Newmark Grubb Knight Frank (NGKF)’s National Institutional Team in New York, with expert NGKF Capital Markets brokers in local markets, represented a special servicer in the disposition of 10 industrial/flex, multifamily and office properties across five states. The 10 deals total approximately $37 million and represented 614,000 square feet. The buyers were a mix of national, regional and local firms, cultivated by both the New York team and the local brokers.
“As a full-service firm, the combination of our institutional experts in New York with our local market resources enables us to execute as a cohesive team on similar portfolios, as well as institutional quality assets around the country. The outreach to a broader pool of investors results in maximized returns for our clients,” said NGKF Capital Markets Managing Director David Colen, who facilitated the transactions nationally along with NGKF Capital Markets Director William Lee.
Completed transactions:
• Six industrial/flex properties in Urbandale, Iowa, totaling 250,194 square feet. The addresses are 2851 99th Street (60,730 square feet), 2721 99th Street (59,307 square feet), 10052 Justin Drive (39,005 square feet), 3000 Justin Drive (37,344 square feet), 2851 104th Street (35,058 square feet), and 2901 99th Street (18,750 square feet). NGKF Capital Markets Executive Managing Director Ken Szady was the local representative for the seller. • 37101 Corporate Drive in Farmington Hills, Mich., a 128,829-square-foot office building. NGKF Senior Managing Directors Patrick Shannon and Daniel Canvasser were the local representatives for the seller. • 920 Sierra Vista Drive in Las Vegas, a 79,124-square-foot multifamily building. NGKF Senior Managing Director Doug Schuster and Managing Director Curt Allsop were the local representatives for the seller. • 16650 Westgrove Drive in Addison, Texas, a 96,463-square-foot industrial/flex building. NGKF Director Peter Wirth was the local representative for the seller. • 125 John Hancock Road in Taunton, Mass., a 59,175-square-foot industrial/flex building. NGKF
Capital Markets Executive Managing Director Leigh Freudenheim and Senior Managing Director Anthony Biette were the local representatives for the seller.
