Newmark Capital Markets has successfully orchestrated the sale of 440 S. McLean Boulevard in Elgin, Illinois to Plymouth Industrial REIT, Inc. Senior Managing Director Adam Marshall, SIOR, CCIM, and Managing Director Boris Shraybman, oversaw the transaction of the 74,613-square-foot asset on behalf of the seller, a private ownership group. Bryan Bartlett, senior vice president and principal of Newmark Grubb Phoenix Realty Group, represented Plymouth in the acquisition.
440 S. McLean is situated within a well-established industrial enclave located on the southwest quadrant of the four-way interchange at S. McLean Boulevard and Route 20. The building is located less than four miles south of I-90 and is within a 30-minute drive to Chicago O’Hare International Airport. 440 S. McLean is 100 percent occupied by Advance Engineering Corporation (AEC), which has occupied the building since 2006. In business for over 75 years, AEC is a recognized national leader in providing the natural gas industry market with fabricated meter sets and piping.
“As a mission-critical, 100 percent net leased industrial facility in the heart of Elgin, 440 S. McLean represented a premier investment opportunity,” said Marshall. “Furthermore, the asset’s long-term viability is solidified by the combination of access to major transportation linkages and access to Elgin’s deep, diverse labor pool.”
Plymouth is a full-service real estate investment company structured as a vertically integrated, self-administrated and self-managed real estate investment trust focused on the acquisition, ownership and management of single and multi-tenant industrial properties, including distribution centers, warehouses and light industrial properties, primarily located in secondary and select primary markets across the United States.
About Newmark Capital Markets
Newmark Capital Markets, operated by Newmark Group, Inc., is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, our 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents.
With roots dating back to 1929, our strong foundation makes us one of the most trusted names in commercial real estate. We provide access to a wide range of services, including asset sales, sale leasebacks, mortgage and entity-level financing, equity raising, underwriting and due diligence. The transactions we broker involve vacant land, new real estate developments and existing buildings. We specialize in arranging financing for most types of value-added commercial real estate, including land, condominium conversions, subdivisions, office, retail, industrial, multifamily, student housing, hotels, data center, healthcare, self-storage and special use. For further information, visit www.ngkf.com/capitalmarkets.
Newmark Group, Inc., which is listed on the NASDAQ Global Select Market under the symbol “NMRK”, is a publicly traded subsidiary of BGC Partners, Inc. (“BGC”), 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 “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 “BGCA”.
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