January 19, 2022 10:30 AM
Newmark announces the $52 million sale of 125 Goddard Memorial Drive, a “last-mile” distribution facility located in Worcester, Massachusetts. Newmark Co-Head of U.S. Capital Markets Robert Griffin, Vice Chairman Edward Maher, Executive Managing Directors Matthew Pullen and Tony Coskren and Managing Directors Samantha Hallowell and Brian Pinch of the firm’s Boston Capital Markets Group represented the seller, RJ Kelly, and procured the buyer, Tritower Financial Group. Newmark Vice Chairman J.R. McDonald provided leasing expertise.
Totaling 176,000 square feet, 125 Goddard Memorial Drive was fully redeveloped in 2020 and 2021 with extensive building, loading, system and site improvements.
“RJ Kelly’s redevelopment of 125 Goddard Memorial Drive created a first-class, ‘like-new’ asset,” said Pullen. “This enabled it to secure a full-building lease with a major e-commerce company.”
125 Goddard Memorial Drive is located just south of the Worcester Regional Airport and less than four miles from Interstate 290, providing the asset with seamless regional connectivity.
About Tritower Financial Group
Tritower Financial Group (TFG) is a private real estate investment and management firm that acquires and operates single-asset real estate investments for high net worth individuals, family offices, and institutional clients. Since its inception in 2014, TFG has acquired 20 transactions valued over $1 billion in the markets of Greater Boston, D.C., and Denver. TFG has successfully established a broad investor base that includes thousands of high net worth and institutional investors. Please visit www.tritowerfinancial.com for more information on TFG.
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. Newmark generated revenues in excess of $2.5 billion for the trailing twelve months ending September 30, 2021. Newmark’s company-owned offices, together with its business partners, operate from over 160 offices with approximately 6,200 professionals around the world. 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.