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Newmark Grubb Knight Frank (NGKF) has been hired to market and lease a key modern distribution facility located at 1250 George Road in Ashland, Ohio. The property, situated on nearly 39 acres, was recently purchased by Trident Capital Group.
NGKF’s Terry Coyne, executive managing director in the Cleveland office, is seeking to fill 600,000 square feet for Trident Capital Group. The lease rate is $4.00 per square foot, triple net.
Originally constructed in 2001 for McGraw-Hill Companies by Pizzuti Construction of Columbus, the facility’s excellent central location and accessibility to a strong network of highways, interstates and regional airports, made it an attractive investment for Trident. The building also features an air conditioned 19,600-square-foot office area, concrete tilt-wall panel construction, a metal roof system, 36’ clear ceilings, a 130-foot concrete truck court, dock-high overhead doors, 25 docks, ESFR fire protection and parking for 181 automobiles and 10 trailers.
About Trident Capital Group
With offices in Wellesley, Massachusetts and Columbus, Ohio, Trident Capital Group was formed to acquire, manage and redevelop industrial properties in primary and select secondary markets. The unique sector approach leverages its principals’ experience within the asset class, targeting superior risk-adjusted returns through an opportunistic strategy. Since 2008, Trident Capital Group has acquired over 9 million square feet within the industrial space.
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 12,000 professionals operate from more than 330 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/.