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The case for managed services at portfolio scale gets a concrete datapoint: Newmark Group (Nasdaq: NMRK) has been awarded a national property and project management assignment for 601W Companies' U.S.
office portfolio, covering more than 21 million square feet. The announcement establishes the scope of the assignment; its financial terms are not disclosed.
The shape of the assignment The contract covers both property management and project management across 601W Companies' U.S. office holdings, with Newmark operating on a national basis.
At 21 million-plus square feet, the portfolio is large by any standard.
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