Commercial real estate firms Moses Tucker, Newmark Grubb Arkansas announce merger
by January 17, 2018 12:00 pm 741 views
Moses Tucker Real Estate and Newmark Grubb Arkansas announced Wednesday (Jan. 17) a merger that will create a new company called Moses Tucker Partners.
The new company, according to a news release issued by the firm, makes Moses Tucker Partners the second largest commercial brokerage and management firm in the state, with 5.8 million square feet of commercial space under management in Arkansas.
The new firm will be based in downtown Little Rock, with approximately 100 brokers and employees among four offices in Little Rock, North Little Rock, Bentonville and Fayetteville.
The merger is effective immediately, according to the release, though both entities will work independently for the next several weeks as legal and logistical terms are finalized.
Chris Moses, president and chief executive officer of Moses Tucker Real Estate, is now president and CEO of Moses Tucker Partners. Paul Esterer, CEO of Newmark Grubb Arkansas in Bentonville, is now president of the firm’s Northwest Arkansas division. Fletcher Hanson, CEO and principal broker of Newmark Grubb Arkansas, is principal broker for the new company. Jimmy Moses, founder and chairman of MTRE, and Rett Tucker, co-chairman of MTRE, are co-chairmen of Moses Tucker Partners. The five men also comprise the new company’s board of directors.
“Jimmy Moses and Rett Tucker together have transformed downtown Little Rock’s skyline, including more than $300 million of development in that city,” Moses said in a statement. “We will continue to rely on their vast experience and visionary ideas as they continue to advise our new leadership on growth opportunities throughout the state.”
Moses Tucker Partners will affiliate with Newmark Knight Frank, a real estate services company active around the globe. The company will keep its presence in Conway through the company’s existing brokerage team led by Greg Nabholz, senior managing director of Newmark Grubb Arkansas.
Newmark Grubb Arkansas, founded in 2004, managed more than $100 million in transactions in 2017. Moses Tucker, founded in 1984, has grown to almost 4.5 million square feet in Arkansas. The company managed more than $300 million in transactions last year.