9:00 AM
As more companies expand their operations in Chicago’s hot CBD submarkets like River North and the Fulton Market, Newmark Grubb Knight Frank (NGKF) is pacesetting in the dramatic growth, adding 600,000 square feet to its downtown leasing portfolio facilitated by the hire of one of the area’s top veteran landlord dealmakers, Matthew Ward.
Mr. Ward comes with the city’s highest profile leasing assignment-finding the next big-name tenant(s) to take the 200,000 square feet that Google currently occupies at 20 West Kinzie until late 2015. The tech giant’s move to a larger space in the west loop offers an unmatched opportunity for firms to get a foothold in Chicago’s only true 24/7 neighborhood. Mr. Ward also leads the exclusive leasing of 111 West Illinois. The pair total 600,000 square feet in the coveted River North submarket and are considered two of the city’s most recognizable new-economy buildings that define today’s Class A office space.
“A lot of the momentum driving downtown leasing correlates to the growing tech industry and specifically companies targeting ‘knowledge workers’ who desire collaborative and inspiring environments, with proximity to lodging and lifestyle. NGKF recognizes the importance of continually building upon our expertise in metropolitan Chicago, where a strong CBD and urban population hub will drive regional economic performance,” said Michael Sheinkop, executive vice president and regional managing director.
“The addition of a professional like Matt, with diverse experience that includes large scale corporate relocations, leasing and ground up development, is a rare blend. Matt is uniquely qualified to support both institutional and private equity clients’ appetite to source and monetize untold opportunities by transforming underutilized assets, while representing the reality of the new demand drivers affecting the ever-changing Chicago skyline,” Mr. Sheinkop added.
As a senior managing director at NGKF, Mr. Ward will focus primarily on institutional and private equity landlord representation. Previously, he served as a senior vice president at The Alter Group, where he was instrumental in bringing Google to 20 West Kinzie and helped the company to expand its Midwest headquarters from 15,000 square feet to 200,000 square feet, cementing the building’s reputation. He maintains strong connections with the city’s growing technology companies, such as salesforce.com, which currently occupies 120,000 square feet at 111 West Illinois. Both 20 West Kinzie and 111 West Illinois in the River North market are owned by The Alter Group, which awarded the leasing responsibilities to Mr. Ward upon his move to NGKF to maintain the momentum and performance on the assets.
“The downtown Chicago office market is an ever-changing landscape and NGKF’s full-service platform is equipped to best meet our clients’ needs,” said Mr. Ward. “To that end, the leadership of parent company BGC Partners and its affiliate Cantor Fitzgerald is unequaled in commercial real estate and bolsters NGKF’s ability to capture even more of Chicago’s downtown business.”
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 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. (NASDAQ: BGCP), a leading global brokerage company primarily servicing the wholesale financial and real estate markets. For further information, visit www.bgcpartners.com.