Leasing Activity

RXR Inks 700,000 SF Office Lease Expansion, Extension at 450 Lexington Avenue, Announces $300M Renovation

by Taylor Williams August 16, 2023

NEW YORK CITY — RXR has inked a 700,000-square-foot office lease extension and expansion with global law firm Davis Polk & Wardwell LLP at 450 Lexington Avenue in Midtown Manhattan. The tenant has re-committed to the 40-story building, which was originally constructed in 1991, for the next 25 years and is taking an additional 30,000 square feet of space. The firm’s footprint now spans 23 floors. In conjunction with the deal, the locally based landlord also announced a $300 million renovation. Designed by Gensler, the project will include the full modernization of lobbies and the addition of numerous amenities. Renovations will also upgrade other common areas and the anchor tenant spaces. Lewis Miller, Andrew Sussman and Munish Viralam of CBRE represented Davis Polk & Wardwell in the lease negotiations. William Elder and Andrew Ackerman represented RXR on an internal basis.

August 16, 2023

Leasing Activity Midwest Office Wisconsin

St. John Properties Signs Leases With Three Office Tenants at Mt. Pleasant Commerce Center in Wisconsin

by Kristin Harlow August 16, 2023

MT. PLEASANT, WIS. — St. John Properties Inc. has signed leases with three office tenants for more than 30,000 square feet at Mt. Pleasant Commerce Center in Mt. Pleasant, about 30 miles south of Milwaukee. The U.S. General Services Administration will relocate approximately 25 to 30 employees from 4020 Durand Ave. in Racine to 10,150 square feet in Mt. Pleasant by year’s end. Power transmission equipment manufacturer Twin Disc Inc., based in Racine, signed a lease for 15,482 square feet and will relocate its engineering division with roughly 45 employees by year’s end. Wisconsin Early Autism Project and Total Spectrum signed a lease for 5,536 square feet for its fifth location in metro Milwaukee. The group will take occupancy in October. Greg Fax represented St. John Properties on an internal basis.

August 16, 2023

Industrial Leasing Activity New Jersey Northeast

Orthofeet Inc. Signs 71,870 SF Industrial Lease Renewal in Norwood, New Jersey

by Taylor Williams August 16, 2023

NORWOOD, N.J. — Orthofeet Inc., a provider of inserts and other custom footwear products, has signed a 71,870-square-foot industrial lease renewal in the Northern New Jersey community of Norwood. Orthofeet has been a tenant at the building at 335 Chestnut St., which spans 111,300 square feet and was constructed in 1969, since 2019. Stephen Jennings represented the landlord, Alfred Sanzari Enterprises, in the lease negotiations on an internal basis. Daniel Whitehead of Resource Realty represented Orthofeet.

August 16, 2023

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Negotiates 12,271 SF Industrial Lease in Richardson, Texas

by Taylor Williams August 15, 2023

RICHARDSON, TEXAS — Lee & Associated has negotiated a 12,271-square-foot industrial lease at Grove Business Park in the northeastern Dallas suburb of Richardson. Jessica Reinhardt and George Tanghongs of Lee & Associates represented the landlord, an entity doing business as Dallas North Industrial LLC, in the lease negotiations. Byron McCoy of Younger Partners represented the tenant, automotive paint specialist English Color & Supply LLC.

August 15, 2023

Leasing Activity Office Texas

Royston, Rayzor, Vickery & Williams Signs 11,611 SF Office Lease in Downtown Houston

by Taylor Williams August 15, 2023

HOUSTON — Law firm Royston, Rayzor, Vickery & Williams has signed an 11,611-square-foot office lease at 1415 Louisiana St. in downtown Houston. The building rises 43 stories, spans 520,000 square feet and houses an 8,000-square-foot fitness center and multiple onsite food-and-beverage options. Griff Bandy and John Zivley of Partners Real Estate represented the tenant in the lease negotiations. Connor Saxe of Cushman & Wakefield represented the landlord, Wedge Commercial Properties.

