Newmark Grubb Knight Frank (NGKF) is pleased to announce that Adam Marshall, CCIM, recently completed the 110,343-square-foot building sale of 2545 Northwest Parkway in Elgin, Illinois. Marshall represented the property owner, Zilber Property Group, as well as the buyer, Bucher Hydraulics.
Marshall and co-broker, Joe Bronson, SIOR, executive vice president of NAI Hiffman, represented the property owner, Zilber Property Group, in the transaction. The 110,343-square-foot industrial facility is located in Northwest Corporate Park and is adjacent to several retail, restaurant, hotel and child care facilities. Built in 1999, the building features high-end, two-story offices that are 23,200 square feet. Additional features include 24’ clear ceilings, seven docks, eight drive-in doors as well as 2,400 amps power.
Marshall also represented the buyer of 2545 Northwest Parkway, Bucher Hydraulics, an international provider of innovative hydraulic drive and control technologies for mobile and industrial hydraulic applications. Bucher Hydraulics is relocating from 1331 Davis Road, also in Elgin, where they occupied 42,531 square feet.
“Bucher Hydraulics was in need of a larger facility in Elgin to house their expanding manufacturing operations,” Marshall said. “2545 Northwest Parkway was ultimately selected due to its modern environment and high-profile image which provides the infrastructure, square footage and corporate office space needed to sustain their current and future growth.”
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/.