August 24, 2021 4:00 PM
Newmark announces the $43 million sale of 25 Computer Drive, a warehouse/distribution asset located in Haverhill, Massachusetts. Newmark Co-Head of U.S. Capital Markets Robert Griffin, Vice Chairman Edward Maher, Executive Managing Directors Tony Coskren and Matthew Pullen and Managing Directors Samantha Hallowell and Brian Pinch of the firm’s Boston Capital Markets Group represented the seller, Eastern Real Estate, and procured the buyer, Northbridge Partners.
Comprising 144,000 square feet, 25 Computer Drive is situated directly off Interstate 495, four miles south of the New Hampshire border and 35 miles north of Boston. The property features a 10-year, triple-net lease to a major e-commerce retailer.
“25 Computer Drive’s tenant is undertaking substantial improvements to the asset’s buildout that are anticipated to result in the creation of an exceptionally high-quality logistics facility,” said Pullen. “The property also benefits from a prime distribution location given its access to population hubs across both Massachusetts and New Hampshire.”
About Newmark
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. Our comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, growing startups to leading companies. In 2020, Newmark generated revenues in excess of $1.9 billion. Newmark, together with London-based partner Knight Frank and independently owned licensees, operates globally from approximately 490 offices with 19,300 professionals. 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.