July 9, 2021 10:00 AM
Newmark announces a 365,640-square-foot manufacturing and assembly asset for sale or lease at 510 East Agency Road in West Burlington, Iowa. Newmark Senior Managing Director Jeffrey Miller, SIOR is representing the seller, ABB, Inc. (ABB). Newmark’s Thomas Sonk maintains the national relationship with ABB.
The heavy industrial-zoned, turnkey switchgear manufacturing facility features anchor equipment including an existing powder coat paint line, zinc plating line, fluidized bed/epoxy coat line, waste water treatment facility and Towveyor parts system. Additionally, the 38.7-acre site can accommodate exterior operations or building expansions of over 150,000 square feet.
West Burlington is located in Southeast Iowa, immediately west of the Mississippi River, which serves as the border between Iowa and Illinois. Along the east property line, runs the Burlington Junction railroad which connects to the BNSF mainline approximately 1.5 miles north of the property.
“Centrally located between Chicago, St. Louis, Omaha and Minneapolis, this location is a highly sought-after industrial spoke for the upper Midwest,” said Miller. “This asset is an ideal fit for many users, with varying lines being left on-site. The opportunity to have a move-in-ready manufacturing space in a well-connected Midwestern hub with an experienced and highly productive workforce are major strengths of this offering.”
There is an expected total reemployment opportunity in excess of 150 employees, skilled in complex engineered-to-order electrical equipment, steel and copper fabrication, powder coat painting, electro plating and epoxy finishing. Buyers interested in the property will have the opportunity to qualify for local and state incentives based on new job creation, minimum qualified wage rates and improved property tax assessments.
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Our comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, growing startups to leading companies. In 2020, Newmark generated revenues in excess of $1.9 billion. Newmark, together with London-based partner Knight Frank and independently owned licensees, operates globally from approximately 490 offices with 19,300 professionals. To learn more, visit nmrk.com or follow @newmark.
Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the effects of the COVID-19 pandemic on the Company’s business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.