Newmark Knight Frank’s Tri-State Capital Markets Team Brings Seven Properties to Market in First 90 Days

10/16/17

Newmark Knight Frank (NKF) is pleased to announce that the NKF Tri-State Capital Markets Team has procured seven office and industrial assignments in their first 90 days with the firm. “We are delighted with the team’s momentum in its early days at NKF and have high expectations that the tri-state team is becoming a market leader,” said Vice Chairman & COO of NKF New Jersey, David Simson. The estimated market value for these assignments is approximately $175 million and totals 750,000 square feet of office and 1.3 million square feet of industrial space. The properties include:

Office

  • Morris Corporate Center IV, Parsippany, New Jersey– Unmatched value-add opportunity to acquire a market-leading office property with two, five-story trophy office buildings totaling 359,671 square feet connected by a signature, central four-story glass atrium 
  • Ramsey Office Centre, 500 N Franklin Turnpike, Ramsey, New Jersey– 138,386-square-foot Class A office building that is 49 percent leased to a diverse base of office and medical tenants with a parking space ratio of 4.9 per 1,000 square feet, offering an exceptional value-add opportunity to reposition the property and increase net operating income from $400,000± to $1.8± million 
  • 600 & 700 Horizon Center Drive, Hamilton, New Jersey– Two-building, 100 percent net leased office portfolio in Hamilton, New Jersey comprising a 95,000-square-foot single story office building (600 Horizon) that is 100 percenttriple-net leased to Verizon Communications (S&P: BBB+), and a 120,000-square-foot institutional-quality office building (700 Horizon) that is 100 percent triple net leased to AAA Mid-Atlantic


Industrial/Development

  • Tulfra Industrial Portfolio, Northern New Jersey– Four-building, 100 percent net leased industrial portfolio in Northern New Jersey totaling 254,000 square feet providing passive income (minimal landlord exposure) and stable, increasing yields through contractual rent increases and nine years of remaining term 
  • NY Life Industrial Portfolio, 550 Research Parkway & 160 Corporate Court, Meriden, Connecticut– Two industrial buildings totaling 579,426 square feet that are 100 percent net leased to three tenants including global corporations Sports Direct and Aplicare (guaranteed by Clorox Co.: S&P: A) and ideally located off I-91 
  • 611-617 West Johnson Avenue, Cheshire, Connecticut – Four-building, 208,640-square-foot industrial complex strategically located at the crossroads of I-84 and I-691 that is 52 percent leased, providing substantial upside with flexibility to capture a wide array of tenant demand 
  • Pfister Land Site, Ridgefield, NJ – 18.73-acre “construction ready” industrial development site that can accommodate approximately 275,000± square feet of warehouse/distribution space, strategically located on Route 46 in the Meadowlands on what is Bergen County’s largest remaining parcel of developable land


“We are very excited to be off to a strong start in our first three months with NKF,” said Executive Managing Director Kevin Welsh. “The depth and breadth of these assignments, from three portfolios and trophy value-add office to land sales, clearly demonstrates our clients’ confidence in our ability to execute on this diverse profile of transactions. We look forward to building upon this momentum and growing the business at NKF.”

“The collaboration between our various offices is a large part of what makes NKF a true leader in the industry,” said Executive Vice President Michael Cottle, manager of the Connecticut and Westchester County, NY Region. “The success of our expanded, regional Capital Markets group and its strong activity in their first 90 days with the firm reflects this notion. We are particularly excited about the industrial-segment activity in the past three months.”

About Newmark Knight Frank

Newmark Knight Frank (NKF) is one of the world's leading commercial real estate advisory firms. 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. NKF's full-service platform comprises BGC's real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, valuation and advisory services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.

NKF is a part of BGC Partners, Inc., 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 (NASDAQ: 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 (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com.

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