Newmark taps Jay Booth to co-lead its mall valuation practice
After spending his entire 30-year career at Cushman & Wakefield, Jay Booth has moved on.
Booth, who has appraised or consulted on over 450 mall assignments in almost every state in the union, has accepted a position as senior managing director of Newmark’s retail and regional malls practice. It’s the same title he held leaving C&W, but at Newmark he will work as co-leader of the unit with John Mackris, who holds the same title.
Booth will be responsible for spearheading Newmark’s business development efforts, recruiting top-tier valuation professionals, and directing client service in Alaska, Oregon, Washington, and Hawaii.
“Jay Booth is a name synonymous with expertise and leadership in the industry, and I was so fortunate to watch him evolve into one of the most in-demand mall appraisers in the industry,” said John Busi, president of the valuation and advisory practice at Newmark. “He’s a true leader and one of the nicest people I know. It’s been one of the great pleasures of my career to work alongside Jay.”
As part of its expansion strategy to scale service offerings, Newmark has grown its retail platform with the acquisitions of RKF in 2018, Harper Dennis Hobbs in 2019, and Open Realty in 2022--the industry-leading North American retail real estate advisory firm with an extensive national and global top-tier client roster.
“By collaborating with some of the industry’s leading experts, many of whom I have had the honor of working with previously, I am set to contribute to both the enhancement of Newmark V&A's retail and regional malls specialty practice as well as its practice in the West Coast and Pacific Northwest, championing growth initiatives and deepening our connections with clients."
In 2023, Newmark reported revenues of approximately $2.5 billion. Together with its business partners, the company’s 7,600-person work force operates out of approximately 170 offices worldwide.