Newmark Grubb Knight Frank (NGKF) has been awarded exclusive assignments for the 5.2 million-square-foot, 10-building StratREAL Industrial Portfolio II, spanning three states. The commercial real estate services firm was selected by LNR Partners, special servicer to the ownership.
For NGKF, Mitchell Katz will serve as the point of contact for the portfolio’s leasing effort, coordinating with Cary Fronstin and Randy Buddemeyer on the property management assignment. The entire effort will be handled through the firm’s Rutherford, N.J.; Columbus, Ohio; Memphis and Nashville, Tenn.; and Sacramento, Calif. offices.
The assignments include leasing and managing five properties in the Memphis market: HP Memphis, 5200 Tradeport Drive (625,000 square feet (sf)); Centerpoint II, 3399 E. Raines Road (600,000 sf); CIC Industrial, 6005 Freeport Ave. (550,000 sf); Memphis International, 4550 Swinnea Road (337,655 sf); and Mid-South Logistec VI, 437 New Sanford Road in LaVergne (770,000 sf).
NGKF also will manage three properties in the Columbus market: Continental Tire, 2190 Creekside Parkway in Lockbourne (766,571 sf); Southpark IX, 3400 Southpark Place in Grove City (409,620 sf): and Rickenbacker III, 2250 Spiegel Drive in Groveport (344,200 sf). Finally, the firm will lease and manage two properties in California- Woodlands I and II, totaling 800,000 square feet at 2222 E. Beamer in Woodland.
“The portfolio currently has limited vacancy and there are additional opportunities to create significant value within the portfolio in the near term,” said Mr. Katz.
“LNR has been a valued client for 20 years,” said James Kuhn, president of NGKF and chairman of the firm’s national Capital Markets and Property Management boards. “We are thrilled to be expanding that relationship throughout our geographic footprint and through the enhancement of our platform.”
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank (NGKF) is one of the world’s leading commercial real estate advisory firms. Together with its affiliates and London-based partner Knight Frank, NGKF employs more than 11,000 professionals, operating from more than 340 offices in established and emerging property markets on five continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. Its integrated services platform includes leasing advisory, global corporate services, investment sales and capital markets, consulting, program and project management, property and facilities management, and valuation services. A major force in the real estate marketplace, NGKF serves the local and global property requirements of tenants, landlords, investors and developers worldwide. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc. (NASDAQ: BGCP), a leading global brokerage company primarily servicing the wholesale financial and real estate markets. For further information, visit www.bgcpartners.com.