Home > Media Center > Press Releases Detail

Press Releases


NKF Secures 230,805 SF Long-Term Industrial Lease in North Jackson, Ohio

Cleveland, OH (12/04/2017)

9:00 AM

Newmark Knight Frank (NKF) is pleased to announce that Vice Chairman Terry Coyne, SIOR, CCIM, completed a new, 230,805-square-foot, long-term lease to The Palmer-Donavin Manufacturing Company at 382 Rosemont Road in North Jackson, Ohio, on behalf of the property owner, STAG Industrial.

Built in 2001 on 22 acres, 382 Rosemont Road is a 307,315-square-foot industrial warehouse facility located in southeast Ohio and western Pennsylvania's industrial business region. As a former steel service center, the property features 24'-38' clear ceiling heights and heavy cranes. In order for this lease to transact, the landlord enhanced the facility by installing ESFR sprinklers, building office space and adding docks. Palmer-Donavin will take occupancy of its new space at 382 Rosemont Road by the end of this year.

"We are pleased to have completed this transaction on behalf of STAG Industrial," said Coyne. "This new space offers Palmer-Donavin a well-maintained property with great access to I-76 and the Ohio Turnpike." Coyne represented STAG Industrial in the lease negotiations and will continue to market the remaining 76,510 square feet available. "This additional space has received the benefit of the upgraded amenities that the landlord invested in so that the building would be attractive to another user," Coyne added.

STAG Industrial, Inc. is a real estate investment trust (REIT) focused on the acquisition and operation of industrial properties throughout the United States. The company's portfolio consists of 347 properties in 37 states with approximately 69 million rentable square feet; 26 properties totaling 5.8 million square feet are in the state of Ohio.

Coyne represented STAG Industrial in the transaction and David Ford and Michael Mullady of CBRE represented Palmer-Donavin.

About Newmark Knight Frank
Newmark Knight Frank (NKF) is one of the world's leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NKF'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, NKF's strong foundation makes it one of the most trusted names in commercial real estate. NKF's full-service platform comprises BGC's real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; NKF Capital Markets services, including investment sales, debt placement, valuation and advisory services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.

NKF is a part of BGC Partners, Inc., 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 (NASDAQ: 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 (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com.