Technology, like commercial real estate, becomes increasingly vulnerable to the need for replacement and updates over time. Just as multifamily landlords can update properties by periodically replacing outmoded flooring and fixtures to suit the latest occupier preferences, technology must also keep up with the latest trends. For the best renter experience, multifamily properties need Internet connectivity that will serve residents as their technological needs grow and their tolerance for frequent outages diminishes. Disruptions associated with repairs or network upgrades can threaten customer satisfaction and renewal rates. Unfortunately for many landlords who rely on traditional telecommunications lines for their properties’ Internet, modern usage is straining older infrastructure. Booming wireless technology use is gobbling up bandwidth to connect everything from consumers’ phones and laptops to fitness monitors, smart TVs and other household appliances. As a vice president of product catalog who has worked for over a decade at broadband service provider Pavlov Media, John Danner understands the problem of limited Internet bandwidth all too well. He is eager to see technological improvements that will replace these old systems. “The old copper infrastructure can’t meet the requirements of the next generation of wireless connectivity,” explains Danner. “With fiber-optic connections, the sky is the …
Leasing Activity
THE WOODLANDS, TEXAS — Construction firm Webber LLC has signed a 46,164-square-foot office lease renewal at Hughes Landing, a 79-acre campus located about 30 miles north of Houston in The Woodlands. Jerrod McQuain, Paul Penland and Mark Reilly of JLL represented Webber in the lease negotiations. Robert Parsley, Norman Munoz and Jillian Fredericks of Colliers represented the landlord, The Howard Hughes Corp.
SAN DIEGO — Fruit juice concept Sip Fresh has entered a three-unit franchise agreement with operator Kevin Tam for locations in metro San Diego. The deal includes the acquisition of an existing store located in the Westfield UTC Mall and plans for two additional locations in the area. Tam’s previous experience includes concepts Wetzel’s Pretzels and Sweetgreen, as well as other quick-service restaurant brands and food trucks. Sip Fresh plans to sign 35 new franchise agreements by the end of the year.
CHICAGO — Owner Accesso has secured nearly 60,000 square feet of office leases at Monroe Plaza in Chicago. Signing new leases were JFMC Facilities Corp., the real estate arm of the Jewish Federation of Metropolitan Chicago, and PartsTrader, a cloud-based parts procurement platform for the collision repair industry. Signing renewals were Great American Insurance Group, Intersect Illinois, Rex Electric and EFG Group LLC. Mason Taylor, Karoline Eigel and Paige Krueger of Cushman & Wakefield represented Accesso in the leases.
MAYNARD, MASS. — Alaka’i Technologies, a locally based provider of air mobility systems, has signed an 18,473-square-foot office lease in Maynard, a western suburb of Boston. Trevor Holmes and Garrett Quinn of SVN | Parsons Commercial Group | Boston represented the tenant, which is taking space at the 1.1 million-square-foot Mill & Main complex, in the lease negotiations. James Tambone of Lincoln Property Co. represented the landlord, an entity doing business as AS Clocktower LLC.
NASHVILLE, TENN. — Work-focused members organization The Malin will open a 12,000-square-foot club in Paseo South Gulch in Nashville, marking the second location for the brand in the city. Located within the project’s Voorhees Building, The Malin South Gulch will feature 58 dedicated desks, seven private offices, four meeting rooms, three lounges and a library. Kingston Lafferty Design is providing interior design services for the project, which is scheduled for completion this fall. SomeraRoad is the developer and owner of Paseo South Gulch.
SCHAUMBURG, ILL. — Primient, a producer of food and industrial products from plant-based, renewable sources, has signed a 23,725-square-foot lease at Woodfield Preserve Office Center in the Chicago suburb of Schaumburg. Zeller owns the 29-acre office campus, which totals 325,000 square feet across two buildings. Each building features a full set of amenities such as a café, fitness center, conference center, game room, mother’s room, bike storage area and tenant lounges. There is also a new courtyard with shaded pergolas and seating. William Elwood, Rob Graham and Adam Lawler of CBRE represented Zeller, while Paul Diederich of CBRE represented the tenant. JC Anderson is completing the interior build-out for Primient.
OVERLAND PARK, KAN. — Flying Cow Gelato and Made in KC have inked retail leases to open at the Edison District in Overland Park. The tenants will occupy 1,400 and 1,575 square feet, respectively. The transactions mark Flying Cow Gelato’s third location and Made in KC’s 12th location in the area. Made in KC is scheduled to open in July, with Flying Cow Gelato opening in the fall. The Edison District, owned by Overland Park Real Estate, features a mix of office, retail, restaurant and outdoor space. JLL negotiated the leases on behalf of ownership. The retail space at the Edison District is now fully leased. Made in KC sells local goods, gifts and apparel. Flying Cow Gelato makes fresh gelato every day and is the sister store to Annedore’s Fine Chocolates.
FORT WORTH, TEXAS — Chubby Gorilla, a provider of liquid packaging services, has signed a 54,915-square-foot industrial lease at Champions Business Park in Fort Worth. Reid Bassinger and Nathan Denton of Lee & Associates represented the landlord, Hopewell Development, in the lease negotiations. Sam Pruitt and Luke Harp of Site Selection Group represented the tenant.
HOUSTON — Locally based brokerage firm Finial Group has negotiated a 9,750-square-foot industrial lease renewal at 13014 Brittmoore Park Drive in Houston. According to LoopNet Inc., the single-tenant property was built in 2006. John Buckley and Doc Perrier of Finial Group represented the undisclosed landlord in the lease negotiations. The tenant was automotive parts and services provider Serious HP.