Leasing Activity

Imperial-Tower-NC

DURHAM, N.C. — Drawbridge Realty has signed its third major tenant at Imperial Tower, a 259,000-square-foot office property in Durham. Regional law firm Robinson, Bradshaw & Hinson will consolidate two Raleigh-area locations to the office building and occupy the entire third floor (approximately 30,905 square feet). Greg Sanchez, Ryan Gaylord and Robin Anders of NAI Tri Properties represented Drawbridge in the lease negotiations, while Ben Litke of Cushman & Wakefield represented the tenant. Drawbridge and NAI Tri Properties have signed almost 165,000 square feet in leases at Imperial Tower in the past three months. In December, Aspida Financial Services signed a lease for three floors for its new headquarters, while earlier this month, Victra, the largest authorized Verizon Wireless retailer in the country, signed a lease for one-and-a-half floors. Imperial Tower is also undergoing a $10 million renovation that will include upgrades to the lobby and conference rooms. The renovation also features amenity upgrades, including a café/bakery/coffee shop, golf simulator, fitness center with locker room and shower facilities, tenant lounge and game room, wellness room, waterside patio, athletic fields and a pickleball/sports court.

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FORT WORTH, TEXAS — City Pickle USA has opened a 35,000-square-foot athletic facility in North Fort Worth. The site spans 3.3 acres at 8600 N. City Drive, and the facility features 16 courts, agym, full-service bar, pro shop and dedicated wellness spaces, including a sauna, cold plunge and a red light therapy room. A grand opening ceremony will take place in the coming weeks.

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PHILADELPHIA — Drexel University will open a 150,741-square-foot healthcare and life sciences facility in Philadelphia’s University City area. The space spans four of the 11 stories within the building at 3201 Cuthbert St., which is adjacent to Drexel’s campus. The university plans to consolidate the entirety of its research and laboratory operations within the Drexel University College of Medicine in the new building, which was designed by Robert A.M. Stern Architects and is owned by a partnership between Gattuso Development Partners and Vigilant Holdings Occupancy is slated for mid-2027.

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DAVENPORT, IOWA — Electro Freeze, a frozen treat machine manufacturer, has signed a 301,320-square-foot lease at Russell Industrial Park in Davenport within the Quad Cities. The company will relocate from East Moline in July. Michael Minard, Austin Hedstrom, Tanner Hedstrom and Marcus Pitts of JLL represented the landlord, Russell, an Iowa-based construction and development firm. The property is the fourth of six buildings to reach full occupancy within the 95-acre industrial park. Other tenants include Ryder Logistics, Nestlé Purina, PODS, Crescent Electric and Tube and Solid Tire. The buildings total nearly 1.5 million square feet, with over 500,000 square feet remaining available for lease. Electro Freeze’s commitment brings more than 200 jobs to Davenport.

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SUMMERVILLE, S.C. — CBRE has negotiated a 342,000-square-foot lease within Coastal Crossroads Industrial Park, a 180-acre industrial development in the Charleston suburb of Summerville. Mobix Fulfillment, a third-party logistics firm based in Utah, will occupy the building at 420 Strathmore Road. The lease represents the first closed transaction within Coastal Crossroads, according to CBRE. Bob Barrineau, Brendan Redeyoff and Tim Raber of CBRE represented the landlord, Citimark Pure Charleston, in the lease negotiations. Ryan Young of Cushman & Wakefield represented Mobix. Remaining availability at Coastal Crossroads includes two existing spaces spanning 208,000 and 500,000 square feet, along with two build-to-suit sites ranging from 200,000 to 1.2 million square feet.

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HOUSTON — United Steel Structures has signed an 11,752-square-foot office lease in West Houston. The provider of industrial construction, engineering and acoustic solutions is taking space at the building at 1407 Enclave Parkway, which according to LoopNet Inc. was built in 1998 and totals 209,185 square feet. Dan Boyles of Partners Real Estate represented United Steel in the lease negotiations. Paul Frazier and Chrissy Wilson of JLL represented the undisclosed landlord.

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KANSAS CITY, MO. — Paris Brothers, a Kansas City-based global food and beverage company, has finalized a new seven-year lease for a headquarters office in Kansas City’s Power & Light District. The company will relocate its corporate team to a 16,000-square-foot space at 13th Street and Baltimore Avenue. Paris Brothers is best known as the parent company of Parisi Coffee. The new space will enable the company to better host partners and develop new products, according to a release. Paris Brothers expects to open the new office in advance of the World Cup, of which Kansas City is one of the host cities.

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HOBOKEN, N.J. — Cushman & Wakefield has arranged a 39,990-square-foot office lease renewal in Hoboken. The tenant, automated software provider NiCE Systems, will continue to occupy the entire 11th floor at the 1.5 million-square-foot Waterfront Corporate Center. David DeMatteis, Mina Shehata and Scott Schubert of Cushman & Wakefield represented the tenant in the lease negotiations. Alex Erdos represented the landlord, SJP Properties, on an internal basis.

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NEW YORK CITY — Horizon Kinetics Asset Management has signed an 18,713-square-foot office lease at Rockefeller Center in Midtown Manhattan. The firm is relocating from 470 Park Avenue South to the 27th floor of the 31-story building at 1270 Avenue of the Americas. Independent broker Marc Miller represented the tenant in the lease negotiations. Blythe Kinsler and Kate Walker internally represented the landlord, Tishman Speyer.

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RICHARDSON, TEXAS — GEICO has signed a 198,000-square-foot office lease at Galatyn Commons, located in the northeastern Dallas suburb of Richardson. The insurance provider, which last spring committed to occupying the entirety of Building B at the four-building, 800,000-square-foot campus, is now taking additional space in Building D. Mapletree, a global investment firm based in Singapore, owns Galatyn Commons. GEICO expects to hire another 1,000 people to staff its three Richardson buildings over the next two years.

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