Back row, from left to right:
Rob Damrat, Barings; Charles Buckner, Barings; Jim Martel, Ridge Development; and Adam Marshall, Newmark
Front row, from left to right:
Pam Boneham, Barings; Elena Walsh, Barings; Darcie Fankhauser, Ridge Development; and Elise Couston, Newmark
Newmark has been appointed as the exclusive leasing agent for a 186,000-square-foot industrial spec development at 1365-1395 Brewster Creek Boulevard within the Brewster Creek Business Park, a 486-acre master-planned industrial park in Bartlett, Illinois. The Groundbreaking for the new facility took place late last month with completion expected for Fourth Quarter 2017. Newmark’s Senior Managing Director Elise Couston, SIOR represents the contract purchaser, Barings Real Estate Advisers, acting on behalf of an institutional investor. The firm’s Senior Managing Director Adam Marshall, SIOR, CCIM and Director Mark Deady, CCIM represents the seller, Ridge Development, the industrial development arm of Transwestern Development Co.
“Barings is seeking to invest in high quality, state-of-the-art, newly-constructed industrial assets with proximate access to the Elgin O’Hare Expressway, which will also benefit from the DuPage submarket’s strong demand and low vacancy. We are confident that this property will provide a solid return for our client,” said Pam Boneham, managing director at Barings. Couston added, “Available for pre-lease as a single or multi-tenant facility, Ridge Brewster Creek II, is an ideal location for light manufacturing, food processing, and warehouse-distribution users looking for brand new space in a well-located business park that can be finished to suit their functional requirements.”
Once completed, Ridge Brewster Creek II will be a 186,000-square-foot state-of-the-art, industrial building, located at the intersection of Stearns and Munger Roads just west of Route 59. The 10.5-acre site features proximity to Interstates 90 and 390, as well as O’Hare International Airport. The new building will feature 32’ clear ceiling heights, 50’-by-50’ column spacing, ductilcrete floors, an ESFR sprinkler system, up to 35 exterior docks, two grade-level doors, and parking for 224 cars. The property will also offer dedicated, off-building trailer parking.
Barings is a $288 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 600 investment professionals and offices in 16 countries. Learn more, at www.barings.com.
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.
*As at June 30, 2017.
Newmark is one of the world’s leading commercial real estate advisory firms. 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. Newmark’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
Newmark is a part of BGC Partners, Inc., 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 (NASDAQ: 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 (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com.