BCG Partners buys Excess Space real estate services firm

New York - BGC Partners Inc., a global brokerage company servicing the financial and real estate markets, has entered into an agreement to acquire Excess Space Retail Services Inc. Excess Space is a premier provider of real estate disposition, lease restructuring and lease renewal services, as well as related valuations for retailers nationwide and currently advises on 35.6 million-sq.-ft. of retail space in North America.



Upon close, the acquisition is expected to complement and drive future growth opportunities within Newmark Grubb Knight Frank Global Corporate Services (NGKF). Financial details of the transaction were not disclosed.



"We are pleased to announce this transaction which completes the full spectrum of retail occupier services offered within our global corporate services business," said Barry M. Gosin, CEO of NGKF. "Excess Space is a dominant force in the niche area of real estate dispositions and lease restructurings for retailers, they have an excellent industry reputation, and their business of moving rapidly and efficiently to assist clients in healthy and distressed situations complements our own services. This union creates a full array of seamless, value-driven services for our clients and elevates our competitive offering to new heights."



Excess Space advises some of the nation's leading supermarkets, drug stores, department stores, home furnishings companies, banks, and restaurants in a range of services, including dispositions of both leased and fee simple property, lease restructurings and related valuations.