Jacksonville, Fla. (July 20, 2015) — Newmark Grubb Phoenix Realty Group (NGPRG) recently completed a $1.85 million sale of a 168,000-square-foot industrial facility located at 109 Stevens Street, Jacksonville, Fla.
Atlantic Safety Products of Pittsfield, N.H. purchased the building from Lexington Realty Trust. Lexington Realty Trust is a real estate investment trust that owns a diversified portfolio of equity and debt interests in single-tenant commercial properties and land.
The seller was represented by Bryan Bartlett, Senior Vice President/Principal and John Richardson, President/Principal with NGPRG.
The multi-tenant manufacturing and warehouse distribution facility is located in Jacksonville’s Westside, Jacksonville’s largest industrial submarket, on 7.96 acres of land.
The buyer, Atlantic Safety Products, is a widely known industry leader in hand protection. It manufactures the Lightning Gloves line, featuring the Black Lightning Glove, the first ever black nitrile glove made specifically for the automotive industry. Atlantic Safety Products plans to use the property as a distribution facility for its products.
“By expanding its operations here, Atlantic Safety Products is investing not only in this asset, but Jacksonville as well,” said Mr. Bartlett.
About Newmark Grubb Phoenix Realty Group
Newmark Grubb Phoenix Realty Group is a full-service commercial real estate company serving Northeast Florida and Southeast Georgia. The firm has completed more than 80 million square feet of transactions since its inception in 1993. Today, Newmark Grubb Phoenix Realty Group provides industrial, office, retail and investment brokerage services representing tenants, buyers, landlords and sellers, as well as third-party and institutional investors of every size. Through Newmark Grubb Knight Frank, one of the world’s leading commercial real estate advisory firms, our clients have access to opportunities in every major market throughout the country, as well as across the globe. For further information, visit www.phoenixrealty.net or call 904.399.5222.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,800 professionals operate from more than 370 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’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, appraisal, and valuation 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.
NGKF 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 http://www.bgcpartners.com/.