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Newmark Grubb Knight Frank (NGKF) has been appointed as the exclusive broker in the sale and marketing of Centreport Industrial Park, a master planned, 3.2 million-square-foot, speculative industrial development within the city of Chicago consisting of approximately 197 acres, the largest contiguous piece of industrial land available within Chicago’s city limits.
Centreport Industrial Park presents users, developers and investors with a unique opportunity to secure prime, contiguous parcels of entitled industrial land within the city of Chicago. Located conveniently to the south of Chicago’s vibrant central business district, Centreport Industrial Park offers users, developers or investors the ability to develop 3.2 million square feet in a contemporary, state-of-the-art business park environment. Located minutes from I-90 and I-94 with immediate access to I-80, the park features on-site access to the Norfolk Southern rail line and the Calumet River and Lake Calumet port services as well as high power and fiber amenities.
NGKF’s Executive Managing Director Kenneth Szady and Managing Director Krysti Galvin will lead the national marketing campaign on behalf of ownership. The team will coordinate the national resources of NGKF’s 400+ industrial professionals to attract local, regional, national and multi-national users, developers and investors seeking Class A industrial property in a Tier 1 market.
“Situated on 197 contiguous acres within Chicago’s city limits, this Property offers the rare ability to develop a large industrial park in the city of Chicago versus the suburbs, where acreage is typically available, making for a strong investment opportunity for users, developers or investors,” said Szady.
“User demand for infill locations that service major cities, like Chicago, is high,” added Galvin. “Recent announcements of the Amazon and Samsung facilities in parks to the West are indicative of the continuing need for this type of product in strong locations like Centreport.”
Located on Avenue O and 116th Street, the planned industrial park will comprise of approximately 14, 300,000-square-foot buildings, although other sizes to-suite are available, and feature on-site port and rail access, high power and fiber amenities. The park will benefit from incentive packages from the city and state, 6B tax incentives as well as access to major highways, which allows tenants to service downtown Chicago.
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/.