Tuesday, April 22, 2025
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Leasing Activity

GeorgiaLeasing ActivityLife SciencesOfficeSoutheast

Duracell Selects Science Square in Midtown Atlanta for New R&D Headquarters

by John Nelson

ATLANTA — Battery manufacturer Duracell has selected Science Square in Midtown Atlanta for its new global headquarters for research-and-development (R&D). Trammell Crow Co. and Georgia Institute of Technology (Georgia Tech) jointly own the 18-acre Science Square development, which sits adjacent to Georgia Tech’s campus. Duracell plans to invest approximately $56 million into its new space at 101 Nerem St. NW and create 110 jobs. Civic and utility partners that helped Duracell in its site selection include the Georgia Department of Economic Development’s Global Commerce team, Invest Atlanta, Select Fulton, Metro Atlanta Chamber, Georgia Power and the University System of Georgia. Duracell has had a footprint in Georgia for years. The company currently has a manufacturing facility in LaGrange that has been in operation since 1980 and a logistics and distribution plant in Fairburn that began operations in 2020.

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AcquisitionsFloridaIndustrialLeasing ActivitySoutheast

Digiacomo Group, JLL Arrange $25.8M Sale-Leaseback of Cold Storage Facility Near Miami Airport

by John Nelson

MIAMI — Digiacomo Group and JLL have negotiated the $25.8 million sale-leaseback of a cold storage facility located at 2323 N.W. 72nd Ave. in Miami. The seller, produce distributor Sun Belle LLC, will lease back the 82,261-square-foot property from the new owner, locally based Iconic Equities LLC, which specializes in industrial outdoor storage (IOS) and traditional industrial development. Built in 1978 and renovated in 2019, the cold storage facility sits on a 3.3-acre lot near Milam Dairy Road on the outskirts of the Miami International Airport campus. The property features 30.5-foot clear heights in the warehouse space, 24-foot clear heights in the cooler space, 11 dock-high doors and one grade-level door. Roger Zuniga of Digiacomo Group, along with Cody Brais, Luis Castillo and Taylor Osborne of JLL, represented Sun Belle in the sale-leaseback transaction. Additionally, Christopher Drew, Michael DiCosimo and Jovi Rodriguez of JLL arranged an undisclosed amount of acquisition financing for Iconic Equities.

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Leasing ActivityNew YorkNortheastOffice

NYCBS Signs 35,469 SF Office Lease at Radio Tower in Upper Manhattan

by Taylor Williams

NEW YORK CITY — New York Cancer & Blood Specialists (NYCBS) has signed a 35,469-square-foot office lease in Upper Manhattan. The oncology practice will occupy three full floors at Radio Tower, a mixed-use building in the Washington Heights neighborhood. Marty Cottingham, Michael Gottlieb, Patrick Steffens, Joel Wechsler and Alexis Odgers of Avison Young represented the landlord, Youngwoo & Associates, in the lease negotiations. Arthur Mirante II of Savills and Ari Malul of Schuckman Realty represented NYCBS.

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Leasing ActivityNew YorkNortheastOffice

SharkNinja to Open 14,296 SF Office in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — SharkNinja will open a 14,296-square-foot office in Midtown Manhattan. The Massachusetts-based product design and technology company plans to occupy an entire floor at 41 Madison Avenue, a 42-story, 560,000-square-foot building. Steven Jacobson of Hopkinson Associates represented SharkNinja in the negotiations for the 10-year lease. Robert Steinman represented the landlord, Rudin, on an internal basis.

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Leasing ActivityMidwestRetailWisconsin

Starbucks Signs Three New Retail Leases in Wisconsin

by Kristin Harlow

GREEN BAY, TWO RIVERS AND MADISON, WIS. — Starbucks has signed three new retail leases in Wisconsin. The tenant leased 2,460 square feet at 1555 W. Mason St. in Green Bay, 2,262 square feet at 1509 Washington St. in Two Rivers and 2,665 square feet at 1609 S. Park St. in Madison. Tony Colvin of Mid-America Real Estate represented Starbucks in all of the leases. The landlords included Military Avenue Partners, DCOLE TR LLC and 1609 S Park St LLC.

