Newmark Grubb Knight Frank (NGKF) is pleased to announce that Senior Managing Director Dan Labes has completed a 754,744-square-foot lease to Ford Motor Company at 28301 Schoolcraft Road (Livonia Corporate Center) in Livonia, Michigan on behalf of the owner, Ashley Capital. Ford signed the long-term lease to occupy 100 percent of the building.
“We are pleased to have represented Ashley Capital in this significant lease transaction in Wayne County, keeping the building’s occupancy at 100 percent,” said Labes. “Ashley Capital was notified that long-term tenant, Technicolor, was vacating the building upon lease expiration. By using my resources within NGKF, along with those of Ashley Capital’s acclaimed development and management teams, I was able to quickly assist Ashley Capital by securing Ford as a long-term tenant before Technicolor even vacated, leaving virtually no downtime for the landlord.”
Livonia Corporate Center is a dynamic corporate park consisting of two Class A buildings totaling 1,100,000 square feet. Built in 2001, 28301 Schoolcraft Road is a 766,557-square-foot industrial warehouse within the park which features multiple docks and ESFR sprinklers. Livonia Corporate Center also offers close proximity to Highway I-96 and benefits from Livonia’s excellent infrastructure and credit rating. Ashley Capital plans to build two additional buildings totaling just over 900,000 square feet with an estimated completion date of June 2017.
“Dan of NGKF is a skilled professional that has served our team well. He used his resources and knowledge to efficiently secure a quality tenant for us and minimize any vacancy time with Technicolor leaving,” said Kevin Hegg, vice president of leasing for Ashley Capital. “We look forward to welcoming Ford Motor Company to the building.”
Ford Motor Company is a global automotive and mobility company based in Dearborn, Michigan. With about 201,000 employees and 67 plants worldwide, the company’s core business includes designing, manufacturing, marketing, financing and servicing a full line of Ford cars, trucks, SUVs and electrified vehicles, as well as Lincoln luxury vehicles. The firm will take occupancy of the new Livonia location in September 2016.
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 http://www.bgcpartners.com/.