Newmark says it signed Salt Lake City-based Mountain West Commercial Real Estate to an alliance agreement that will enable to global firm to expand across the Western U.S.
Under the agreement, Mountain West will operate as an independently owned and operated member of the Newmark Licensee Group and cover major markets in Utah, Idaho, Wyoming, Montana and Nevada. Newmark Mountain West will continue to be led by CEO Nick Wood, Chairman Chad Moore and Vice Chairman Kyle Roberts.
“Newmark Mountain West’s services complement Newmark’s suite of Investor and Occupier Solutions,” said Newmark Chief Operating Officer Lou Alvarado in a statement announcing the agreement.
Newmark Mountain West has been involved in several major transactions in the region, including the sale of a $370 million Amazon industrial portfolio, a 270,000-square-foot industrial lease in Layton, Utah and the $91.5 million sale of the Marriott Courtyard hotel in downtown Salt Lake City.
Newmark formed its alliance with Mountain West as the industrial investment sales market "has continued to build in 2025 following a steady recovery since the second half of 2024," according to a report from CoStar Market Analytics.
In fact, the CoStar report said total transactions completed during the first six months of 2025 doubled the amount in the same period last year and marked the strongest first half figure since 2022. The increase suggests that "investor activity is holding firm despite uncertainty for the broader economy," according to the report.
Newmark Mountain West has nearly 200 employees and offices in Salt Lake City, Ogden, Clearfield, Pleasant Grove and St. George in Utah, as well as in Idaho Falls, Idaho, and Reno and Las Vegas in Nevada.