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CaliforniaDevelopmentLeasing ActivityLife SciencesMixed-UseOfficeTop StoriesWestern

Chan Zuckerberg Initiative Signs 225,000 SF Lease to Anchor Elco Yards Development in Silicon Valley

by John Nelson

REDWOOD CITY, CALIF. — The Chan Zuckerberg Initiative (CZI), one of the largest philanthropies supporting biomedical research and AI-driven science, has signed a 225,000-square-foot life sciences lease in Silicon Valley. The company will fully occupy one of four buildings at IQHQ Inc.’s Elco Yards mixed-use development underway in Redwood City, roughly 25 miles south of San Francisco. Situated along the Caltrain corridor on the San Francisco Peninsula, Elco Yards is a 670,000-square-foot mixed-use development that comprises four buildings offering lab, office and retail space. The project, which began construction in 2021, will deliver additional phases between mid-2025 and 2026. CZI is expected to officially occupy its newly leased space in 2027. The deal brings Elco Yards to 30 percent preleased, according to IQHQ. Founded by Dr. Priscilla Chan and Facebook founder Mark Zuckerberg in 2015, CZI’s purpose is to eradicate disease, improve education and address the needs of local communities, while building a more “inclusive, just and healthy future for everyone,” according to the company’s mission statement. “We are excited to continue to grow our roots in Redwood City with this new space for our biomedical research efforts,” says Marc Malandro, chief operating officer of CZI and the CZ Biohub …

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Affordable HousingDevelopmentIllinoisLeasing ActivityMidwestMultifamily

Habitat Completes Lease-Up of OC Living Phase I Mixed-Income Development in Chicago

by Kristin Harlow

CHICAGO — Habitat has completed the lease-up of OC Living Phase I, the first residential building within the $200 million Ogden Commons community in Chicago’s North Lawndale neighborhood. Located at 1325 S. Washtenaw Ave., the building features 92 units, 90 percent of which are affordable, including 37 Chicago Housing Authority (CHA) units. Simultaneously, Habitat has closed financing and finalized a 75-year ground lease for OC Living Phase II at nearby 1312 S. Talman Ave. The $38 million building is scheduled to open in the second quarter of 2026, delivering an additional 75 units with 76 percent of them reserved as affordable housing, including 30 CHA-designated residences. Site preparation is underway. Amenities will include a children’s tot lot, bike racks, walking path, package room, resident lounge, fitness center and bike room. A planned third phase of OC Living is expected to feature townhome and multi-flat units, which will feature larger units designed for families. Habitat intends to break ground on Phase III in the second half of 2026 or early 2027. Once completed, Ogden Commons will feature 120,000 square feet of commercial and retail space with more than 350 mixed-income housing units. Designed by Habitat, along with Sinai Chicago and the …

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IllinoisLeasing ActivityMidwestRetail

Activate to Open Interactive Gaming Experience at Fox River Commons in Naperville, Illinois  

by Kristin Harlow

NAPERVILLE, ILL. — Activate, an interactive gaming facility featuring a blend of physical activity and gaming experience, has signed a lease to open at Fox River Commons shopping center in the Chicago suburb of Naperville. The lease marks the second location in the greater Chicago area for Activate. In partnership with Sounds Fun Entertainment, Activate currently operates more than 40 locations across the United States and Canada. Activate consists of 14 separate game rooms in which participants are tasked with conquering an experience that lasts about 75 minutes. The tenant signed a lease with property owner Continental Realty Corp. (CRC) for nearly 12,000 square feet at Fox River Commons and plans to open this spring. Kristin Perry of CRC and Brooke Spinell of Mid-America Real Estate represented the landlord in the lease, while Courtney Waldon of Braden Real Estate represented the tenant. Activate also plans to open its third Illinois facility in the River North area next year.

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Leasing ActivityOfficeTexas

Holt Lunsford Negotiates 29,571 SF Office Lease Renewal in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Locally based brokerage firm Holt Lunsford Commercial has negotiated a 29,571-square-foot office lease renewal in Fort Worth. The space is located within Overton Centre, a two-building, 417,465-square-foot development on the city’s southwest side. Jake Neal and Matt Carthey of Holt Lunsford represented the landlord, an entity doing business as FLDR/TLC Overton Centre LP, in the lease negotiations. Jim Smith of Cushman & Wakefield represented the tenant, HCA Information Technology & Services.

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Leasing ActivityNew YorkNortheastRetail

Nordstrom Rack to Open 25,000 SF Store in Lake Grove, New York

by Taylor Williams

LAKE GROVE, N.Y. — Fashion retailer Nordstrom Inc. will open a new 25,000-square-foot in Lake Grove, a hamlet located on Long Island, under its Nordstrom Rack brand. Scheduled to open in fall 2025, the store will be situated within the 150,000-square-foot Smith Haven Plaza. Other tenants at the shopping center include Trader Joe’s, Old Navy, Athleta and Ulta Beauty. A partnership between Breslin Realty Development Corp. and Colin Development LLC owns Smith Haven Plaza.

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