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Leasing Activity

DevelopmentFloridaLeasing ActivityMixed-UseRestaurantRetailSoutheast

Swire Properties Announces 11 New Tenants at Brickell City Centre in Miami

by John Nelson

MIAMI — Swire Properties has announced 11 new tenants as part of the North Block expansion at Brickell City Centre, a mixed-use development located at 701 S. Miami Ave. in Miami’s Brickell district. The new deals total 65,800 square feet and feature a mix of recent openings and openings for later this year and 2025. The new tenants joining Brickell City Centre include an anchor store for H&M (open); Black Tap Craft Burgers & Beer (open); FP Movement; 7 For All Mankind (open); Anthropologie; John Varvatos; Lacoste; Marc Jacobs; Nespresso; Mango; and Aritzia. Brickell City Centre is a $1 billion, 4.9 million-square-foot mixed-use development comprising two residential towers, two mid-rise office buildings, the EAST Miami hotel and 500,000 square feet of retail and restaurants.

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IllinoisLeasing ActivityMidwestRetail

Hyper Kidz Signs 26,941 SF Retail Lease at Main Street Plaza in Wheaton, Illinois

by Kristin Harlow

WHEATON, ILL. — Hyper Kidz has signed a 26,941-square-foot retail lease at Main Street Plaza in the Chicago suburb of Wheaton. Brad Belden and Chris Irwin of Colliers represented the landlord, RMS Properties Inc. Brendan Watt of Great Street Realty represented Hyper Kidz, which offers an indoor playground, attractions and play zones. The lease brings the 116,759-square-foot property to 75 percent occupancy. Jewel-Osco is the anchor tenant.

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Pictured is an office interior in New York City.
Content PartnerDevelopmentFeaturesIndustrialLeasing ActivityLee & AssociatesMidwestMultifamilyNortheastOfficeRetailSoutheastTexasWestern

Lee & Associates: Absorption Is Positive Across All Property Types According to Third-Quarter Report

by Sarah Daniels

Perhaps the most salient information within Lee & Associates’ 2024 Q3 North America Market Report pertains to the office market. The third quarter of 2024 ended nine continuous quarters of negative net absorption in the office sector. However, additional occupancy losses may be on the horizon for the office market, even as supply pressures ease for this property type. Positive retail news has led to positive industrial news, as rising demand for retail goods has bolstered tenant demand for industrial space just as additional industrial inventory is coming on line. Steady economic growth and continuing impediments to home ownership have created strong absorption in the multifamily sector. Rent growth and vacancy rates have largely plateaued. Lee & Associates has made their complete third-quarter report available here (with more detailed information broken down according to property type). Below is an overview of the strengths and challenges in the industrial, office, retail and multifamily sectors. Industrial Overview: U.S. Demand Spikes Industrial demand across the United States dramatically improved in the third quarter. There were 52.8 million square feet of positive net absorption in the country in the third quarter, a 76 percent jump from the same period a year ago and more than double the …

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FloridaIndustrialLeasing ActivitySoutheast

Stonemont Financial Signs LG Electronics to Occupy 348,740 SF at Lakeland Commerce Center in Central Florida

by John Nelson

LAKELAND, FLA. — Stonemont Financial has signed LG Electronics USA to a full-building lease at Lakeland Commerce Center in Lakeland, roughly 30 miles from Tampa via I-4. The tech manufacturer will occupy the park’s Building 400, a 348,740-square-foot facility that was delivered in the first quarter of this year. LG Electronics will utilize the facility as a distribution center for its home appliances and consumer electronics. Stonemont Financial has also recently signed other tenants to join the tenant roster at Lakeland Commerce Center, including Lifting Gear Hire (36,420 square feet at Building 200) and a 75,740-square-foot lease at Building 100 with an undisclosed tenant. The LG Electronics lease brings the park to 51 percent leased, according to Stonemont Financial.

