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Newmark is pleased to announce that it has successfully represented Ride Right in leasing 24,000 square feet at 817 W. Howard Lane in Austin, Texas. Ride Right signed the long-term lease following Newmark’s strategic analyses and negotiation of suitable, local options for the growing firm.
Headquartered in St. Louis, Missouri, Ride Right is a transportation firm offering solutions for paratransit, non-emergency, fixed route, shuttle, special needs transportation and mobility management. Ride Right provides more than one million trips per year in Florida, Indiana, Missouri, Michigan, New Mexico, New York, North Carolina, Ohio, Pennsylvania and Texas. The firm selected Newmark to assist in finding an additional location in Austin due to a recent expansion. Newmark Associate Jacob Hernandez led the brokerage team representing Ride Right in cooperation with Senior Managing Director Corey Chase. The team provided site selection services for Ride Right, along with lease negotiations and financial analyses, ultimately securing the long-term lease at 817 W. Howard Lane based on its strategic location and large parking lot for Ride Right’s vehicles. The firm is taking occupancy of the new space this month.
“I have had the pleasure in representing Ride Right, an Newmark national client, on multiple transactions over the years,” said Chase. “We are pleased to assist this client yet again, this time in re-assessing Ride Right’s strategy and expanding its footprint in Austin, Texas.”
“Ride Right was in need of an additional, well-located space to support the company’s overall long-term business plan,” said Hernandez. “817 W. Howard Lane used to be an airport hangar, so the clear span warehouse space and abundance of parking was a perfect fit for our client.”
The selected property features 24,000 square feet of warehouse/flex/office space, clear span warehouse, grade level loading, outside storage and heavy parking. Situated amongst the 220-acre Tech Ridge Business Park, 817 W. Howard Lane offers easy access to IH-35, TX-Loop1, TX-45, TX-130 and is located approximately eight miles from Austin’s Central Business District.
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”.
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. 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 and BGC’s Securities and Exchange Commission filings, including, but not limited to, any updates to such risk factors contained in subsequent Forms 10-K, 10-Q, or Forms 8-K.