August 15, 2023

Georgia Leasing Activity Mixed-Use Office Southeast

Solar Energy Company Signs Office Lease at Brickworks in Atlanta for New Headquarters

by John Nelson August 15, 2023

ATLANTA — Cherry Street Energy, an Atlanta-based solar energy company, has signed a new office lease at Brickworks, a 194,000-square-foot mixed-use development in Atlanta’s West Midtown district. The landlord, Asana Partners, signed the tenant to a 13,600-square-foot lease. Cherry Street Energy is relocating its headquarters to the Brickworks location and will bring over 50 employees, as well as install solar panel and electric vehicle charging stations. The firm, which previously occupied 1,500 square feet, recently received a $40 million investment to expand its footprint and hire new staff. Cherry Street Energy will utilize the space at Brickworks for both office space and research-and-development. Joey Kline and Terry McGuirk of JLL represented Cherry Street Energy in the lease negotiations. Bennett Gottlieb of Capital Real Estate Group represented Asana Partners.

August 15, 2023

Development Illinois Leasing Activity Midwest Multifamily

Luxury Living Begins Leasing Efforts for The Medallion Apartment Building in Chicago

by Kristin Harlow August 15, 2023

CHICAGO — Luxury Living has begun leasing efforts for The Medallion, a newly redeveloped boutique apartment building in Chicago’s Lakeview neighborhood. JSM Venture owns the property, which is located at 3121 N. Broadway St. JSM Venture implemented a two-story addition and rooftop deck on top of a five-story parking garage. The building now features 72 apartment units. The property is also home to Intelligentsia Coffee. Monthly rents start at $1,875 for studios and $2,195 for one-bedroom floor plans. Select units are available in accordance with the City of Chicago’s Affordable Requirements Ordinance.

August 15, 2023

Industrial Leasing Activity Texas

Stuart C. Irby Co. Signs 51,600 SF Industrial Lease in Fort Worth

by Taylor Williams August 14, 2023

FORT WORTH, TEXAS — Stuart C. Irby Co., a provider of electrical parts and equipment, has signed a 51,600-square-foot industrial lease at West Fork Business Center in Fort Worth. Stuart Smith of Cushman & Wakefield represented the tenant in the lease negotiations. Trey Goodspeed and George Jennings of Holt Lunsford Commercial represented the landlord, Exline Capital.

August 14, 2023

Leasing Activity New Jersey Northeast Office

Kolmar Group Opens 16,102 SF Office, Innovation Center in Teaneck, New Jersey

by Taylor Williams August 14, 2023

TEANECK, N.J. — Kolmar Group, a South Korean manufacturer that supports the cosmetics, food supplements and pharmaceutical industries, has opened a 16,102-square-foot office and innovation center in the Northern New Jersey community of Teaneck. The space, which includes a product incubation feature, is located within Glenpointe, a 670,000-square-foot mixed-use campus. Jeff Schotz, Peter Rossi, Dan Reider and Peter Kasparian of Newmark represented the landlord, New Jersey-based Alfred Sanzari Enterprises, in the lease negotiations. David Simson and Elaine Lim of Keller Williams Commercial represented Kolmar Group.

August 14, 2023

Leasing Activity Northeast Office Pennsylvania

Steptoe & Johnson Signs 6,572 SF Office Lease Expansion in Downtown Pittsburgh

by Taylor Williams August 14, 2023

PITTSBURGH — Law firm Steptoe & Johnson PLLC has signed an 6,572-square-foot office lease expansion in Pittsburgh. The tenant is expanding its footprint at One PPG Place, a six-building, 1.5 million-square-foot complex located in the downtown area, by about 40 percent for a new footprint of 23,000 square feet. Lesa Nickelson French of Savills and David Koch of Newmark represented the tenant in the lease negotiations. Highwoods Properties owns One PPG Place.

August 14, 2023

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