Newmark Grubb Knight Frank (NGKF) has announced the sale of 19.7 acres of land in Gateway Park to Communications Test Design, Inc. (CTDI). The global engineering, repair, and logistics company intends to construct a build-to-suit technical service and logistics/distribution facility at the site. CTDI, a long-time tenant of Gateway Park, was co-represented by Chris Nordling of NGKF with John Morrissey and David Mackey of Jackson Cross Partners in Philadelphia, PA, who have a decade-long collaborative relationship with CTDI.
“We are fortunate that CTDI Aurora is thriving and outgrowing its current space,” commented Paul Cardell, Vice President of Corporate Operations of privately-owned CTDI. “As a tenant of Gateway Park, we are already familiar with its locational attributes, outstanding amenities, and proactive ownership. This is an ideal situation for our new testing, repair and logistics service operation, and provides additional room to grow our business with our customers in the Western U.S.” Currently leasing over 100,000 square feet in Gateway Park, the company expects to break ground on Phase I - a 204,000-square-foot industrial facility - in March 2015. Headquartered in West Chester, PA, CTDI has more than 10,000 employees located in 70 facilities worldwide.
“CTDI has been a great tenant in our industrial portfolio for the past eighteen years and we are very excited they selected Gateway Park for the home of their new 204,000-square-foot development,” stated Bill Pauls, chairman of the board for The Pauls Corporation, the developer of Gateway Park. Encompassing over 1,200 acres on the border of Aurora and Denver, Gateway Park’s mixed-use commercial development includes industrial, office, retail, hospitality and residential space, currently totaling over 5.6 million square feet. Additional planned developments at the business park include nearly 1.3 million square feet of industrial buildings, 700,000 square feet of office and 850 residential units.
“We are so pleased to have CTDI remain in Aurora, and at Gateway Park with its exclusive cadre of tenants,” added Aurora City Mayor Steve Hogan. Major tenants at Gateway Park include Boeing, Serta, CardinalHealth, Whole Foods, Best Buy, Northrop Grumman, the Federal Marshal Association, and the Department of Defense.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,000 professionals operate from more than 330 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com/.