Newmark Grubb Knight Frank (NGKF)’s National Institutional Team in New York, with expert NGKF Capital Markets brokers in local markets, represented a special servicer in the disposition of nine industrial/flex office properties in a national portfolio, with a 10th transaction currently under contract. The nine deals total approximately $87 million and represented more than 1.6 million square feet. The buyers were a mix of national, regional and local firms, cultivated by both the New York team and the local brokers.
“This is a perfect example of how we combine our institutional coverage in New York with our local market experts to reach a broader pool of investors and maximize returns for our clients,” said NGKF Director David Colen, who facilitated the transactions nationally along with NGKF President James Kuhn and fellow Director William Lee.
• Closed, five properties in Charlotte, N.C., totaling 746,338 combined square feet. The properties are located in Harris Oaks (125,156 square feet), Harris Ridge (160,355 square feet), Northcross Center (80,000 square feet), Northridge Business Center (174,506 square feet), and Northwoods Business Park (206,321 square feet). Executive Managing Director Ken Szady and Associate Director Tom Creasy were the local NGKF representatives for the seller.
• Closed, one property in Fort Lauderdale, Fla., totaling 319,215 square feet. Executive Managing Directors Michael Lapointe and Adam Greenberg, and Director Michael Lohmann, were the local NGKF representatives for the seller.
• Closed, one property in Springville, Utah, totaling 242,212 square feet. Executive Vice Presidents Bryce Blanchard and Kyle Roberts were the local NGKF representatives for the seller.
• Closed, one property in Detroit, totaling 172,463 square feet. Senior Managing Directors Patrick Shannon and Dan Labes were the local NGKF representatives for the seller.
• Closed, one property in Atlanta, totaling 116,406 square feet. Managing Directors Eva Horton and Peter Everett were the local NGKF representatives for the seller.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,000 professionals operate from more than 320 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. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. 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.