newmark could be looking for a new Dallas office to get everyone in one North Texas office in the future. Newmark currently has an office on the 13th floor of Chateau Plaza along McKinney Avenue in Dallas' Uptown neighborhood.

Candace Carlisle, Dallas-Fort Worth Reporter  CoStar Group   
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