Leasing Activity

CIP Real Estate Signs Hyundai, Walgreens to Industrial Leases in Norcross, Georgia

by John Nelson July 13, 2023

NORCROSS, GA. — CIP Real Estate has signed Hyundai and Walgreens to leases at Gwinnett Commons, a 1.3 million-square-foot industrial park in the Atlanta suburb of Norcross. A division of Hyundai preleased a newly delivered, 88,500-square-foot distribution facility at 1760 Corporate Drive. The property features 28-foot clear heights and dock- and grade-level loading with oversize doors. Walgreens preleased an 89,500-square-foot facility at 1700 Corporate Drive that CIP plans to deliver in October. The automated warehouse will feature above-standard office finishes and 32-foot clear heights. CIP built both facilities on a speculative basis before preleasing to Hyundai and Walgreens. The properties represent $25 million in total construction costs. The design-build team includes general contractor Ordner Construction and architect Randall Paulson Architects. Pinnacle Bank provided construction financing.

July 13, 2023

Development Leasing Activity Louisiana Restaurant Retail Southeast

Dorsey Development Adds Four Tenants to Tarpon Heights Shopping Center in Cut Off, Louisiana

by John Nelson July 13, 2023

CUT OFF, LA. — Dorsey Development Cos. has signed four new tenants to join the roster at Tarpon Heights Shopping Center, a 57,698-square-foot retail property in Cut Off. The center took a direct hit from Hurricane Ida in 2021, after which Dorsey has replaced the roof, rebuilt the façade and cleaned up debris at the site. Joining Tarpon Heights are Dollar General, which will return to its previous 11,398-square-foot space, as well as Bayou Ju Jitsu, El Viejon and Lafourche Parish Library. Bayou Ju Jitsu is a local martial arts studio, and El Viejon is a Mexican restaurant that is replacing the former El Paso restaurant.

July 13, 2023

Indiana Industrial Leasing Activity Midwest

Adidas Signs 599,000 SF Industrial Lease Renewal in Indianapolis

by Kristin Harlow July 13, 2023

INDIANAPOLIS — Adidas has signed a 599,000-square-foot industrial lease renewal at 8677 Logo Athletic Court in Indianapolis. Adidas utilizes the property as a finishing facility and produces screen-printed team sport apparel for both professional and amateur teams around the world. Jason Speckman of Colliers represented the landlord, Link Logistics Real Estate. Jimmy Cohoat, Andrea Hopper and Billy Powers of Colliers represented Adidas.

July 13, 2023

Illinois Industrial Leasing Activity Midwest

UPS Inks Lease for 34,700 SF Industrial Service Facility in Addison, Illinois

by Kristin Harlow July 13, 2023

ADDISON, ILL. — UPS has inked a lease for a 34,700-square-foot industrial service facility located at 1404 W. Fullerton Ave. in Addison. The owner, Clear Height Properties, purchased the vacant property in September 2022 and executed a series of capital improvements, including a new roof, mechanical systems, drive-in doors, exterior painting and parking lot replacement. Dominic Carbonari of JLL negotiated the lease. Mary Kay McCreery of Strategic Leasing Law Group served as the attorney on behalf of Clear Height.

July 13, 2023

Industrial Leasing Activity Texas

Ryder Integrated Logistics Signs 234,478 SF Industrial Lease Near Fort Worth

by Taylor Williams July 13, 2023

HALTOM CITY, TEXAS — Third-party freight services provider Ryder Integrated Logistics has signed a 234,478-square-foot, full-building industrial lease at Northmark Commerce Center in the Fort Worth metro of Haltom City. The site spans 20 acres, and the cross-dock facility includes a 104-stall trailer drop lot. Brad Struck and Clint Manning of Cresa represented the tenant in the lease negotiations. Matt Carthey and George Jennings of Holt Lunsford Commercial represented the landlord, Creation Equity.

