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Newmark is pleased to announce that the firm has 100 percent pre-leased Livonia Corporate Center (Phase II) on behalf of the developer, Ashley Capital. Located at 28101-28201 Schoolcraft Road in Livonia, Michigan, Livonia Corporate Center (Phase II) is a two-building, 915,000-square-foot, speculative industrial development. Newmark Executive Managing Director Dan Labes and Senior Managing Director Tom Oldham recently completed four leases at the two buildings, pre-leasing them to full occupancy.
Newmark’s Labes and Oldham completed a 590,000-square-foot lease to Penske Logistics, a 185,000-square-foot lease to Experi-Metal Inc., an 80,000-square-foot lease to Orora Fresh, and a 60,000-square-foot lease to Safelite Autoglass. The firms will begin to take occupancy of their new spaces at Livonia Corporate Center (Phase II) in April and May 2018.
“We are very pleased to have pre-leased Livonia Corporate Center (Phase II) to full occupancy,” said Labes. “There are minimal options right now for new, modern industrial facilities in Wayne County. Being the largest spec industrial project in Metro Detroit in over a decade, coupled with strong ownership and an excellent central location, we were able to secure four quality tenants ahead of completion for our client.”
Currently under construction and set for completion in April 2018, Livonia Corporate Center (Phase II) will comprise of a 173,000-square-foot building and a 742,000-square-foot building and will feature numerous truck dock doors, ample trailer staging spaces, ESFR sprinklers, ample car parking and office space to-suit. Livonia Corporate Center (Phase I) was completed in 2000 and consists of two warehouse/distribution buildings totaling approximately 1.1 million square feet that are occupied by tenants such as Ford Motor Company and Veritiv.
About Newmark
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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