Newmark Taps Meg Hanley as Senior Vice President to Lead 601W's 21 Million-Square-Foot Office Portfolio

Newmark has appointed Meg Hanley as Senior Vice President and Account Executive to lead the firm's property and project management assignment for 601W Companies' national office portfolio, the company announced September 23, 2026. In the role, Hanley will direct portfolio strategy and oversee the transition of the account to Newmark across more than 21 million square feet of office space in four markets.

Role and Responsibilities

Hanley will be responsible for leading 601W's portfolio strategy and managing the handoff to Newmark. The assignment covers more than 12 million square feet in Chicago and more than 9 million square feet across New York City, New Jersey and Los Angeles. Services had already begun at 333 S. Grand Avenue in Los Angeles when the broader assignment was announced.

The mandate encompasses both property management and project management, positioning Newmark as an integrated operating partner for 601W. The scope includes standardized reporting, staffing, vendor procurement, building operations, capital-project controls and tenant-service practices across markets with distinct leasing conditions.

"I am excited to join Newmark and lead this important assignment for 601W. The scale and sophistication of the portfolio create an opportunity to build a truly cohesive operating business while maintaining the individualized approach that each asset and ownership group requires. My focus will be on bringing together talented people, strong processes and deep market expertise to deliver exceptional execution and create long-term value for our client," Hanley said.

Hanley's Background

Hanley brings more than 20 years of commercial real estate experience leading institutional property management organizations across multiple U.S. markets. Most recently, she served as Managing Director of Property Management for Sterling Bay Property Management at JLL, where she provided executive leadership for a multistate operation of approximately 100 professionals, including 15 general managers, vice presidents and senior vice presidents.

Throughout her career, Hanley has built and scaled property management organizations, led complex portfolio transitions and integrations, and developed relationships with institutional owners, investors and business partners. She has also played a role in executive client presentations and new business pursuits, with a focus on operational strategy, client service and long-term value creation.

"Clients continue to choose Newmark for assignments of this scale because of our ability to align the right people, expertise and resources around their business goals," said Richard Holden, President, Property Management. "Meg brings the leadership, operational expertise and institutional portfolio experience needed to deliver the consistency, accountability and service excellence 601W expects across its portfolio."

Market Context

The appointment comes as the U.S. office market shows signs of measured recovery, though conditions remain uneven. National office vacancy fell 30 basis points to 18.3% in the second quarter of 2026, the largest quarterly decline since 2015. Prime office vacancy declined 40 basis points to 12.3% over the same period, while average asking rents rose 2.6% year over year to $37.58 per square foot. Class A properties captured approximately 21 million square feet of net absorption during the first half of 2026, with full-year rent growth expectations at 2.7% and average Class A asking rents at $43.74 per square foot.

Office cap rates have stabilized in the mid-7% range, approximately 100 basis points above 2022 market lows, a pricing environment that makes operating performance and expense control more consequential for institutional owners. As occupiers consolidate into higher-quality buildings, tenant experience, service levels and capital-project execution have become more significant factors in retention and leasing velocity.

Strategic Significance

The 601W assignment represents a competitive shift in the property management market, with the portfolio transferring to Newmark from JLL. For a portfolio of this scale, coordinated operations across markets require common reporting standards, staffing frameworks, procurement practices and capital-project oversight — areas that align directly with Hanley's prior experience building and integrating property management organizations.

Newmark reported revenues of more than $3.6 billion for the twelve months ended June 30, 2026, and operates from more than 195 offices with more than 10,000 professionals across four continents.

Sources

Newmark Press Release: Newmark Appoints Meg Hanley to Lead 601W Property Management Portfolio