Newmark is pleased to announce the sale of 1875 Stephenson Highway, a 22,000-square-foot industrial warehouse in Troy, Michigan. Newmark’s Senior Managing Director Geoff Hill and Associate Paul Gyarmati represented the seller, National Print and Mail, in the transaction. The property sold to SourceHub for an undisclosed amount.
Built in 1965, 1875 Stephenson Highway is situated on two acres and features LED lighting, warehouse and office space, and one acre of outdoor, paved, secure storage. The property benefits from its location just seconds from I-75 with excellent highway frontage.
SourceHub, an online distributor of warehousing and facility equipment, acquired the property due to the firm’s recent growth and need for additional space. The firm is relocating to 1875 Stephenson Highway from 2200 Stephenson Highway, where it leased 9,000 square feet. The firm will take occupancy of its new space in July 2018.
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”.
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