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Newmark is pleased to announce that the firm arranged the successful sale-leaseback of a Dallas area industrial property on behalf of the buyer, Brennan Investment Group. The acquisition of the 476,341-square-foot facility is valued in excess of $21 million and includes a long-term leaseback to the occupying tenant.
Brennan Investment Group, a Chicago-based private real estate investment firm, acquires, develops and operates industrial properties in select major metropolitan markets throughout the United States. Since its formation in 2010, the firm has amassed a portfolio of over 24 million square feet of industrial property in 22 states. With a desire to expand its Texas portfolio, Newmark’s Senior Managing Director Corey Chase assisted Brennan Investment Group with its selection and negotiations. Chase ultimately helped Brennan Investment Group secure the property due to location and favorable lease terms, including a new long-term agreement with the tenant. Jim Hazard and Brad Struck of E Smith Realty Partners (ESRP) represented the private owner in the transaction.
“We are pleased to have assisted Brennan Investment Group in expanding its Texas portfolio,” said Chase. “This asset is a great addition to Brennan’s portfolio given the optimal location of the facility and the strength of the long-term tenant.”
Situated on 21 acres, the Dallas area, Class A, 476,341-square-foot industrial property includes 38,760 square feet of office space and features 16 dock doors, T-5 lighting throughout, ESFR sprinkler system and ample parking. The facility is ideally located within minutes of I-35E and I-20.
About Newmark
Newmark is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, Newmark’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, Newmark’s strong foundation makes it one of the most trusted names in commercial real estate. Newmark’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.
Newmark 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.