Newmark Secures Nearly 100,000-Square-Foot Industrial Lease in San Francisco, California

January 16, 2024 12:00 PM

Newmark[1] announces it has facilitated a 98,000-square-foot lease at 2177 Jerrold Avenue, the largest[2] new industrial lease in the San Francisco market year-to-date[3].

Newmark Executive Managing Director Mark Geisreiter, Managing Director Aaron Gillespie and Senior Managing Director Seth McKinnon represented the landlord, LB Stone Properties Group. The City of San Francisco signed a long-term lease and plans to use the property for the Department of Homelessness and Supportive Housing.

“This lease exemplifies the strength and resilience of the San Francisco industrial market,” said Geisreiter. “With interest from multiple users, its central location and infrastructure make it an exceptional choice for the City of San Francisco. We’re proud to have been part of this landmark deal.”

The property, located on a 2.25-acre site, encompasses two building structures totaling 24,455 square feet and 79,643 square feet of secure yard space. Its strategic location provides easy access to Highway 101 and Interstate 280, positioning it as a logistical hub just 10 minutes away from San Francisco Airport and five minutes from downtown San Francisco.

[1] Dba Newmark Knight Frank in California
[2]By size (square footage)
[3]According to CoStar data

About Newmark
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. For the year ending December 31, 2022, Newmark generated revenues of approximately $2.7 billion. As of September 30, 2023, Newmark’s company-owned offices, together with its business partners, operate from approximately 170 offices with 7,400 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

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