Newmark has announced the completion of a 771,839-square-foot lease at 1300 California Street in Redlands for DCG Fulfillment, a third-party logistics (3PL) provider. 1300 California Street is a distribution cross-dock warehouse with 36’ minimum warehouse clearance.
Newmark Senior Managing Directors Mark Kegans and Ron Washle represented the tenant in the lease transaction with the owner Black Creek Group. This lease represents an expansion for DCG.
“DCG chose this location because it has good freeway access, ample labor supply, and provides a state-of-the-art high-cube warehouse for its customers,” said Washle.
To underscore demand for Inland Empire industrial space, in late 2017, Kegans and Washle completed a 1.4-million square-foot warehouse lease in Chino for an undisclosed tenant with landlord Majestic Realty Company. The deal represented the largest single building lease transaction to date since 2014 in Southern California. The tenant will occupy the entire building that is now under construction.
According to Newmark’s Inland Empire 1Q2018 Industrial Market report, modern space for consolidation or expansion at competitive rental rates remain a selling point for this market. E-commerce will represent 17 percent of total U.S. retail sales by 2022, and this continues to impact tenant demand. Online retailers, 3PLs and transport-related companies remain especially active.
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”.
Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark 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 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’s and BGC’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.