Newmark announces a new build-to-suit lease has been secured between Nexus and CCD Enterprise Acquisition, the owner of 5600 Schertz Parkway in Schertz, Texas. Nexus will occupy the single-story, tilt-wall-construction office building, measuring 36,450 rentable square feet. Newmark Associate Director Scott Lewis represented Nexus on the build-to-suit lease transaction.
“We have a great story to tell with the Nexus lease build-to-suit,” commented Newmark’s Lewis, the national tenant representation lead for Nexus. “The transition from a multi-tenant building to occupying a single-tenant space allows the healthcare and insurance clinical review organization to elevate their brand significantly while maintaining 100% control of the asset from a tenant perspective. Additionally, the move from New Braunfels to up-and-coming Schertz created city tax incentive opportunities that were valuable to Nexus and reflected the community benefits of attracting a dynamic and rapidly growing employer.”
“This move is impactful because it positions the Nexus headquarters in closer proximity to our workforce and San Antonio’s thriving medical community,” added Ed Bolton, CEO and President at Nexus. “We launched Nexus in San Marcos over a decade ago and as our operations have grown, we have realized we continue to draw talented professionals from the San Antonio market. We see this move south as a strategic advantage to accommodate our existing team and enhance future recruitment efforts for continued business growth. Newmark’s insight has been imperative for the development of our business plan.”
“As we seek to grow Schertz, we want to attract companies that better align with the workforce of our residents,” added Kyle Kinateder, Executive Director of Economic Development for the City of Schertz. “In short, we believe that this strategy creates new opportunities for office development along the Interstate 35 Corridor. We’re pleased to partner and offer incentives that encourage companies, like Nexus, to choose Schertz for their headquarters.”
“It was a great opportunity for our Newmark team to work with Nexus, helping to identify a location and space that works for both the company’s business plan and the needs of its employees,” said President, Texas Regional Manager and Vice Chairman Neal Golden of the transaction.
With locations in New Braunfels, Texas, and Salt Lake City, Utah, Nexus serves a diverse customer base providing clinical review services to those with exposure in workers’ compensation, group health, auto/general liability, disability and legal. Nexus’ client portfolio includes third-party administrators, hospitals, brokers, consultants, attorneys, and employers directly. As part of a multi-year strategic growth initiative, the company plans to expand their operations to include locations in the northeastern and southeastern U.S. Employing approximately 100 professionals in its headquarters location, Nexus expects to occupy its new Schertz location in the second quarter of 2020.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently owned offices, Newmark’s 16,000 professionals operate from approximately 430 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. 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. For further information, visit www.ngkf.com.
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