Newmark Group Inc. (NASDAQ: NMRK) received an exclusive leasing and management assignment for a 66-building, 4.2 million-square-foot office and flex portfolio in suburban Philadelphia, the company announced March 17.

The portfolio spans Wayne, Malvern, Exton and Horsham submarkets. Newmark will provide integrated leasing, property management and project management services on behalf of a court-appointed receiver.

Executive Managing Director Jim Dugan will lead the leasing team alongside Senior Managing Directors Patrick Nowlan and Justin Bell, and Associate Sean Donnelly. Property management services will be headed by Senior Vice President Gregory Bond and Vice President Carol Driver, supported by a nearly 20-member on-site management and engineering team.

Flex properties within the portfolio show occupancy rates of 85% in Chester County and 92% in Horsham. Notable office properties include 2 West Liberty Boulevard and 40 Liberty Boulevard in Malvern, and buildings at 4, 5, and 7 Walnut Grove Drive in Horsham.

"With the right operational infrastructure now in place, funding for tenant improvements and capital investment, and a fully integrated team across leasing, management, and project delivery, we are positioned to drive renewed momentum across the portfolio," Dugan stated.

According to Newmark Research, the region's office market is approaching an inflection point with improving leasing momentum and declining sublease availability. Suburban market fundamentals have stabilized, with high-quality assets in prime locations outperforming others.

Newmark reported revenues of nearly $3.3 billion for the twelve months ended December 31, 2025, and operates from approximately 175 offices with over 9,300 professionals across four continents as of that date.