Newmark Arranges 149,000 Square Feet of Industrial Lease Renewals in Suburban Chicago

February 21, 2025 9:00 AM

Newmark announces it has arranged 149,000 square feet of industrial lease renewals on behalf of The Popcorn Factory® in suburban Chicago. The transactions span two properties—28160 N Keith and 13970 W Laurel—where the tenant’s manufacturing operation has been based for more than 25 years. Newmark Senior Managing Director Corey Chase facilitated the renewal on behalf of the tenant.

“Understanding the client’s operation and facility requirements were essential in navigating this process over the last nine months and resulted in a highly favorable solution that benefits both parties,” said Chase. “We look look forward to watching the progression of ownership’s improvement program and the tenant’s next chapter at the facilties.”

The tenant first moved into a 70,000-square-foot facility at Laurel, later expanding to occupy the adjacent 78,000-square-foot facility at Keith. As part of this expansion, a tunnel connecting the two contiguous properties was constructed. Today, more than two decades later, the facilitates require substantial renovations.

Seeking to motivate the tenant to stay in-place, ownership agreed to implement a seven-figure capital improvement and modernization program to meet their requirements.The scope of work includes enhancements to the power system, modernization of dock doors, improvements to the parking lot, and a modernized lunch room.

“We are enthusiastic about the opportunity to renew our facility in collaboration with the property ownership. The planned upgrades and improvements will enable us to maintain our presence and continue our growth. We are confident that the enhancements will significantly benefit our customers and employees,” stated Dennis Marnick, Head of Real Estate for 1-800-FLOWERS.COM, Inc., parent company to The Popcorn Factory.

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. For the twelve months ended September 30, 2024, Newmark generated revenues of approximately $2.6 billion. As of that same date, Newmark’s company-owned offices, together with its business partners, operated from nearly 170 offices with more than 7,800 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

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