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DevelopmentFloridaLeasing ActivityMixed-UseRetailSoutheast

Target Opens 50,000 SF Store at Sawyer’s Walk in Miami’s Overtown Neighborhood

by John Nelson

MIAMI — Target has opened a new 50,000-square-foot store at Sawyer’s Walk, a 1.5 million-square-foot mixed-use development underway in Miami’s Overtown neighborhood. SG Holdings, a partnership between Swerdlow Group, SJM Partners and Alben Duffie, is the master developer. Construction on the 3.4-acre development began in summer 2021. The project includes a 578-unit apartment community that is predominantly reserved for low-income seniors; 130,000 square feet of offices anchored by MSC Group that will serve as the North American headquarters for MSC Cruises; and 175,000 square feet of retail space. In addition to Target, Sawyer’s Walk will soon be home to Burlington (38,000 square feet), Aldi (25,000 square feet), Five Below (10,000 square feet) and Ross Dress for Less (26,000 square feet). The property also features a 25,000-square-foot public plaza and parking for 1,000 vehicles.

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Leasing ActivityRetailTexas

EōS Fitness Signs 42,500 SF Retail Lease in San Antonio

by Taylor Williams

SAN ANTONIO — Dallas-based EōS Fitness has signed a 42,500-square-foot retail lease in San Antonio for its first Central Texas location. The space is located within The Shops at Redland Road in the city’s Stone Oak neighborhood, and the new facility will consist of 40,000 square feet of indoor space and 2,500 square feet of contiguous outdoor space. The opening is scheduled for 2026.

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IllinoisLeasing ActivityMidwestRetail

Two New Retail Tenants Open at Deer Park Town Center in Suburban Chicago

by Kristin Harlow

DEER PARK, ILL. — Ancho & Agave and Bluemercury are slated to open next week at Deer Park Town Center in the Chicago suburb of Deer Park. Ancho & Agave is a Mexican restaurant that is opening its second Illinois location. The restaurant totals 8,500 square feet. Luxury beauty retailer Bluemercury occupies 2,543 square feet. Deer Park Town Center also welcomed Victoria’s Secret, The Shade Store, Aerie and Clean Juice to the shopping center earlier this year. Managed by JLL, the outdoor lifestyle center is home to more than 60 retail, restaurant and service brands.

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Leasing ActivityMichiganMidwestRetail

Einstein Dog Training Leases 2,000 SF at Fenton Town Center in Michigan

by Kristin Harlow

FENTON, MICH. — Einstein Dog Training has leased 2,000 square feet at Fenton Town Center in Fenton, about 58 miles northwest of Detroit. Michael Murphy and Tjader Gerdom of Gerdom Realty & Investment represented the landlord, Verus Development Group. There are still a few vacancies left at the shopping center, which is located at the intersection of North Leroy Street and Dauner Road.

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Leasing ActivityNew YorkNortheastRetail

Primark to Open 78,760 SF Store at PENN District in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — Primark will open a 78,760-square-foot store within the PENN District in Midtown Manhattan, its first in the borough. The apparel and accessories retailer will backfill a space at 150 W. 34th St. that was formerly occupied by Old Navy. Vornado Realty Trust (NYSE: VNO) owns the building, which according to LoopNet Inc. was originally constructed in 1900 and renovated in 1998. A tentative opening date was not announced.

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Leasing ActivityNew YorkNortheastOffice

Maybern Signs 11,000 SF Office Lease in Manhattan’s NoHo District

by Taylor Williams

NEW YORK CITY — Financial technology firm Maybern has signed an 11,000-square-foot office lease in Manhattan’s NoHo district. The space spans the entire 11th floor of the building at 10 Astor Place. Jonathan Franzel and Leo Kone of Newmark represented the tenant in the lease negotiations. Robert Silver, Anthony Sciacca and Brittany Silver, also with Newmark, along with internal agent Neith Stone, represented the landlord, GFP Real Estate.

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