SOUTH BRUNSWICK, N.J. — Federation Distribution Services Inc. has signed a 104,451-square-foot industrial lease in South Brunswick, located roughly midway between Trenton and Newark. The third-party logistics company will occupy half the space at the newly renovated building at 461 Ridge Road for a term of 65 months. Gary Politi and Michael Viera of JLL represented the landlord, a partnership between New Jersey-based Woodmont Industrial Partners and Denver-based Sagard Real Estate, in the lease negotiations. Monica Franco of Lee & Associates represented the tenant.
JOHNSTON, R.I. — Cushman & Wakefield has negotiated a 28,000-square-foot office lease in Johnston, located just west of Providence. The tenant, regional contractor Dimeo Construction Co., is taking space at 1301 Atwood Ave., a 315,710-square-foot building that was originally constructed in 1973. Matt Fair and Peter Hayes of Cushman & Wakefield represented the landlord, Hobbs Brook Real Estate, in the lease negotiations. Alden Anderson of CBRE represented the tenant.
PHILADELPHIA — Metro Boston-based Apple Cinemas will open a 17-screen theater near downtown Philadelphia. The company will backfill a former theater space of Regal Cinemas at Riverview Plaza III, which is owned by Philadelphia-based Tower Investments. Soloff Realty & Development Inc. represented the landlord in the lease negotiations. The opening is scheduled for fall 2025.
COLUMBUS, OHIO — Ten tenants have opened new locations at Easton Town Center in Columbus. CHANEL Fragrance and Beauty Boutique, David Yurman, Louis Vuitton, Hollister, Mugsy, Bluemercury, Tecovas, Rowan, BoxLunch and Mikey’s Late Night Slice are now open. Coming soon to the shopping destination are gorjana, Faherty, Bar Italia, Diamond Cellar and Altar’d State. Easton Town Center is home to more than 250 shops, restaurants and entertainment venues. Steiner + Associates handles leasing and management for the property.
LONDON — The U.S. office market is in need of time and sustained levels of leasing activity to overcome the robust amount of space given back since the COVID-19 pandemic, concludes Savills’ third-quarter “State of the U.S. Office Market” report. If the third quarter is any indication, the U.S. office market is beginning its long road to recovery. According to Savills, the market recorded 57.7 million square feet of leasing activity this past quarter, which is a nearly 19 percent increase from 48.6 million square feet in second-quarter 2024 and a 25.4 percent increase from 46 million square feet in third-quarter 2023. The third-quarter 2024 total represents the largest quarterly leasing volume since the pandemic, according to Savills. The firm also projects that this year is on track to have the most office leasing activity since 2019, surpassing the previous post-pandemic high of 205.8 million square feet recorded in 2022. Additionally, the amount of available sublease space is on the decline. Sublease space on the market totaled 164.7 million square feet at the end of the third quarter, a 6.6 percent decrease from 176.4 million square feet in third-quarter 2023. Savills reports that sublease availability has declined for four consecutive quarters. …
HOUSTON — OKT Lighting USA has signed a 43,760-square-foot industrial lease in South Houston. The manufacturer of LED linear lighting and downlights is taking space at 2304 Reed Road, an industrial building that according to LoopNet Inc. totals 79,072 square feet and features 30-foot clear heights. Will Mason and Tyler Maner of Stream Realty Partners represented the tenant in the lease negotiations. Allison Bergmann and Jim Foreman of Cushman & Wakefield represented the locally based landlord, Hines.
FLEMINGTON, N.J. — Target will open a 75,500-square-foot store in the Central New Jersey community of Flemington. The store will be located within a space formerly occupied by Burlington at the 239,000-square-foot Flemington Marketplace shopping center. Vanessa Kelty of Levin Management Corp. represented the landlord, an institutional client of New York Life Real Estate Investors, in the lease negotiations. Jeff Howard of Ripco Real Estate represented Target, which expects to open its Flemington store next fall.
NEW YORK CITY — Kauff McGuire & Margolis LLP has signed a 17,320-square-foot office lease in Midtown Manhattan. The law firm has committed to the 33rd floor of the building at 810 Seventh Ave. for a term of 10 years. Peter Trivelas, Justin Royce and Justin Sodokoff of Cushman & Wakefield represented the tenant in the lease negotiations. Harry Blair, Tara Stacom, Barry Zeller and Pierce Hance, also with Cushman & Wakefield, represented the landlord, SL Green.
EVANSTON, ILL. — COUR Pharmaceuticals has signed a 50,000-square-foot lease at Evanston Labs in Evanston. The company is relocating its headquarters, R&D lab and pilot manufacturing plant to the recently delivered project. COUR, a clinical-stage biotechnology company developing therapies to treat patients with autoimmune diseases, will occupy space across the eighth and ninth floors. Located at the southwest corner of Orrington Avenue and Clark Street, Evanston Labs is an advanced sciences lab building rising 10 stories and totaling 178,800 square feet. Completed earlier this year by Trammell Crow Co. (TCC), the development features a penthouse amenity center, outdoor terrace and health and wellness center.
RICHARDSON, TEXAS — Pepperidge Farm has signed a 45,406-square-foot industrial lease in the northeastern Dallas suburb of Richardson. The Connecticut-based commercial baker is taking space at the building located at 1405 E. Lookout Drive. Josh Barnes, Blake Troiani and Weston Porter of Holt Lunsford Commercial represented the landlord, Crow Holdings, in the lease negotiations. Micheal Paine of Cushman & Wakefield represented Pepperidge Farm.