Newmark Grubb Knight Frank (NGKF) announces the lease negotiation for the new 49,386-square-foot North American headquarters of Sypris Electronics, a high-tech manufacturer in Tampa, and the new listing of the 400-acre U.S. 41 Industrial Park in Hillsborough County, Florida.
John Esposito, a senior managing director at NGKF, represented the tenant Sypris Electronics, LLC, a world-class, integrated systems solutions provider, in the long-term lease negotiations for its corporate headquarters and manufacturing facility.
The lease NGKF structured will generate extensive savings through the tenant “right sizing” together with an aggressive economic package. Due to the trend of smaller electronic devices, Sypris was able to take advantage of an economically beneficial down-sizing of their space. The impending relocation will also allow Sypris to remain in proximity to their current location and operate in a newer facility thereby increasing efficiency and lowering operating costs. The property is close to nearby restaurants, child-care and retail shops.
“It was an honor to have worked on this substantial transaction and to have one of the area’s premier technology companies remain in Tampa Bay,” said Esposito. “The surrounding counties were aggressively pursuing Sypris’ relocation via incentive packages.”
NGKF Senior Managing Director Rick Narkiewicz is the listing broker for U.S. 41 Industrial Park. The property boasts a 48-inch Natural Gas pipeline, immediate access to the Port of Manatee, rare heavy industrial zoning, master water retention, nearly an unlimited amount of electric service available via Florida Power and Light and is rail served.
“This is an exceptionally unique property to go on the market given its enviable location,” said Narkiewicz. “The property is ideally located, benefiting from easy access to the I-75 and Big Bend interchange, its proximity to Port Redwing and is bounded on the east by the CSX Railroad, which can accommodate a spur into the site.”
About Sypris Electronics, LLC
Sypris is a global, integrated security solutions provider serving the Government and Commercial sectors. Sypris is well known for leadership in cryptography, key management, identity authentication and access management, cyber security operations, and associated professional services. Sypris promotes an agile, innovative culture and state-of-the-art solution sets by strategically partnering with leading-edge technology companies, agencies and universities. With 50 years of experience, Sypris is proud to develop, manufacture and integrate leading technologies that secure our global partners’ interests. For more information, please visit www.sypriselectronics.com.
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 12,800 professionals operate from more than 370 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/.