Commercial real estate services firm Newmark started 2023 with a new leader for its practice in the Philadelphia region: Lauren Gilchrist. Bisnow/Virginia Baker Lauren Gilchrist speaks at a Bisnow event in June 2022. Having recently departed Longfellow Real Estate Partners following years with JLL, Gilchrist's professional history is as a researcher. She built up enough respect and prominence in Philly to be named the first female president of NAIOP's Greater Philadelphia chapter in 2019, and still serves as co-chair of the organization's government affairs committee.
As the cost of doing business in commercial real estate has risen rapidly in the past few months, the frequency of that business has collapsed. That environment contributed to Newmark's decision to draw from the research field for its Philly leader.
'More than ever, our clients in the brokerage side of the business are demanding more strategic insight into the market," Gilchrist told Bisnow in an interview. 'Conditions have become even murkier with regard to what the future holds, and part of my job is to cut through the noise and to think of new ways of taking on the market.'
Gilchrist's day-to-day responsibilities will focus on growing Newmark's business in the region, especially by acquiring new clients and talent. Newmark having more room to grow its presence in the region than giant firms like CBRE and JLL was a central part of its appeal, Gilchrist said. Courtesy of Newmark Newmark Executive Vice President and Philadelphia Market Leader Lauren Gilchrist In addition to NAIOP, Gilchrist serves on the board of M&T Bank and the Philadelphia Facilities Management Corp., the governing body for Philadelphia Gas Works. That boardroom experience will be more relevant to Gilchrist's day job than ever before, she said.
'That'll be a little bit of a new challenge to me, and I'm really looking forward to it," Gilchrist said. "I'm fortunate that Newmark took a chance on me and my leadership style and my vision for how a firm like Newmark should operate in Philadelphia.'
Based out of 2005 Market St. in Center City, Newmark's regional practice also has offices in Wilmington, Delaware, Marlton, New Jersey, and the Main Line suburb of Wayne.