Newmark is pleased to announce it has recently arranged the sale of 133 N. Swift Road in Addison, Illinois. Newmark Senior Managing Director Corey Chase and Associate David Stremler represented the seller, a private investor, in the transaction. Bridge Development Partners purchased the facility for an undisclosed amount.
While the sale of 133 N. Swift Road was underway, Chase completed a long-term, 87,640-square-foot lease renewal, keeping the property at full occupancy. The lease was signed by Associated Material Handling Industries, Inc., a supply chain solutions firm and distributor of lifting equipment. Chase represented Associated in the transaction, who also received a tenant improvement package from new ownership.
“We are thrilled to have been a part of this transaction at 133 N. Swift Road,” stated Chase. “Having Associated renew its lease while the building was under contract was ideal for both parties. Not only was the asset one of the few quality buildings available in the area, but it also offers an excellent location off of I-355, making it a very attractive opportunity for the buyer. It was a win for all parties involved.”
A 4.65-acre site built in 2008, 133 N. Swift Road consists of 62,640 square feet of warehouse space with 29’ ceiling height and 25,000 square feet of office space. The facility features ESFR sprinklers, two training rooms, three interior docks, one drive-in door, 128 parking spaces, as well as signage opportunity with immediate visibility from I-355.
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. Newmark Group is a publicly traded subsidiary of BGC Partners, Inc. (“BGC”) (NASDAQ: BGCP), a leading global brokerage company servicing the financial and real estate markets.
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