Newmark Grubb Knight Frank (NGKF) announces global food packaging specialist headquartered in Finland, Huhtamaki North America, has committed to the acquisition of the 750,000-square-foot rail-served manufacturing and distribution facility in Cotton Lane Commerce Park, Goodyear, AZ. NGKF’s Jim Belcher and Robert Stephens represent Huhtamaki.
“Cotton Lane Commerce Park is a superb location for Huhtamaki’s new facility, offering rail service and excellent access to the region and Southern California via I-10 and I-8,” remarked Robert Stephens, managing director at NGKF. “Arizona’s attraction for advanced manufacturing companies remains high, as the area’s high-quality talent pool, modern infrastructure, low cost of living and optimally positioned geographic location competes well with other major metropolitan areas.” Goodyear is located just 19 miles west of Phoenix and within one day delivery of major markets in southern California and other western locations.
Huhtamaki has indicated its intent to exceed $100 million in capital investment at the site, with the goal of building a “21st century work environment.” The new facility will serve west coast foodservice packaging and retail tableware markets, producing paper cups, pressed paperboard plates and thermoformed plastic cups and lids, and bringing approximately 300 new jobs to the region. Construction of infrastructure at the 102-acre site is expected to begin in the second quarter of 2017, with commercial production scheduled to begin in late 2017.
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 14,100 professionals operate from more than 400 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/.
About Huhtamaki North America
Huhtamaki North America is a leading manufacturer of consumer goods packaging as well as tableware, cups, folding cartons, containers, carriers, trays and serviceware for the foodservice industry and retail markets. Our product portfolio includes Chinet®, the leading brand of premium tableware. Huhtamaki North America employs approximately 3,600 people in 17 manufacturing units. The parent company, Huhtamaki Oyj, has its head office in Espoo, Finland and its shares are quoted on the NASDAQ OMX Helsinki Ltd. Additional information is available at www.huhtamaki.com.