Newmark Knight Frank (NKF) is pleased to announce that it has successfully orchestrated two industrial investment sales totaling approximately 75,000 square feet in the Chicagoland area.
In the first transaction, Senior Managing Director Adam Marshall, SIOR, CCIM, along with Managing Director Boris Shraybman of NKF’s Chicago Capital Markets team, arranged the successful sale of 1275 Karl Court in Wauconda, Illinois, a 56,579-square-foot, high cube distribution facility. NKF represented the seller, a private investor, in the sale. The facility, which sold to One Liberty Properties for an undisclosed amount, was sold 100 percent net leased. Before marketing 1275 Karl Court for sale, NKF represented the owner in arranging the full-building lease to ECHO Incorporated, a developer and manufacturer of professional grade handheld outdoor power equipment. Nick Walby of Entre Commercial Realty LLC represented ECHO Incorporated in the lease negotiations.
“Having 1275 Karl Court fully leased to ECHO Incorporated provided investors with the opportunity to acquire a high cube distribution facility that is 100 percent net leased by strong credit tenancy,” stated Marshall.
Marshall and Shraybman also successfully orchestrated the sale of 561-575 S. Arthur Avenue in Arlington Heights, Illinois, on behalf of a private owner. The 18,557-square-foot multi-tenant industrial facility was acquired by a private investor for an undisclosed amount. The facility was purchased 100 percent leased to multiple tenants, including Bosch Tools.
“We are pleased to have represented the seller in this transaction,” said Marshall. “This property offered investors the opportunity to acquire a 100 percent leased multi-tenant light-industrial facility located within an in-fill submarket and anchored by a strong credit tenant.”
About Newmark Knight Frank
Newmark Knight Frank (“NKF”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, NKF’s 16,000 professionals operate from approximately 430 offices on six continents. NKF’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.
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