Newmark announces the sale of the International Circle Portfolio, a four-building, 337,340-square-foot portfolio in Hunt Valley, Maryland. A local, family-owned investment and development company purchased the portfolio.
Executive Managing Director Cris Abramson, Director Nicholas Signor and Associate Ben McCarty of Newmark’s Maryland Capital Markets Team facilitated the sale. The transaction is the team’s 11th suburban-Maryland office sale in the last 12 months.
“International Circle includes two of the most recognizable multi-story assets in Hunt Valley,” said Abramson. “Located in the heart of Hunt Valley, the assets offer access to countless amenities, Light RailLink public transportation, and easy access to I-83.”
The International Circle Portfolio is 94 percent leased providing strong in-place cash flow from a diverse tenant roster with contractual rent increases.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 16,000 professionals operate from approximately 430 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.
Discussion of Forward-Looking Statements about Newmark Group
Statements in this document regarding Newmark Group 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. Except as required by law, Newmark Group 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 Group’s Securities and Exchange Commission filings, including, but not limited to, any updates to such risk factors contained in subsequent Forms 10-K, 10-Q, or Forms 8-K.