Newmark is pleased to announce that it has successfully advised Flint Group in its 31,000-square-foot lease renewal at 1225 Lakeside Drive, an industrial asset in Romeoville, Illinois. Newmark Senior Managing Director Corey B. Chase represented Flint Group in the transaction; George Cibula of Darwin Realty/CORFAC International represented ownership. Flint Group, which has been a tenant at 1225 Lakeside Drive since 2015, is one of the largest suppliers to the printing and packaging industry worldwide.
“Flint Group, which has been at 1225 Lakeside Drive since 2015, wanted to maintain the locational benefits of the property, which features direct access to I-55 and Route 53,” said Chase. “In addition, we secured a tenant improvement package which will allow Flint Group to update their space.”
1225 Lakeside Drive is located within the I-55 Corridor industrial submarket. According to Newmark Research, the I-55 Corridor has some of the lowest average asking rents and the third largest industrial inventory (107,276,790 square feet) in the Chicago region.
Chicago has delivered more than 400 new industrial buildings (totaling over 110 million square feet) in the last ten years, and more than half (69 million square feet) of this new development delivered in the I-55, I-80 and Southeastern Wisconsin submarkets.
Flint Group operates more than 140 facilities and employs approximately 6,800 people worldwide. The company develops, manufactures and markets printing consumables and printing equipment; and designs, develops and delivers web-fed digital color presses for labels and packaging applications, document printing and commercial printing as well as platemaking equipment and computer-to-plate (CtP) solutions.
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 18,000 professionals operate from approximately 480 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.
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