April 29, 2021 10:00 AM
Newmark announces a full-building, 44,300-square-foot new lease of 490 Windy Point Drive in Glendale Heights, Illinois. Newmark Senior Managing Director Corey B. Chase represented the tenant, Associated. With over 60 years of supply chain experience, Associated provides innovative material handling, supply chain and warehousing solutions to meet customer requirements. Associated is an authorized Raymond Solutions and Support Center.
“Associated was seeking offsite warehouse space to complement their existing 87,000-square-foot headquarters in Illinois,” said Corey. “As e-commerce and supply chain health continue to be a vital component of the industrial real estate market, in the Midwest and beyond, we were thrilled to find our client a space that can accommodate their business and its growth.”
The property–which is proximate to I-355 via North Avenue and Army Trail Road–features 2,300 square feet of office space, recently updated interior finishes and fenced outdoor storage access. According to Newmark Research, the industrial market in the Chicagoland area absorbed 5.7 million square feet of space, vacancy dropped 60 basis points to 6.2% and rental rates held steady at a record high of $5.86/SF in the first quarter of 2021. Industrial leasing activity continued to strengthen, with several mid-size leases being signed during the quarter.
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate services, with a comprehensive suite of investor/owner and occupier services and products. Our integrated platform seamlessly powers every phase of owning or occupying a property. Our services are tailored to every type of client, from owners to occupiers, investors to founders, growing startups to leading companies. Harnessing the power of data, technology, and industry expertise, we bring ingenuity to every exchange, and imagination to every space. Together with London-based partner Knight Frank and independently owned offices, our 18,800 professionals operate from approximately 500 offices around the world, delivering a global perspective and a nimble approach. In 2020, Newmark generated revenues in excess of $1.9 billion. To learn more, visit nmrk.com or follow @newmark.
Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the effects of the COVID-19 pandemic on the Company’s business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.