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- Newmark Completes Sale of 9/90 Corporate Center in…
Outshine Properties and Jadian Capital acquire four-building office/laboratory campus
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November 17, 2021 8:00 AM
Newmark announces the sale of 9/90 Corporate Center, a four-building office/laboratory campus located in Framingham, Massachusetts. Newmark Co-Head of U.S. Capital Markets Robert Griffin, Vice Chairman Edward Maher, Executive Managing Director Matthew Pullen and Managing Director Samantha Hallowell of the firm's Boston Capital Markets Group represented the seller and procured the buyer, Outshine Properties and Jadian Capital. Newmark Senior Financial Analyst William Sleeper provided financial analysis support.
Totaling 400,000+ square feet, 9/90 Corporate Center includes 100, 175 and 200 Crossing Boulevard and 200 Staples Drive. The campus is presently over 80% leased to a 12-tenant roster anchored by life science and technology users, many of which operate their headquarters or other flagship facilities on site.
"9/90 Corporate Center's in-place cash flow is complemented by a prime laboratory conversion opportunity in 200 Staples Drive," said Pullen. "The 65,000-square-foot building is fully available and features reusable infrastructure for life science users."
Situated 25 miles west of Boston, 9/90 Corporate Center benefits from a highly-accessible location at the intersection of Route 9 and Interstate 90 (Massachusetts Turnpike) with shuttle service to a nearby MBTA commuter rail station.
About Outshine Properties
Outshine Properties is a real estate investment and development firm focused on knowledge economy assets. Founded in 2020, the company invests strategically across life science, medical office, and technology-focused assets nationally, with an emphasis on major life science markets. Founders Jonathan Scheinberg and Bill Hunter have a combined 35 years of collective experience in real estate and life science. With their extensive expertise and profitable track record of identifying, acquiring, and managing over 10 million SF of life science, mixed-use and industrial properties in the United States and Europe, Outshine is uniquely positioned for future growth and outsized returns. Outshine's principals have successfully completed transactions on more than 25 properties valued at $4 billion, employing a direct investment strategy with its partners to consistently achieve above-market returns. Strategic partners and institutional investors include pension funds, insurance companies, banks, and family offices.
About Jadian Capital
Founded in 2017, Jadian is a New York and Greenwich, Connecticut based investment firm targeting opportunities throughout the capital structures of real estate, related assets, and asset-intensive businesses. The firm's strategy focuses primarily on alternative sectors with characteristics likely to lead to long-term fundamental outperformance. Jadian actively manages a portfolio of investments across the capital structure and its principals have a history of successfully executing investments across cycles, with diverse expertise in platform creation, distress, equity, and credit.
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 in excess of $2.5 billion for the trailing twelve months ending September 30, 2021. Newmark's company-owned offices, together with its business partners, operate from over 160 offices with approximately 6,200 professionals around the world. To learn more, visit nmrk.com or follow @newmark.
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.
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Newmark Group Inc. published this content on 17 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 November 2021 23:31:05 UTC.
