Newmark Forms Technology and Innovation Practice Group
Tech employment is expected to grow this year.
Newmark has formed a Technology and Innovation Practice Group that will be focused on technology, advertising, media and information and technology, media and telecom tenants within the office sector.
Newmark says this practice group has been formed after years of tech tenant representation, reflecting the cross-market collaboration that has fueled the platform’s growth. Leading the group will be Newmark President and Head of Investor Services Jimmy Kuhn, Vice Chairmen Elizabeth Hart (San Francisco) and Ben Shapiro (New York City) and Senior Managing Directors Andrew Blaustein (Denver) and Jennifer Frisk (Los Angeles).
Its focus includes strategic planning and advisory in site selection, distributed office mapping, growth planning and workplace strategy, acquisition, disposition, leasing, subleasing, financial analysis, project management and portfolio management.
According to Newmark Research, tech employment reached an estimated 12.2 million workers in 2020, with the sector accounting for 7.9% of the overall US workforce. From 2015 to 2020, 1.1 million tech jobs were added nationally, more than 224,000 per year. Looking ahead, the technical workforce is projected to add 245,514 new jobs by the end of the year or grow by 2.0%, based on a solid start to 2021 so far and momentum from an expected return to normalcy in the broader economy.