Newmark Grubb Knight Frank (NGKF) represented the American Egg Board (AEB) in a long-term, 9,600-square-foot lease at 8755 W. Higgins Road (O’Hare Plaza) in Chicago. The AEB signed the lease following NGKF’s strategic analysis of suitable, local options for the company’s new headquarters. The AEB’s mission is to increase demand for eggs and egg products through research, education and promotion.
Relocating from 1460 Renaissance Drive in Park Ridge, Illinois after nearly 40 years of tenancy with multiple leased floors, the AEB selected NGKF to assist in finding a more efficient space for its headquarters. NGKF’s Senior Managing Director Corey B. Chase led the brokerage team representing the AEB in the search for its new space. Chase provided site selection analysis for AEB, along with lease negotiations and financial analyses. The team ultimately secured 9,600 square feet at O’Hare Plaza based on its location, modern amenities and floor plan. The AEB will take occupancy of the new Class A space in January 2017.
“The AEB was in need of a more efficient space to fit into the company’s overall long-term business plan,” said Chase. “After an extensive search, O’Hare Plaza was the best fit due to it being in the AEB’s preferred location, while also offering first-class amenities, newly renovated spaces and a floor plan that can house all of its employees in one suite.”
O’Hare Plaza consists of four internally connected buildings. Located immediately off of I-90 near O’Hare International Airport, it offers highway visibility and is within walking distance to the CTA “L” station and the Marriott O’Hare Hotel. O’Hare Plaza also features recently upgraded lobbies and common areas, security, covered parking, a newly renovated conference facility, exercise center, café, on-site management as well as a carwash and detailing service. Rick Benoy of JLL represented ownership in the transaction.
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 14,100 professionals operate from more than 400 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/.