CHICAGO-Newark Corp., an electronics distribution company, is searching for as much as 80,000 square feet of space downtown after it sold its Ravenswood headquarters.
The company, which operates as Newark element14, sold its four-story headquarters building at 4801 N. Ravenswood Ave. for $6.5 million, according to Crain's Chicago Business. The property was sold to ICM Properties Inc. and Hayes Properties Inc., both based in Chicago. Newark is leasing back the building until it finds new space.
Approximately 350 employees are expected to move to the new downtown location, according to a company spokesman. Newark is a unit of Leeds, England-based Premier Farnell PLC.
Newark is leasing back the building for a year while it conducts its downtown office search. See story in Crain's Chicago Business.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
