Kansas City, MO (October 2022) – Newmark has completed the successful disposition of the 251,100 square foot single tenant industrial building in Davenport, Iowa located at 8740 Zenith Avenue on behalf of Blue Vista Capital Management, LLC and Russell Development. The transaction was completed by the Newmark team of Michael L. VanBuskirk, SIOR, CCIM, CRE, Chris S. Robertson, CCIM, Andy Gallas, Andrew Sandquist, Ben Greazel, and Raegen Root. The property was 100% leased to Ryder Logistics. Minneapolis based Founders Properties acquired the property. This is the first of six buildings in the Russell Industrial Park that will encompass nearly 1.5 million square feet when fully built out.
About Newmark Zimmer
Newmark Zimmer is a full-service commercial real estate company providing a range of services including sales and leasing, investment sales, property and facilities management, global corporate services, and owner’s representative services for public and private development projects. Its staff boasts an array of experience in design, construction, valuation, finance and legal matters.
Regularly recognized as one of the top brokerage firms in the region, Newmark Zimmer manages more than 14.5 million square feet of office, medical, industrial and retail property, and serves as corporate real estate advisor for an assortment of local, regional, national and international companies.
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. Newmark generated revenues of approximately $3.1 billion for the twelve months ending September 30, 2022. Newmark’s company-owned offices, together with its business partners, operate from approximately 180 offices with nearly 6,700 professionals around the world.
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. These include statements about the effects of the COVID-19 pandemic on the Company’s business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. 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 Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.
