March 2, 2021 10:00 AM
Newmark announces the 602,378-square-foot, full-building lease of a distribution center located at 1250 George Road in the heart of Ashland, Ohio. Newmark Vice Chairman Terry Coyne represented the property’s owner, the Mid-America Management Corporation, in the long-term lease transaction to a confidential tenant.
“The property’s central location puts it at a great advantage in terms of distribution in the Midwest region,” said Terry. “Less than two miles from I-71 and accessible to many major Midwest cities, the facility is four hours from Buffalo and Indianapolis; three hours from Cincinnati, Detroit and Pittsburgh; and two hours from Columbus, Cleveland, Toledo and Akron/Canton.”
“The City of Ashland is excited to welcome a new business partner to one of our area’s largest industrial distribution facilities and we especially want to thank Terry Coyne and his Newmark team for the work they did in making this partnership happen,” said Mayor Matt Miller of the city of Ashland. “We look forward to the job growth and economic activity that will take place in this facility once it is fully-operational.”
Coyne added that the building itself, which was built in 2001, has many characteristics that companies desire in a distribution center, including 36-foot clear height ceilings, an ESFR fire protection system, ample parking for cars and trucks and multiple docks and drive-in doors.
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate services, with a comprehensive suite of investor/owner and occupier services and products. Our integrated platform seamlessly powers every phase of owning or occupying a property. Our services are tailored to every type of client, from owners to occupiers, investors to founders, growing startups to leading companies. Harnessing the power of data, technology, and industry expertise, we bring ingenuity to every exchange, and imagination to every space. Together with London-based partner Knight Frank and independently owned offices, our 18,800 professionals operate from approximately 500 offices around the world, delivering a global perspective and a nimble approach. In 2020, Newmark generated revenues in excess of $1.9 billion. 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.