Local Real Estate Group Provides National Services to Top US Retailer
Over the last three years, Newmark Grubb ACRES has been the preferred real estate partner for Ace Hardware, providing the retail giant with new store acquisitions, existing store lease renewals, and consulting work across all 50 states. Recently, Ace Hardware consolidated their in-house real estate department and outsourced all real estate functions to the Salt Lake City-based team.
Scott Gambino, National Manager of Real Estate and Finance for Ace Hardware, had this to say regarding the change: “We have enjoyed quality results working with Newmark Grubb ACRES. They have provided unrivaled support to the Ace field team sourcing sites, negotiating leases, and providing reporting to the corporate level. Newmark Grubb ACRES is a true asset to the scores of Ace owners across the US.”
Senior Account Executive Matt Stephens leads the Salt Lake City team of Global Corporate Service brokers representing Ace throughout the country. When speaking on the new relationship with Ace, Stephens remarked, “Ace real estate deals are unique and challenging, and in our business that’s really exciting work to be a part of. These are family-owned stores, sometimes multi-generational and it’s very gratifying to create and add value for Ace owners whose grandparents opened the first store years ago. My team is passionate about real estate and in protecting and providing results to the Ace owners and field staff. To us, the relationship is personal.”
Ace Hardware is an American-born home improvement store that was founded over 90 years ago and has flourished into an internationally recognized brand. With headquarters in Oak Brook, Illinois, there are currently over 4,200 locations around the globe that are independently owned and operated.