Newmark is pleased to announce that it has recently completed a 247,060-square-foot lease renewal and expansion to Nypro, Inc. at 112 Barnum Road in Devens, Massachusetts. Newmark Executive Managing Directors J.R. McDonald and Torin Taylor, along with Associate Ross Gaudet, represented the property ownership group, Artemis Real Estate Partners, Drake Real Estate Partners and Pacer Partners, in the lease negotiations.
112 Barnum Road is a 402,249-square-foot, state-of-the-art manufacturing building. The facility was constructed in 2008 as a solar panel facility for Evergreen Solar. Built with the highest quality standards available, the design, quality and infrastructure is unmatched in New England. 112 Barnum Road’s location within the Devens Industrial Park offers easy access to I-495 and Route 2.
Founded in 1955, Nypro, Inc., a Jabil Company, offers healthcare customers the widest array of design and manufacturing capabilities in the industry. Nypro’s customer-focused services range from ideation to device development support, engineering, supply chain optimization and device assembly operations. The firm expanded its lease at 112 Barnum Road from 215,790 square feet to 247,060 square feet.
“Nypro, Inc.’s expansion/extension is a testament to the excellent infrastructure and value that is offered at 112 Barnum Road,” said McDonald. “It is also the result of Nypro Inc.’s strong core business and its commitment to Devens, MA.”
About Artemis Real Estate Partners
Artemis Real Estate Partners is an investment fund manager based in Washington DC, New York City, Los Angeles and Atlanta. Artemis manages approximately $4.2 billion of discretionary capital on behalf of institutional investors across value-add, opportunistic, and enhanced core strategies. The firm makes both equity and debt investments across the domestic United States, with a focus on apartments, office, industrial, retail, hotel, and senior housing. Artemis specializes in joint venture partnerships and direct investments. More information can be found at www.artemisrep.com.
About Drake Real Estate Partners
Founded in 2012, Drake Real Estate Partners is a real estate investment firm based in New York. Capitalizing on the value gap that exists in markets that receive little press, Drake Real Estate Partners acquires and repositions fundamentally solid, income-generating real estate.
About Pacer Partners
Pacer Partners is a boutique real estate investment and asset management company with offices in the New York City and Boston areas. Pacer was founded by Jon Bourbeau, who was formerly one of the top tenant advisors in the country. The firm’s executive team has extensive experience across investing, capital markets, leasing, management, and advisory at large institutions. Pacer pursues thematic real estate investment strategies that provide opportunities to purchase high quality real estate at a discount to intrinsic value. Pacer employs a value investing philosophy with a rigorous focus on underwriting, due diligence, asset management and ultimate disposition. Underwriting is based on multiple well-defined discrete cash flow scenarios. Pacer seeks to build long-term partnerships and generate attractive risk-adjusted returns for its partners, investors and lenders.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 16,000 professionals operate from approximately 430 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.
Discussion of Forward-Looking Statements about Newmark Group
Statements in this document regarding Newmark Group that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. Except as required by law, Newmark Group undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark Group’s Securities and Exchange Commission filings, including, but not limited to, any updates to such risk factors contained in subsequent Forms 10-K, 10-Q, or Forms 8-K.