June 20, 2019
NKF, a subsidiary of the Newmark Group Inc., acquired ACRES, a full-service, commercial real estate services company, headquartered in Salt Lake City. ACRES, which operated as Newmark Grubb ACRES, also has offices in Davis/Weber County, Utah County, Boise, ID and Reno, NV.
Veteran Nick Wood, who has been with ACRES for nearly two decades, will lead the local operation efforts. Founded by Mike Falk, Kyle Roberts, Paul Keyser, Zach Anderson and Steve Condie in 2000, the Utah company employs upwards of 45 broker professionals providing landlord and tenant representation, investment sales and asset management services to nearly 10 million square feet. The focus is on the Utah, Boise and Reno markets.
The acquisition strengthens Newmark Group’s Southwest position, solidifying its share in a key region that is experiencing robust demand for commercial real estate services. As for the acquired firm, “NKF’s platform bolsters our strength across service lines, and is particularly advantageous to our capital markets professionals and clients. We are thriving under the NKF brand,” said Kyle Roberts, CCIM, SIOR.
Pictured: Nick Wood
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