Newmark is pleased to announce that Senior Managing Directors Elise Couston, SIOR, Adam Marshall, SIOR, CCIM, along with Director Mark Deady, CCIM, in the company’s Chicago office, recently completed three new leases totaling 118,000 square feet on behalf of Barings Real Estate Advisers in support of an institutional investor.
“We are thrilled to welcome all three tenants to Bloomingdale Corporate Center and Brewster Creek Industrial and look forward to a long term relationship with each tenant,” stated Pam Boneham, regional director for the Central U.S. at Barings Real Estate Advisers.
The first two transactions were completed at 260 Madsen Drive in Bloomingdale, Illinois. Couston, Marshall and Deady arranged a new, 50,000-square-foot lease to Reliable Automatic Sprinkler at the property, which is part of Bloomingdale Corporate Center. The firm is relocating to Bloomingdale Corporate Center from 1555 Hunter Road in Hanover Park, Illinois. Sam Durkin of JLL represented Reliable Automatic Sprinkler in the lease negotiations. The second lease at 260 Madsen Drive was a 20,000-square-foot lease signed by Service Spring. This property will serve as a new location for Service Spring’s Midwest operations. Dominic Carbonari of JLL represented the tenant in the transaction.
Newmark’s Couston, Marshall and Deady were appointed the exclusive leasing agents for the Bloomingdale Corporate Center business park properties when it was being developed in 2016. The three-buildings, located at 255, 260 and 270 Madsen Drive, total 276,250-square-feet on 20-acres. The newly-constructed distribution facilities feature substantial loading docks, concrete truck courts, 30’ clear ceilings, Ductilcrete floors, T-5 Lighting as well as ESFR sprinkler systems. They can be finished “to suit” all users. Located near the intersection of Army Trail Road and Gary Avenue in Bloomingdale, this prime location offers easy access to I-355/I-290, the new Illinois Route 390 (Elgin O’Hare Expressway), O’Hare International airport, the College of DuPage Manufacturing Technology Program, and an abundance of retail and dining options.
Additionally, Marshall, Couston and Deady completed a 48,000-square-foot lease to Brolite Products, Inc. at 1331-1337 Schiferl Road in Bartlett, Illinois. Brolite Products, Inc., a manufacturer of high quality baking ingredients, is relocating from 1900 South Park Avenue in Streamwood, Illinois. Marshall, Couston and Deady represented ownership in the transaction and Ken Franzese and Joe Feeney of Lee & Associates represented Brolite Products, Inc. This transaction marks 198,000 square feet of leases Newmark has completed in the last 12 months at the property. Marshall, Couston and Deady will continue to market the remaining 87,000 square feet available.
Completed in September 2016, 1331-1337 Schiferl Road features 32-foot clear ceilings, 36 exterior docks, four drive-in doors and DuPage County property taxes. The property is located within Brewster Creek, a premier 670-acre, mixed-use business park. Tenants enjoy many local amenities in Bartlett including restaurants, day care facilities, gas stations, banks, a Metra station, forest preserves and golf courses. Elgin Community College is also located nearby, which provides workforce recruitment and custom training services with grant support from the Department of Commerce and Economic Opportunity (DCEO).
Barings Real Estate Advisers is part of Barings LLC, one of the world’s largest diversified real estate investment managers. The group is an active investor in private and public, equity and debt markets, and provides core, value-added, and opportunistic investment and advisory services to institutional and other qualified investors around the globe.
Barings is a $299 billion* global financial services firm dedicated to meeting the evolving investment and capital needs of our clients. We build lasting partnerships that leverage our distinctive expertise across traditional and alternative asset classes to deliver innovative solutions and exceptional service. A member of the MassMutual Financial Group, Barings maintains a strong global presence with over 650 investment professionals and offices in 16 countries. Learn more, at www.barings.com.
*As at September 30, 2017.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark”), is one of the world’s leading commercial real estate advisory firms. Newmark has over 4,600 employees in over 120 offices. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents. With roots dating back to 1929, Newmark’s strong foundation makes it one of the most trusted names in commercial real estate. We offer a complete suite of services and products for both owners and occupiers across the entire commercial real estate industry.
Our investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting and, under trademarks and names like Berkeley Point and Newmark Capital Markets, government sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Our 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. We enhance these services and products through innovative real estate technology solutions and data analytics designed to enable our clients to increase their efficiency and profits by optimizing their real estate portfolio. We have relationships with many of the world’s largest commercial property owners, real estate developers and investors, as well as Fortune 500 and Forbes Global 2000 companies. For further information, visit www.ngkf.com.
Newmark, 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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