Lee & Associates announced that Mark Baumhart, CCIM has joined the company as principal. He will work with the industrial real estate brokerage group.
Baumhart brings more than 35 years of commercial real estate brokerage experience in the Chicagoland area to Lee & Associates. Over that time, Baumhart completed more than 1,400 commercial transactions valued in excess of $1 billion. In his new position, Baumhart will continue to specialize in property transactions, including lease negotiations, landlord and tenant representation, investment sales, acquisitions and dispositions.
According to Ken Franzese, one of the founding principals of Lee & Associates of Illinois, the addition of Baumhart to the company’s Chicago-based team brings unparalleled knowledge of the region’s commercial and industrial market.
“If you’ve worked in the industrial and commercial real estate market during the past 30 years, you know Mark Baumhart,” Franzese said. “He has been involved in every type of real estate transaction and has gained a reputation for his insight and excellent service to his clients. We are excited about his addition to our brokerage team as we continue to target aggressive growth as a company.”
Baumhart spent the entirety of his career at Arthur J. Rogers & Co.—one of the leading real estate brokerage and management firms in the Chicago area. Recently, Baumhart represented Arthur J. Rogers & Co. in the sale of their entire 1.7-million-square-foot industrial commercial real estate portfolio to Stockbridge, a national real estate investment and management platform, for $116,500,000. It was one of the largest commercial real estate transactions in the Midwest in 2019. Additionally, he has represented the largest private owner of industrial buildings in Bensenville, Illinois since 1987—leading the acquisition and lease of over 1 million square feet during that time.
“Lee & Associates provides a fantastic opportunity for me to represent my clients with best in class service through a market-leading platform that is constantly evolving and expanding. I’m excited to be able to work alongside some of the top brokers in the business in an environment that encourages collaboration, provides tremendous support and inspires professional excellence and growth,” Baumhart said.
Baumhart is a lifelong resident of the Chicago area and is a Certified Commercial Investment Member (CCIM) and member of Industrial Real Estate Brokers (AIRE).