Newmark Grubb Knight Frank (NGKF) announces the lease negotiation for an 117,018-square-foot office and manufacturing facility at 4726 Eisenhower Blvd. in Tampa, Florida. NGKF Senior Managing Director John Esposito represented tenant TRAK Microwave Corporation, a Tampa-based advanced technology product manufacturer owned by Smiths Group, in the lease restructure and extension for its corporate headquarters’ and manufacturing facility. Clay Wommack of Franklin Street Properties represented the landlord, Chew Family Tampa, LLC. in the transaction.
NGKF was able to restructure the long-term lease to significantly lower TRAK’s occupancy costs and secure the required capital from the landlord in order to have necessary improvements made and enhance overall operational efficiency. Plans in the near future call for substantial renovations which will increase the facility’s value and enhance the workplace environment.
“After scouting multiple sites in East Tampa, Pasco County and adjacent to the airport, TRAK chose to remain at this location because of the excellent accessibility to the Veteran’s Expressway and proximity to the airport,” said Esposito. “It’s also conveniently located to Westshore’s restaurants, shopping, hotels and residential neighborhoods. It was a great privilege to have represented one of the premiere technology manufacturers in Tampa Bay and the state of Florida.”
About Smiths Group
Smiths Group, a world leader in the practical application of advanced technologies which make the world a safer, healthier and more productive place to live for over 160 years, is the parent company of TRAK Microwave Corporation. Operating throughout 50 countries with over 23,000 employees, Smiths Group’s five divisions are focused on the threat & contraband detection, medical devices, energy, communications and engineered components markets worldwide for governments and their agencies, hospitals, petrochemical companies and equipment manufacturers. Smiths Group is also publically traded on the London Stock Exchange under the ticker symbol (LSE: SMIN). For further information, visit www.smiths.com.
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/.