Newmark is pleased to announce that Senior Managing Directors Adam Marshall, SIOR, CCIM, and Elise Couston, SIOR, along with Director Mark Deady recently arranged an industrial speculative building forward-sale at 1365-1395 Brewster Creek Boulevard in Bartlett, Illinois. Marshall represented the seller and developer, Ridge Development, and Couston and Deady represented the contract purchaser, Barings Real Estate, part of Barings LLC, acting on behalf of an institutional investor. Ridge Development recently completed construction of the 186,000-square-foot building located in Brewster Creek Business Park. Now ready for occupancy, Newmark has also been appointed by Barings as the exclusive leasing agent and property manager for the vacant facility.
“1365-1395 Brewster Creek Boulevard is the second property that we have acquired in the Brewster Creek Business Park, following the successful lease up of our first investment. With its excellent location in the highly demanded north DuPage submarket of Chicago and state-of-the-art construction, we anticipate this property will benefit from the strong leasing environment in the near term,” noted Michael Zammitti, Head of U.S. Real Estate Equity for Barings.
“We are thrilled to have represented Ridge Development and Barings in this transaction,” said Marshall. “Ridge did a fantastic job developing this modern industrial facility and coupled with its great location and being the newest industrial building in the low-vacancy north DuPage submarket, made for an attractive opportunity for Barings. Now available for lease as a single or multi-tenant facility, 1365-1395 Brewster Creek Boulevard is an ideal location for light manufacturing, food processing, and warehouse-distribution users looking for modern, highly functional space to suit their needs.”
1365-1395 Brewster Creek Boulevard is a brand new, state-of-the-art industrial building located within the Brewster Creek Business Park at the intersection of Stearns and Munger Roads just west of Route 59. The facility features proximity to Interstates 90 and 390, as well as O’Hare International Airport, 32’ clear ceiling heights, 50’-by-50’ column spacing, Ductilcrete floors, an ESFR sprinkler system, 35 exterior docks, two grade-level doors, and parking for 224 cars (expandable). The property also offers dedicated, off-building trailer parking.
Barings Alternative Investments (BAI), part of Barings LLC, is a 400+ associate team located across 11 countries that manages $52.6 billion in client capital. BAI seeks differentiated sources of returns by incorporating decades of investment experience in alternative assets offering investors access to a diverse range of opportunities across private equity, real assets, asset-based investments and the four quadrants of real estate. We serve as a trusted partner to clients, leveraging our global presence and robust origination capabilities to identify the most attractive risk-adjusted return opportunities. As a leading global real estate investor and asset manager, the Barings Real Estate team offers a broad range of investment opportunities across the public and private debt and equity markets, investing across property sectors with a focus on global relative value and trend-backed preferred strategies.
Barings is a $304+ 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. Part of MassMutual, Barings maintains a strong global presence with over 1,800 associates and offices in 16 countries. Learn more, at www.barings.com.
*As of December 31, 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”.
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.