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Newmark Brokers Land Sales to Dayton Street Partners
Newmark closed the sale of three assembled land sites totaling 42 acres in Portage, IN. Senior managing director Corey B. Chase and associate Chris Hill represented the undisclosed sellers in the sale to Chicago-based industrial and logistics developer Dayton Street Partners (DSP).
DSP plans to begin speculative development of 538,000 square feet of warehouse/distribution space on the site, known as DSP Crossroads Portage. Chase and Hill will be retained to market the future spec space for lease or sale on behalf of DSP.
“Industrial demand in the Chicagoland area—particularly for logistics and distribution product—in combination with lack of available land and rising development costs, are all factors attracting developers to Northwest Indiana,” said Chase. “DSP’s investment in this future industrial park is incredibly thoughtful and strategically timed. We look forward to our continued work on the project in partnership with DSP and congratulate them on a successful transaction.”
- ◦Sale/Acquisition
- ◦Development
