Newmark has been engaged as the office leasing agent for 625 West Adams, a new 438,184-square-foot, 20-story, office development in Chicago’s West Loop, in partnership with White Oak Realty Partners and CA Office. The team was hired by the owners, a joint venture between White Oak Realty Partners, Vanderbilt Partners, CA Office and USAA Real Estate Company, to market and lease the highly-anticipated development.
“We are thrilled to bring this prominent and efficient building to one of the nation’s most prized and sought-after office markets and even more excited to add this group of leasing professionals to our team,” said Tom Saletta of White Oak Realty Partners.
“625 West Adams is strategically positioned to attract the sophisticated, corporate user that understands the economic and cultural benefits of being in a high-performance office building with efficient large floor plates and a full array of in-building amenities,” added John Dempsey of CA Office.
625 West Adams will open April 2018 and offer large, 32,000-square-foot office floor plates, 14-foot slab-to-slab, 10-foot finished ceilings, bright 360-degree views, three outdoor terraces, a wellness/fitness center, 1,000-person auditorium, tenant lounge with Fooda, conference center and a 400-car parking garage. On the ground floor, development will feature an expansive multi-story lobby with a private secured entrance for large users, and a restaurant. Newmark’s Jon Cordell will lead the brokerage team with colleagues Bill Rolander and Jason Houze assigned to lease the office space for the new development.
“250,000 people pass the building every day from the Kennedy, Eisenhower and Dan Ryan expressways, as well as by foot and bike, offering tremendous visibility,” said Cordell. “The large plates, green space and full-service on-site amenities with food options make 625 West Adams the best large-block in the city for the modern HQ looking to recruit and retain the best talent.”
Designed by internationally acclaimed Martin Wolf of Solomon Cordewell Buenz and Associates, 625 West Adams broke ground in Spring 2016 and is located at the southeast corner of Adams and DesPlaines Streets in the West Loop. The property offers immediate access to outdoor space, with its entrance directly across from Heritage Park. 625 West Adams is within walking distance of the Ogilvie Transportation Center and Union Station and numerous food venues. The general contractor for the development is Power Construction.
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.