Newmark Miami Industrial Team Advises Owner on $7.4 Million Warehouse Sale
April 23, 2018
Arctic Partners Sells Medley Property to Black Creek Group
Miami, FL (April 19, 2018) — Newmark today announced that its South Florida industrial brokerage team advised Arctic Partners on the recent $7.4 million sale of its warehouse property to an investment platform sponsored by Black Creek Group, LLC.
“Through a competitive capital markets sales process, we were able to achieve maximum pricing that exceeded our client’s expectations,” said Nick Wigoda, executive managing director, who teamed with Steve Medwin, executive managing director, in the high-profile investment transaction. The Medley property features a 57,400-square-foot Class A industrial building at 9731 NW 114th Way in Miami, Florida. The 2.52-acre property also has three-quarters of an acre of improved land that could be used for a building expansion or outside storage.
“This modern industrial building is well situated in one of South Florida’s premier submarkets with a long-term tenant in place,” said Medwin, referring to Arctic Industries, which has been manufacturing walk-in coolers and freezers in Medley since 1981. The building, constructed in 1999, has 11 docks and is 100 percent occupied.
About Newmark, operated by Newmark Group, Inc. (“Newmark”), is one of the world’s leading commercial real estate advisory firms. Newmark has over 4,600 employees in over 120 offices. Together with London-based partner Knight Frank and independently-owned offices, Newmark’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, Newmark’s strong foundation makes it one of the most trusted names in commercial real estate. We offer a complete suite of services and products for both owners and occupiers across the entire commercial real estate industry.
Our investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting and, under trademarks and names like Berkeley Point and Newmark Capital Markets, government sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Our occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. We enhance these services and products through innovative real estate technology solutions and data analytics designed to enable our clients to increase their efficiency and profits by optimizing their real estate portfolio. We have relationships with many of the world’s largest commercial property owners, real estate developers and investors, as well as Fortune 500 and Forbes Global 2000 companies. For further information, visit www.ngkf.com.
Newmark, which is listed on the NASDAQ Global Select Market under the symbol “NMRK”, is a publicly traded subsidiary of BGC Partners, Inc. (“BGC”), 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 “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 “BGCA”.
About Black Creek Group
Black Creek Group is an experienced real estate investment management firm with more than $17 billion of investments over its 25-year history. The company manages diverse investment offerings across the spectrum of commercial real estate – including office, industrial, retail and multifamily – and has a track record of creating long-term value for its investors. The company has nine offices across North America with more than 300 professionals. Black Creek Group offers a range of investment solutions for both institutional and wealth management channels. More information is available at www.blackcreekgroup.com.
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