Leasing Activity

FREDERICK, MD. — X-Golf America will open a 13,414-square-foot entertainment venue in Frederick, marking the company’s largest location to date. Situated within the 200,000-square-foot Westview Promenade, the store is scheduled to open this month. In addition to eight indoor golf simulators, the venue will feature full-service sports bar and restaurant. Ashley Zito and Danielle Bridge represented the landlord, Hill Management Services, in the lease transaction on an internal basis. Franchisees and husband-and-wife team Jillian and Matthew Louden will own and operate the facility. X-Golf America’s portfolio currently includes more than 80 stores across 36 states.

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STREAMWOOD, ILL. — Burlington has signed a 22,104-square-foot retail lease at 980 S. Barrington Road in Streamwood, a northwest suburb of Chicago. The retailer will occupy the space beginning later this year. The new lease brings the previously vacant building totaling 81,000 square feet to full occupancy. Value City Furniture previously occupied the entire property, which has now been split into three units. CBRE also arranged the other leases with Aldi (23,589 square feet) and Ollie’s (33,000 square feet). Joe Parrott and Sean McCourt of CBRE represented ownership, Diehl LLC. The building is located within Westview Center, a 350,000-square-foot power center.

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SOUTHFIELD, MICH. — Farbman Group and Healthrise are both relocating their headquarters to a 93,000-square-foot office building located at 31700 Middle Belt Road in Southfield. Yamasaki designed the Class A building, which features underground parking, large floorplates and a campus-like setting. Farbman, a full-service real estate firm currently headquartered at 28400 Northwestern Highway in Southfield, will relocate in the spring or summer of this year. The relocation includes its sister companies Huntington Construction, FarbNET, Medical Real Estate Solutions, Huntington Maintenance Co. and Apex Mechanical Solutions. Healthrise provides IT services for the implementation of electronic health records, worker performance management and revenue cycle management.

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AUSTIN, TEXAS — IBM has signed a 50,000-square-foot office and life sciences lease at Parmer Impact Labs in Austin. CBRE represented the landlord, Karlin Real Estate, in the lease negotiations. Cushman & Wakefield represented IBM. The New York-based tech giant follows University of Texas at Austin, which announced in September that it would locate its first off-campus wet lab site at Parmer Impact Labs. A timeline for occupancy was not disclosed.

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PLANO, TEXAS — Holt Lunsford Commercial has negotiated a 13,936-square-foot office lease renewal and expansion at Lincoln Legacy Two in the northern Dallas suburb of Plano. Chase Stone and Caroline Hix of Holt Lunsford represented the landlord, Larson Capital Management, in the lease negotiations. Scott Jessen of Citadel Partners and Tyler Thomas of Trumont Commercial represented the tenant, The Mathworks, a provider of mathematical computing software.

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NEW YORK CITY — DoorDash has signed a 115,382-square-foot office lease expansion at 200 Fifth Avenue in Manhattan. The San Francisco-based online food delivery platform is expanding from a 57,691-square-foot space that it had previously subleased to the ninth floor of the 860,000-square-foot building. Bruce Mosler, Ethan Silverstein, Anthony LoPresti and Bianca Di Mauro of Cushman & Wakefield represented the landlord, Boston Properties (NYSE: BXP), in the lease negotiations. Adam Ardise and Greg Pickett, also with Cushman & Wakefield, represented DoorDash, which plans to take occupancy of the new space before the end of the year. 

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HOUSTON — ChipTech, a manufacturer of low-voltage cables for the communications industry, has signed a 14,350-square-foot industrial lease in northwest Houston. The space is located within Pine Timbers Distribution Center and includes 1,655 square feet of office space. Andrew Bischoff and Tyler Holt of Finial Group represented ChipTech in the lease negotiations. Bridge Commercial Real Estate represented the undisclosed landlord.

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NEW YORK CITY — JLL has negotiated a 5,084-square-foot office lease at 76 Trinity Place, a 26-story building in Manhattan’s Financial District that was completed in 2022. The lease term is five years. John Wheeler, Andrew Coe and Margaux Kelleher of JLL represented the landlord, Trinity Church Wall Street, in the lease negotiations. Jeff Szczapa, Ed DiTolla and Finley Burger, also with JLL, represented the tenant, Boston-based financial technology company Lendbuzz.

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David Braun Managed IT Services Pavlov Media

The multifamily industry has its hands full: finance in adverse economic conditions, rapidly rising operation costs, as well as the challenge of attracting and keeping quality tenants as the biggest jump in new inventory creates more competition than the industry has seen in decades. Technology is an enabling and defining tool in the midst of these challenges. Tenants often expect services like internet access, telephone, television and Wi-Fi hotspots throughout a complex. Multifamily property staff need data access, speciality software, as well as the ability to schedule prospective resident visits, remote viewing, maintenance and more. Relatively few multifamily operations have the scope, scale and economics for an IT staff that can handle the support and repair requirements necessary to install systems, keep them working, protect data and networks while assisting tenant and staff users, particulary 24 hours a day, 7 days a week. Managed IT services are third-party companies that remotely provide the IT expertise and the help a company requires. “If a resident can’t get on Wi-Fi, if a phone stops working, if there’s an issue with the network or if there’s a problem with the ability to share or store or retrieve data — that’s where we step …

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OLD BRIDGE, N.J. — Paragon Packaging has signed a 192,000-square-foot industrial lease in Old Bridge, about 40 miles south of Manhattan. The packaging firm is taking space at Building 2 at the 4.2 million-square-foot Central 9 Logistics Park, which is under construction and expected to be complete in the second quarter. Mindy Lissner, Bill Waxman, Christine Eberle, David Gheriani, Jeff Volpi and Morgan Nitti of Cushman & Wakefield represented the landlord, 2020 Acquisitions, in the lease negotiations. Kyle Eaton of Newmark represented Paragon Packaging.

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