Newmark Knight Frank (NKF) is pleased to announce that the firm arranged the successful sale-leaseback of 1343 27th Street in Caledonia, Wisconsin on behalf of the buyer, an undisclosed publicly traded investment company. The acquisition of the 53,680-square-foot industrial property includes a long-term leaseback to the tenant.
With a desire to expand its Wisconsin portfolio, NKF Senior Managing Director Sergio Chapa, SIOR, in cooperation with Senior Managing Director Corey Chase, assisted the buyer with its site selection and negotiations. Chapa and Chase ultimately helped the undisclosed publicly traded investment company secure 1343 27th Street due to location and favorable terms, including a new long-term lease with the tenant. Jon Henderson of Jon Henderson Real Estate represented the seller and tenant in the transaction.
“We are pleased to have assisted our client in expanding its Wisconsin portfolio,” said Chase. “This asset is a great addition to the firm’s portfolio given the location of the facility and the strength of the tenant. The buyer also liked the ongoing growth and low vacancy rates in southeast Wisconsin and this building checked all the boxes for them.”
Built in 2015, 1343 27th Street is a Class A, single-story, 53,680-square-foot industrial facility. The property features 18’ ceilings, one exterior dock, two drive-in docks and tollway visibility.
The tenant entered into a long-term lease agreement at 1343 27th Street and will occupy 100 percent of the facility.
About Newmark Knight Frank
Newmark Knight Frank (“NKF”), operated by Newmark Group, Inc. (“Newmark”), is one of the world’s leading commercial real estate advisory firms. Newmark has over 4,600 employees in over 120 offices. Together with London-based partner Knight Frank and independently-owned offices, NKF’s 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents. With roots dating back to 1929, NKF’s strong foundation makes it one of the most trusted names in commercial real estate. We offer a complete suite of services and products for both owners and occupiers across the entire commercial real estate industry.
Our investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting and, under trademarks and names like Berkeley Point and NKF Capital Markets, government sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Our 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. We enhance these services and products through innovative real estate technology solutions and data analytics designed to enable our clients to increase their efficiency and profits by optimizing their real estate portfolio. We have relationships with many of the world’s largest commercial property owners, real estate developers and investors, as well as Fortune 500 and Forbes Global 2000 companies. For further information, visit www.ngkf.com.
Newmark, which is listed on the NASDAQ Global Select Market under the symbol “NMRK”, is a publicly traded subsidiary of BGC Partners, Inc. (“BGC”), 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 “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 “BGCA”.
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Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s and BGC’s Securities and Exchange Commission filings, including, but not limited to, any updates to such risk factors contained in subsequent Forms 10-K, 10-Q, or Forms 8-K.