Newmark is pleased to announce it has recently arranged two significant leases, on behalf of a Tier 1 automotive supplier, located in Warren and Fraser, Michigan. Newmark Senior Managing Director Chris Dowell represented the Tier 1 automotive supplier in both lease transactions, which signify two of the largest facilities to lease so far in 2019 in Macomb County.
“Due to our undisclosed client’s recent growth, the company was in need of additional space,” said Dowell. “With the current strong industrial market and very little vacancy, finding the location and square footage needed proved impossible. I knew I had to get creative and show my client options; therefore, I assembled a list of buildings, both public and off-market options, that could accommodate its growth requirement, but in two buildings instead of one. After months of negotiations both leases were signed within 48 hours of each other.”
The Tier 1 automotive supplier signed a new, long-term 311,123-square-foot lease at 27027 Mound Road in Warren. Previously occupied by Kuka and Beaumont Hospital, the facility is located off of the I-696 freeway and features ESFR sprinklers, several dock high-doors and truck wells. The second lease the firm signed is a 164,153-square-foot lease at 17085 Masonic Boulevard in Fraser. 17085 Masonic Boulevard features heavy cranes, several dock high-doors and land for expansion possibilities.
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.
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