Newmark Knight Frank (NKF) is pleased to announce that Senior Managing Directors Sergio Chapa, SIOR, and Michael Prost, in cooperation with Senior Managing Director Corey Chase, have recently represented Venture One Real Estate in its successful purchase of 7601 Durand Avenue in Sturtevant, Wisconsin. Subsequently, NKF has been appointed as the exclusive broker in the sale or lease offering of the same property, the largest available warehouse in Racine County, on behalf of new ownership.
“Our team leveraged our considerable market presence and depth of knowledge to expeditiously secure 7601 Durand for Venture One,” said Chase. “The 350,274-square-foot warehouse is situated on 23 acres, or approximately one million square feet, offering substantial room for growth, if needed. Furthermore, Venture One and future users will also benefit from the low real estate taxes and proximity to I-94.”
Venture One has plans to renovate 7601 Durand, including renovations in the office and warehouse space including a new roof, docks, paint, carpet, lights, facade and parking lot repairs. The renovations are scheduled to begin immediately.
Located 35 minutes south of Milwaukee, Wisconsin, and 55 minutes north of Chicago O’Hare International Airport, 7601 Durand Avenue offers easy access to I-94, both major markets and is less than two miles from Foxconn Technology Group’s massive new development. The property features 24,000 square feet of open office space, 24’ ceiling height, 30 dock doors, one drive in door as well as trailer storage.
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”.
Discussion of Forward-Looking Statements about Newmark
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.