November 30, 2023 9:00 AM
Newmark announces it has arranged the sale of an industrial property located at 37580 Filbert Street in Newark, California. The 84,482-square-foot warehouse building is situated on a 4.67-acre site.
Newmark Executive Managing Directors Mark Geisreiter and Mike Spiro and Senior Managing Director Seth McKinnon represented the private seller, REIS Newark, LLC. The buyer was Bridge Logistics Properties (“BLP”), a subsidiary of Bridge Investment Group Holdings Inc. (NYSE: BRDG).
“We are excited to have been part of this sale. 37580 Filbert Street is an exceptional property with a prime location in Newark’s industrial market, representing a significant investment opportunity,” said Geisreiter.
The property is 100% triple net-leased to Vital Records Control, a top record and information management company. Built in 2002 and expanded in 2012, the building features 34’-40’ clear heights, five grade level doors, two dock doors and two access points to Filbert Street, allowing larger trucks easy ingress and egress.
“This sale underscores Newark’s industrial real estate strength and demand for modern properties, and we look forward to witnessing BLP maximize the potential of this asset,” Geisreiter added.
 Dba Newmark Knight Frank in California
Bridge Logistics Properties (“BLP”) is a vertically integrated logistics real estate investment manager led by tenured, multi-disciplinary real estate veterans with experience navigating several economic environments over the past three decades. Its founding members and leadership team employ a disciplined investment strategy that is both cycle-tested and innovative. BLP is a value-focused investment manager that is highly collaborative with its institutional capital partners. Leveraging its deep local relationships and global vision, BLP uncovers and executes value transactions in targeted coastal and gateway markets in the U.S. and abroad. Across its four offices – in the Northeast, West, Southeast and Central United States – BLP has proven regional experience in acquisitions, opportunistic repositioning, and development of global logistics assets. Its steadfast focus on innovation and sustainable development promotes solutions that are both profitable and socially responsible. For more information, visit Bridge Logistics Properties.
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. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ending December 31, 2022, Newmark generated revenues of approximately $2.7 billion. As of September 30, 2023, Newmark’s company-owned offices, together with its business partners, operate from approximately 170 offices with 7,400 professionals around the world. To learn more, visit nmrk.com or follow @newmark.
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