Chicago, IL (11/11/2016)
Newmark Grubb Knight Frank (NGKF) represented long-time client, LeSaint Logistics, LLC, in the subleasing of 190,706 square feet at 750 Veterans Parkway in Bolingbrook, Illinois. LeSaint signed the sublease at the facility following a strategic analysis of local options.
Founded in 1983, LeSaint Logistics, LLC is a third-party logistics provider, developing customized, knowledge-based, and integrated supply chain solutions for customers from a wide range of industries. With more than 15 facilities across the United States, LeSaint offers comprehensive logistics services from warehousing, transportation and fulfillment to inventory management and value-added services. NGKF has represented LeSaint since 2006. Most recently, NGKF advised and represented LeSaint in September of this year in the renewal of its 94,584-square-foot lease at 868 W. Crossroads Parkway in Romeoville, Illinois.
"LeSaint was in need of an additional location based on the firm's continued growth in the Chicago marketplace," said Corey B. Chase, senior managing director in NGKF's Chicago office. "After an extensive search, 750 Veterans Parkway was the best fit due to it being in proximity to LeSaint's Romeoville location while also offering immediate access to two full interchanges and low Will County taxes." Chase led the NGKF brokerage team along with Josh Young, SIOR, senior managing director. Chase and Young assisted in the firm's financial analysis, market education, site selection analysis as well as negotiations.
Built in 2007, 750 Veterans Parkway is a 228,494-square-foot industrial warehouse on 13.53 acres. The property's location offers immediate access to two full interchanges at I-55 and I-55 Weber Road. 750 Veterans Parkway features 51 exterior docks, one drive-in door, 30' clear height, T-5 lighting, ESFR sprinklers as well as ample car and trailer parking. Dan Smolensky, SIOR, principal of Taurus Modal Group, represented the sub-landlord in the transaction.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world's leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF's 14,100 professionals operate from more than 400 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF's strong foundation makes it one of the most trusted names in commercial real estate. NGKF'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; capital markets services, including investment sales, debt placement, appraisal, and valuation 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.
NGKF 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 http://www.bgcpartners.com/.