Newmark Grubb Knight Frank today announced that RCG Management Services, a privately-held real estate investment and property management company founded by local investor Robert Gienko, Jr., leased 48,737 square feet of office space to Brightstar Corp, the world’s largest specialized wireless distributor and a global leader in services and solutions for the wireless industry, at 850 Technology Way in Libertyville, Ill.
The transaction marks one of the largest office leases in the suburban Chicago market in 2012 and represents a significant expansion for Brightstar Corp.
“Brightstar is a dynamic and growing company placed ideally in the middle of the wireless device revolution. It is exactly the type of tenant we look to attract, and I am very pleased to welcome them as a tenant,” Gienko said. “I would like to compliment the professionals whose efforts, under a very compressed timeline, ensured a smooth transaction that will create value for all parties involved.”
Newmark Grubb Knight Frank’s John Clark and Rob Lundin, senior managing directors, and John Norris, director, represented RCG Management, which acquired the single-story building in January through a REO sale. Mitchell Loveman, principal, and Daniel Katcher, managing director, also with Newmark Grubb Knight Frank, represented Brighstar Corp. in the transaction.
A total of 30,457 square feet remains available for lease at 850-860 Technology Way. Situated in the Pine Meadow Corporate Center, the property is equipped with sophisticated communications and power capabilities as well as abundant parking. Contact John Clark or Rob Lundin at 847.390.8040 for more information.
About Newmark Grubb Knight Frank
A part of BGC Partners, Inc. (NASDAQ:BGCP), Newmark Grubb Knight Frank is one of the largest commercial real estate service firms in the U.S. It brings together the strategic consultative approach to creating value for clients and leading position in the New York market that are hallmarks of Newmark; the complementary strengths of Grubb & Ellis in leasing and management, investment sales, valuation and capital markets services; and BGC’s financial strength, proprietary technology, expertise in global capital markets and deep relationships with many of the world’s leading financial institutions.
Newmark Grubb Knight Frank, together with its affiliates and London-based partner Knight Frank, employs more than 11,000 professionals, operating from more than 300 offices in established and emerging property markets on five continents. This major force in real estate is meeting the local and global needs of tenants, owners, investors and developers worldwide.