Newmark Grubb Knight Frank (NGKF) has been appointed as the exclusive leasing agent for NEC Taylor & Jefferson, a 118,568-square-foot, eight-story, retail development within the Roosevelt/Taylor retail corridor in the South Loop of Chicago. NGKF was hired by the owner, JayTee, LCC, to market and pre-lease the highly-anticipated property.
Set for completion in spring 2017, NEC Taylor & Jefferson will feature four floors of retail space, 209 on-site parking spaces, 20’ ceilings and elevated exposure for tenants with pylon signage. Once complete, the development will offer 118,568 square feet of prime retail space and provide unique floor plans to allow for big box tenants. NGKF’s Senior Managing Directors James Schutter and Terry Alexa will lead the brokerage team assigned to lease the new development.
“NEC Taylor & Jefferson is the next prominent retail development of the dynamic Roosevelt/Taylor retail corridor and once complete, will serve the West Loop, University Village, Bridgeport and China Town neighborhoods,” said Schutter. “The exciting changes in the trade area along with the strong demographic and their purchase power, make this South Loop retail development perfectly positioned to attract national and local brands. In addition, the opportunity to be associated with such a high-quality assignment with aggressive sponsorship and the scarcity of the product at this time is fantastic.”
Located at the intersection of Taylor and Jefferson Streets in the heart of the South Loop, NEC Taylor & Jefferson will offer tremendous visibility from the I-90/94 expressway, be within walking distance to the Clinton and Halsted Blue Line CTA stops and within minutes of the University of Illinois at Chicago. The trade area for the South Loop covers a large market including Bridgeport, China Town, the West Loop, River West and Hyde Park. The area also offers one of the largest concentrations of college students in the country from nearby campuses of DePaul University, Columbia College, Roosevelt University, University of Illinois at Chicago as well as Robert Morris College.
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/.