Newmark has announced completion of a lease with NorCraft Cabinetry for 38,988 square feet of brand new warehouse space in Lathrop, CA. Starting as a small regional manufacturer, Norcraft Cabinetry has evolved to become the fifth largest cabinetry producer in the United States with clients that include KB Homes and Pulte Homes, among others. Norcraft is a leader in the cabinet market, creating glazed cabinets, kitchen cabinets, bath vanities, entertainment centers, wine racks and cabinets, and more.
Newmark Director Shawn Klein represented NorCraft in the 62-month lease within the Crossroads Logistics Center, a newly-constructed 35 acre business park located at the intersection of Nestle Way and Christopher Way at Crossroads Commerce Center in Lathrop. The landlord is Buzz Oates Real Estate. Other recent tenants within the park include Tesla Motors and Raymond Material Handling.
The business park is a class A, three-building industrial complex targeting larger sized logistics, transportation and manufacturing uses, with warehouses that range in size from 103,000 square feet to 338,000 square feet of space. The park’s tenants benefits from proximity to the greater San Francisco region, Port of Oakland, BNSF and UP intermodals. The NorCraft Cabinetry warehouse features six dock doors, grade-level loading and 32’ clear height.
“More and more clients are asking about the Central Valley due to its reduced cost and the abundant labor force. This trend will continue as Bay Area costs continue to escalate and the ability to expand is more challenging,” said Klein. “If businesses don’t have to be located in the immediate Bay Area, the Central Valley is an excellent alternative.”
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark”), is one of the world’s leading commercial real estate advisory firms. Newmark has over 4,600 employees in over 120 offices. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents. With roots dating back to 1929, Newmark’s strong foundation makes it one of the most trusted names in commercial real estate. We offer a complete suite of services and products for both owners and occupiers across the entire commercial real estate industry.
Our investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting and, under trademarks and names like Berkeley Point and Newmark Capital Markets, government sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Our 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. We enhance these services and products through innovative real estate technology solutions and data analytics designed to enable our clients to increase their efficiency and profits by optimizing their real estate portfolio. We have relationships with many of the world’s largest commercial property owners, real estate developers and investors, as well as Fortune 500 and Forbes Global 2000 companies. For further information, visit www.ngkf.com.
Newmark, which is listed on the NASDAQ Global Select Market under the symbol “NMRK”, is a publicly traded subsidiary of BGC Partners, Inc. (“BGC”), a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol “BGCP”. BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol “BGCA”.
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