July 13, 2023

Leasing Activity Office Texas

Method Architecture to Open 8,612 SF Office at East River in Houston

by Taylor Williams July 13, 2023

HOUSTON — Method Architecture will open an 8,612-square-foot office at East River, a 150-acre mixed-use development in Houston’s Historic Fifth Ward. The tenant is relocating from a space on the east side of downtown Houston and expects to open this fall. About 60 employees will work in the office, which features an open layout with hotel-style workstations. Employees also have access to a nine-hole, par-three golf course that opened at East River in fall 2022, as well as pickleball courts, a restaurant and 15,000-square-foot music venue designed by Method. Midway owns East River.

July 13, 2023

California Leasing Activity Office Western

McCarthy Building Cos. Expands Presence in San Diego with 30,000 SF Office Lease

by Jeff Shaw July 12, 2023

SAN DIEGO — McCarthy Building Cos. is strengthening its presence in the San Diego market with a 30,000-square-foot lease at One Paseo, a newly developed mixed-use campus. McCarthy, known for its construction projects in the area, has chosen a prime location surrounded by retail and dining options for its new office. McCarthy’s new office space features modern design and amenities to support its construction and preconstruction services. JLL’s Nicole Winters, Shawn Lorentzen and Scott Wetzel represented McCarthy in the transaction.

July 12, 2023

District of Columbia Leasing Activity Office Southeast

Texas A&M Expands Lease to 70,500 SF at 1620 L Street Office Building in D.C.

by John Nelson July 12, 2023

WASHINGTON, D.C. — Texas A&M University has signed a 23,000-square-foot office lease expansion at 1620 L Street, a 171,000-square-foot office building in Washington, D.C. The university, which first signed on at the building in 2020, now occupies approximately 70,500 square feet. Doug Mueller, Evan Behr, Nathan Beach and Thomas Myers of JLL represented the landlord, DivcoWest, in the lease negotiations. Doug Damron and Chris Lucey of Newmark represented Texas A&M. Texas A&M uses 1620 L Street as a “beachhead” location for students in the D.C. area. The building houses the university’s Bush School of Government and Public Service and includes classrooms, conference rooms, study lounges, collaborative/huddle rooms, an admissions center, catering kitchen, snack and beverage stations and a 150-seat theater/lecture hall.

July 12, 2023

Leasing Activity Maryland Mixed-Use Retail Southeast

Chasen Cos. Adds Puttshack to The Whitney Mixed-Use Building in Baltimore’s Harbor East District

by John Nelson July 12, 2023

BALTIMORE — Chasen Cos. has signed interactive mini-golf retail concept Puttshack to join the tenant roster at The Whitney, a five-story mixed-use building in Baltimore’s Harbor East neighborhood. The historic property was originally the home of the Meyer Seed Co. Set to open in late 2024, the Baltimore Puttshack will be the brand’s first location in Maryland. The almost 25,000 square-foot space will feature three nine-hole mini-golf courses, as well as private event space, two full-service bars and an outdoor patio space with seating for almost 50 patrons. Since opening its first location in 2018, Chicago-based Puttshack now has nine locations in the United States: Atlanta, Boston, Chicago, Miami, Denver, Houston, Pittsburgh, Scottsdale and St. Louis, as well as four in the United Kingdom. Puttshack plans to open Dallas and Nashville venues by the end of the year.

July 12, 2023

Leasing Activity Office Texas

Southeast Texas Regional Advisory Council Signs 10,196 SF Office Lease Renewal in Houston

by Taylor Williams July 12, 2023

HOUSTON — The Southeast Texas Regional Advisory Council, a nonprofit that serves the healthcare industry, has signed a 10,196-square-fooot office lease renewal at 1111 N. Loop W in Houston. Ryan Hand, Harry Holmes and Charlie Neuhaus of Partners Real Estate represented the tenant in the lease negotiations. Guy Brown of Texas Overland represented the landlord, Nitya Capital.

July 12, 2023

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