May 13, 2021 10:00 AM
Newmark announces the sale-leaseback and renovation-to-suit of a single-tenant headquarters office building located at 12200 Herbert Wayne Court in Huntersville, North Carolina. The 124,336-square-foot building will continue to be 100% occupied by American Tire Distributors, Inc. (ATD), whose occupancy dates back to 2001
Newmark Vice Chairman Andrew Sandquist, Executive Managing Director Chris Mason, Managing Director JC Asensio, and Associate Director Briggs Goldberg, in cooperation with Associate Director Karen Mankowski, represented ATD in negotiations to purchase the property from its previous landlord. Once under contract, the property was marketed as a long-term sale leaseback and sold to an undisclosed private buyer. Chris Mason manages the national ATD relationship, a long-term corporate client of Newmark. David Sloop of Newmark’s Global Corporate Services team is serving as project manager for the building renovation. Vice Chairman and Co-Head of Newmark Debt and Structured Finance Group Jordan Roeschlaub acted in an advisory role for the buyer. ATD Director, Supply Chain Management and Real Estate Facilities Management, Michael Suits, and ATD Senior Corporate Counsel, Julien Polk, managed the transaction for ATD.
“ATD is committed to the greater Charlotte community and we’re proud to call Huntersville our home for the past two decades. Newmark was instrumental in bringing our vision for a state-of-the-art workplace to life. The space will be a cornerstone in driving ATD’s culture for decades to come,” said Stuart Schuette, president and CEO of ATD. “We appreciate the significant value added by Newmark’s full suite of services that allowed the completion of this transaction so seamlessly.”
A result of the transaction, the building will undergo a multi-million-dollar renovation including a café, fitness center, and multi-purpose space as well as a collaborative, modern workplace, designed around the hybrid-workforce of the future.
“This was an incredibly unique transaction, the execution of which demonstrated the collaborative and comprehensive nature of Newmark’s platform capabilities,” said Andrew. “With a creative approach, we were able to generate the best possible outcome for ATD and overcome the challenges that have impacted the office market throughout COVID-19. Charlotte continues to be a great market for investors, tenants and employees, alike and we are grateful to be part of this very exciting project as a partner with ATD.”
The Charlotte, North Carolina area is the second-largest financial center in the United States and continues to be the subject of relocation announcements. Nearby the property is the ongoing development of health-insurance provider Centene’s 80-acre regional headquarters which was announced last summer. More recently, Robinhood announced an operations center in Charlotte.
About American Tire Distributors
American Tire Distributors is one of the largest independent suppliers of tires to the replacement tire market. It operates more than 130 distribution centers, including 24 distribution centers in Canada, serving approximately 80,000 customers across the U.S. and Canada. The company offers an unsurpassed breadth and depth of inventory, frequent delivery and value-added services to tire and automotive service customers. American Tire Distributors employs approximately 5,000 associates across its distribution center network, including approximately 600 associates in Canada. In 2021, the company was recognized as one of Forbes’ 2021 America’s Best Mid-Sized Employers and received a Gold Stevie® Award in the Transportation Company of the Year category of the American Business Awards®, in addition to a Bronze Stevie® Award for Most Innovative Company of the Year.
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.