Newmark Arranges Sale & Financing of Monument III; Appointed Exclusive Leasing Agent for Class A Office Property in Northern Virginia

May 18, 2026 9:00 AM

Newmark announces the Company has arranged the sale and acquisition financing for Monument III (the "Property"), a Class A office building in Herndon, Virginia. Crown Properties, a New York-based privately held real estate company, acquired the Property from Santander Bank for approximately $28 million. Executive Managing Directors Jud Ryan and James Cassidy and Vice President Grant Marley represented the seller in negotiations, while Vice Chairman Joe Donato and Managing Director Andrew Asbill secured the loan on behalf of the buyer.

Following the acquisition, Crown Properties awarded Newmark the exclusive leasing assignment for the Property. Executive Managing Directors Andy Klaff and Stephen L. Hoffeditz, Director Dominic Orcino and Associates Debbie Cross and Wes Evans will lead leasing efforts.

Ownership plans to implement a seven-figure capital improvement program to build on the Property's existing amenity-driven environment, including a new state-of-the-art fitness center with locker rooms and showers, a golf simulator and upgrades to the communal lounge, including the relocation of the building's food service and vending offerings, with expected delivery Q3 2026.

"This acquisition reflects our continued focus on acquiring high-quality, well-located assets at an attractive basis and creating value through active management. With Monument III, we have strong existing tenancy, limited near-term rollover, and a clear opportunity to further elevate the building through leasing and amenity enhancements," said Matt Lefkowitz, Managing Partner at Crown.

Monument III is positioned within Northern Virginia's Dulles Technology Corridor, offering strong visibility along the Dulles Toll Road and convenient access to Washington Dulles International Airport and nearby Metro stations. The Property also benefits from immediate proximity to Worldgate Centre, which features more than 200,000 square feet of retail, dining and hospitality amenities, including a full-service Marriott hotel.

At closing, Newmark and Crown Properties extended the building's anchor tenant, Serco, Inc., measuring 58,977 square feet. Select availability remains at the tower, including the entire top floor totaling 28,486 square feet, offering high end finishes, efficient layout, and panoramic views. Customized suites are also available on the the third and fifth floors ranging from 3,000 to 15,000 square feet.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended December 31, 2025, Newmark generated revenues of nearly $3.3 billion. As of December 31, 2025, Newmark and its business partners together operated from approximately 175 offices with over 9,300 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company's business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark's Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.