Newmark Grubb Knight Frank (NGKF) has completed a seven-year, 118,615-square-foot industrial lease with Tekton Hospitality, a custom furniture manufacturer for the hotel industry. The property is located at 10955 Arrow Route in Rancho Cucamonga, California.
“It was a challenge to find a freestanding building that met Tekton’s requirements. However, this facility was an ideal match for the company,” said Lockhart. “The property was chosen because the factory floor plan requires three distinguished areas for millwork and finishing, as well as the shipping and warehousing department. This warehouse was already designed for this configuration, saving both time and money. Secondly, it offered the two large office spaces in separate locations, accommodating the desired space and privacy.”
From the design process to shipping, Tekton will be executing its entire operation at this property. Tekton President and CEO, Henry Savedra Jr., manufactured furniture overseas for more than 20 years with his previous company. Fueled by a dream to create jobs for his own country, Savedra founded Tekton as his new manufacturing company in the United States. He identified San Bernardino County as a prime location for economic growth.
Tekton is an American custom furniture manufacturing company that processes single and high-volume units. The firm specializes in case goods, soft goods and millwork for the hospitality industry.
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 12,800 professionals operate from more than 370 offices in established and emerging property markets on six 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., 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 (NASDAQ: 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 (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com.