Newmark Knight Frank is expanding its agency services platform with the creation of a new role, LA agency market leader. Industry veteran Bill Bloodgood steps into the new position, joining the firm as executive managing director. He will focus on expanding and building the agency services and landlord representation platforms at the firm.

"Newmark has a really good investment sales platform lead by Kevin Shannon in Los Angeles, and the company has not been able to capitalize on the agency services and landlord leasing side of the business," Bloodgood tells GlobeSt.com about the expansion. "The impetus to create this role was to develop a team regionally to assist Kevin Shannon and the investment sales platform."

The expansion will focus on talent recruitment initially, as Bloodgood curates a strong team to support Shannon's capital markets business. "The initial goals will be focused on talent recruitment in the region," he says. "We are looking for high quality individuals that have experience in the agency business. This is going to be a small team of high-quality professionals that can deliver landlord services across all of the Los Angeles area."

Bloodgood joins Newmark from CBRE, where he has spent the last 27 years, and made the decision to move because of the enticing opportunity to grow his own team. "I had a great experience and career with CBRE," he explains. "I just felt like there was an opportunity at Newmark that I couldn't get at CBRE to really grow personally. This was a hard decision, but at the end of the day, I felt like the growth potential for me with the investment sales platform at Newmark was something that I couldn't pass up."

As the cycle matures, it is interesting to see companies that take this opportunity to expand. According to Bloodgood, however, this is an ideal time to grow the group. "Landlords need quality agency services in a more challenging economic environment," he says. "The buildings doing go away, and they still need to be serviced and leased. In a challenging environment, it is even more imperative to have high-quality people and high quality teams working on those assets."

And, there are opportunities here. "Los Angeles is well-positioned to handle any potential economic disruption, due to the influx of the media and content industries," adds Bloodgood. "We are right in the middle of the streaming wars, and those businesses need content."

Instant Insights /

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