NEW YORK CITY — Private equity firm Clayton Dubilier & Rice has signed a 144,000-square-foot office lease at 550 Madison Avenue in Midtown Manhattan. The firm is relocating and expanding from the Seagram Building and taking six floors at the 41-story, 800,000-square-foot building. The Olayan Group owns the building, which recently underwent a repositioning and now houses an amenity garden, fitness center and other wellness-based amenities and features. Olayan has also engaged restaurateur Simon Kim to bring a new 15,000-square-foot restaurant concept to the building.
HOUSTON — Partners Real Estate has arranged a 15,600-square-foot industrial lease in Houston. According to LoopNet Inc., the single-tenant property at 14720 Vickery Drive was built in 2012 and offers 28-foot clear heights. Clint Hankla of Partners represented the landlord, a family office, in the lease negotiations. Nick Bergmann of CBRE represented the tenant, U.S. Foods.
FARMERS BRANCH, TEXAS — AlarMax Distributors Inc., a provider of home security products, has signed an 11,430-square-foot industrial lease in the northern Dallas metro of Farmers Branch. The building at 11431 Ferrell Drive totals 33,140 square feet, and the space includes a 3,000-square-foot showroom. Andrew Gilbert and Keaton Brice of Holt Lunsford Commercial represented the landlord in the lease negotiations. Kyle Espie and Brian Pafford of Bradford Commercial Real Estate Services represented the tenant.
WALNUT CREEK, CALIF. — CBRE has brokered new office leases at Ygnacio Center in Walnut Creek. The leases, totaling 13,916 square feet, were secured for accounting firm BDO USA and law firm Pennington LLP. Ygnacio Center is a Class A office complex spanning 536,000 square feet and three buildings. The recently enhanced amenities include a state-of-the-art conference center, as well as bike parking and showers for tenants. Phil Damaschino, Jeff Birnbaum and Andy Schmitt from CBRE represented the landlord, Hines. Gabe Chao from Transwestern represented BDO and Mindy Bacharach from Commercial East Bay represented Pennington LLP.
CHATTANOOGA, TENN. — Four new retail tenants will join Hamilton Place, a 1.2 million-square-foot enclosed shopping mall in Chattanooga. Crunch Fitness will open a 35,000-square-foot location at the property’s former Sears location, and restaurants Texas Roadhouse, Taco Mamacita and Community Pie have also signed leases. Construction on the Crunch Fitness space is scheduled to begin in August, with the opening planned for later this year. Work is currently underway on Community Pie and Taco Mamacita, which will open in July and next year, respectively. Texas Roadhouse is also scheduled to open next year, with construction anticipated to begin later this month. Chattanooga-based CBL Properties is the landlord and purchased the mall’s former Sears building in 2017.
RICHARDSON, TEXAS — Medical Practice Solutions has signed a 12,203-square-foot healthcare lease at 1125 E. Campbell Road in Richardson, a northeastern suburb of Dallas. According to LoopNet Inc., the building was constructed in 1997, renovated in 2019 and totals 205,817 square feet. Clint Madison, John Fancher and Zach Bean of Cushman & Wakefield represented the landlord, Stanton Road Capital, in the lease negotiations. Kent Smith of NAI Robert Lynn represented the tenant.
SOUTHLAKE, TEXAS — IKEA will open a small-format store within Park Village shopping center in Southlake, located in the northern-central part of the metroplex. According to local media sources, including NBCDFW, the store will span about 11,000 square feet. The new IKEA will also have space for personalized interior design planning and will serve as a pick-up hub for online purchases. The opening is slated for the fourth quarter. IKEA operates two large-format stores in the metroplex, one in Frisco and the other in Grand Prairie.
BOULDER, COLO. — CordenPharma has secured a lease for a recently renovated life sciences property in Boulder. The property is located at 2300 55th St. Acquired by TriTower Financial Group in 2021, the building has undergone extensive renovations to cater to the advanced technology needs of life sciences companies. The pharmaceutical contract development and manufacturing organization will occupy 61,117 square feet across both floors of the facility. The company plans to utilize the space for client meetings, engineering, and research and development operations, further expanding its operations in the area. CordenPharma has existing nearby facilities on 55th Street and Sterling Drive. Blake Harris with CBRE represented TriTower in the lease transaction.
BROOMFIELD, COLO. — Atomos Nuclear and Space Corp. has become the first tenant in Tepuy Properties’ 63,412-square-foot warehouse in Broomfield. The recently renovated building is located at 2360 Industrial Lane. Atomos specializes in space logistics with its development and operation of orbital transfer vehicles (OTVs) for missions in outer space. Its first mission is scheduled for launch in January 2024. The building underwent a $5 million renovation that divided it into six separate suites with common amenities. Atomos Space has leased two of the four storefronts, occupying 19,288 square feet, or about 30 percent of the building. The renovation included improvements to the roof, HVAC and electrical systems, loading dock, restrooms and overall aesthetics of the building’s exterior. Tepuy Properties plans to expand the Broomfield property by constructing a second building on the additional 2.5 acres of land. Once fully developed, the property is expected to offer about 100,000 square feet of rental space, making it the largest property in Tepuy’s portfolio.
CHICAGO — Worldwide Flight Services (WFS) has leased a new 132,000-square-foot cargo facility that is part of the third phase of the Northeast Cargo Complex at Chicago’s O’Hare International Airport. Realterm developed and owns the facility, which features 122,000 square feet of warehouse space and 10,000 square feet of office space. There is also more than 200,000 square feet of ramp space that can accommodate two group VI aircraft such as the Boeing 747. The project team included BOWA, Clayco and d’Escoto Inc. Realterm is targeting LEED Silver certification for the property, which is equipped with electric vehicle charging stations and solar panels. WFS is a provider of air cargo logistics and ground handling services.