Newmark announces + 710,000 square feet of industrial renewals in Metro Detroit on behalf of owner, STAG


Newmark announces + 710,000 square feet of industrial renewals in Metro Detroit on behalf of owner, STAG

November 1, 2021 11:30 a.m.

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November 1, 2021 11:30 a.m.

Newmark is announcing 710,066 square feet of industrial leasing business on behalf of STAG Industrial, Inc. (NYSE: STAG) in the Metro Detroit area since early 2021.

Newmark’s Executive Managing Director, Dan Labes, represented owner, STAG, on five lease renewals at five different distribution warehouses. The leases represented an increase in rental income of 20% on average with annual increases in rents of more than 3% on average. Tenant industries ranged from 3PLs to e-commerce businesses to automotive suppliers.

“These transactions demonstrate the strength of the industrial market in the Detroit metro area, which continues to be an incredibly attractive metro area for industrial companies,” said Labes. “With few vacancies and a very tight market, industrial tenants looking for space are often limited in terms of relocation options, so structuring renewals becomes essential.”

According to Newmark Research’s third quarter 2021 Metro Detroit industrial market report, the Metro Detroit vacancy rate fell 20 basis points to 4.2% in the third quarter, while just over 956,000 square feet has been absorbed.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), along with its subsidiaries (“Newmark”), is a global leader in commercial real estate, seamlessly fueling every phase of the property lifecycle. Newmark’s full suite of services and products are uniquely tailored to suit every customer, from owners to occupants, investors to founders, and startups to blue chip businesses. Combining the platform’s global reach with market intelligence in established and emerging real estate markets, Newmark provides superior service to clients across the industry. Newmark generated revenues of over $ 2.2 billion for the twelve months ending June 30, 2021. The offices owned by the Newmark company, as well as its business partners, operate from more than 160 offices with approximately 6,200 professionals worldwide. To learn more, visit or follow @newbrand.

Discussion of forward-looking statements regarding Newmark
Statements contained 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 regarding the effects of the COVID-19 pandemic on the business, results, financial condition, liquidity and prospects of the Company, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, perhaps materially, from what is currently expected. Except as required by law, Newmark assumes 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 forward-looking statements, see Newmark’s Securities and Exchange Commission documents, including, but not limited to, the risk factors and the special note on Forward-looking information set out in these documents and any updates to these risk factors and the special note on forward-looking information contained in subsequent reports on Form 10-K, Form 10- Q or Form 8-K.


Newmark Group Inc. published this content on November 01, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on 01 November 2021 21:58:02 UTC.

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Analyst Recommendations on NEWMARK GROUP, INC.
Sales 2021 2,566 million

Net income 2021 623 million

Net debt 2021

PER 2021 ratio 5.76x
Yield 2021 0.27%
Capitalization 2 942 million
2 942 million
Capi. / Sales 2021 1.15x
Capi. / Sales 2022 1.03x
Number of employees 4,100
Free float 79.1%

Duration :


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Average consensus SURPASS
Number of analysts 5
Last closing price

$ 15.04

Average price target

$ 17.00

Spread / Average target 13.0%


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