Newmark is pleased to announce that Senior Managing Directors Sergio Chapa, SIOR, and Michael Prost, in the company’s Chicago office, recently arranged two industrial leases totaling approximately 80,000 square feet.
“The Southeast Wisconsin industrial market is strong and vacancy rates are low,” said Prost. “By using our resources within Newmark along with our market knowledge, we were able to assist our clients navigate the tight market and create solutions that best fit their respective needs.”
In the first transaction, Paasche Airbrush Company (Paasche Airbrush) leased a 42,235-square-foot speculative building located at 9511 58th Place in Kenosha, Wisconsin. The manufacturer or artist airbrushes, industrial spray guns and spray booths is relocating to Kenosha from 4311 N. Normandy Avenue in Chicago. Recently constructed, 9511 58th Place is located within the Business Park of Kenosha and is strategically located less than two miles from I-94 via WI-158. Chapa and Prost represented Zilber Property Group in the transaction, while Brett Kroner and Keith Puritz of Cushman & Wakefield represented Paasche Airbrush. Paasche Airbrush plans to relocate by the end of 2018.
In addition, Chapa and Prost advised Titan Inc. in a long-term, 37,762-square-foot lease at 1340 Grandview Parkway in Sturtevant, Wisconsin. Originally founded in 1966, Titan is an industry-leading designer and manufacturer of custom-engineered test and assembly systems ideal for applications that require precise gauging, measurement and data acquisition. The firm is relocating to 1340 Grandview Parkway from 9900 Durand Avenue, also in Sturtevant.
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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