NEW YORK CITY — The New York City School Construction Authority has signed a 15,330-square-foot office lease at 1070 Flatbush Ave. in Brooklyn. The academic design-build firm has committed to leasing the entire ground floor for 15 years. Geoff Bailey and Scott Rothstein of RIPCO Real Estate represented the undisclosed landlord in the lease negotiations. Bert Baradian of Cornerstone Group represented School Construction Authority.
Leasing Activity
DENVER — Pivot Energy has signed a 22,628-square-foot office lease for its new headquarters at 1601 Wewatta St. in Denver’s Lower Downtown (LoDo) district. The solar energy company occupies three-quarters of the seventh floor. Pivot Energy will add an adjacent, 4,000-square-foot space for hybrid and traveling employees. The new headquarters will feature a private patio with a green roof feature, outdoor seating and grills. Newmark’s Andrew Blaustein and Josh Pons represented the tenant in the transaction. CBRE’s Chris Phenicie and Allison Berry represented the landlord, Morgan Stanley.
CBRE, NewMark Merrill Sign Tenants to 96,000 SF Rialto Village Retail Development in California
by Jeff Shaw
RIALTO, CALIF. — CBRE and NewMark Merrill Cos. have completed the preleasing of Rialto Village, a 96,000-square-foot shopping center currently under construction in the Inland Empire city of Rialto. Everytable will occupy the final, 1,400-square-foot space at the development, which the companies broke ground on in August of last year. Other tenants include Mattress Firm, Arrowhead Credit Union, Quick Quack Car Wash, In-N-Out Burger, Cold Stone Creamery, The Joint, Nekter Juice Bar, Coffee Bean & Tea Leaf and West Coast Dental. Brian McDonald, Walter Pagel and Hannah Curran of CBRE and Greg Giacopuzzi of NewMark Merrill led leasing efforts for the property.
EDEN PRAIRIE, MINN. — Riddle’s Jewelry has signed a 1,732-square-foot lease to open a new store at Eden Prairie Center in the Twin Cities suburb of Eden Prairie. Opened in 1976, Eden Prairie Center totals 1.4 million square feet and features more than 100 shops and restaurants. Slated to open in May, Riddle’s Jewelry will occupy space on the upper level near the center court. In addition to the company’s U.S.-made jewelry, the Eden Prairie Center location will also feature a Pandora counter that will open at a later date. Riddle’s Jewelry is a family-owned and operated company with locations across nine states.
LOS ANGELES — Premier Workspaces has signed a 10-year lease for 14,500 square feet of shared office space at 2121 Avenue of the Stars, also known as Fox Plaza, in Los Angeles’ Century City. Constructed in 1986, the 34-story, Class A trophy building has become a landmark due to its role as Nakatomi Plaza in Die Hard. It is also where former President Ronald Reagan had his offices for several years after leaving public office. The Irvine Co. owns the asset. Gary Weiss of LA Realty Partners represented Premier Workspaces, while Rick Buckley of the same firm represented the Irvine in the lease transaction.
BURBANK, CALIF. — P3 Post, a full-service media post-production company, has leased 11,359 square feet of office space at 2921 W. Alameda Ave. in Burbank. The company will relocate to the new space on May 1. The two-story property was built in 1958. It is situated within the Burbank Media District and features 20 offices, a conference room, a kitchen and ample storage. CBRE’s Derek Newton represented the tenant in the lease negotiations.
SAN DIEGO — CBRE has arranged the lease of a 41,500-square-foot industrial space at 7615 Siempre Viva Road in San Diego’s submarket of Otay Mesa. HK Trans LLC leased the property at a market record rental rate of $1.28 per square foot, according to CBRE. The term is 62 months. The full-service supply chain logistics business will occupy about half the building. CBRE’s Ramin Salehi, John Smith and Joe Smith represented HK Trans LLC in the transaction. Mark Lewkowitz and Chris Holder of Colliers represented the landlord, DG Siempre Viva Property Owner LP.
HOUSTON —Locally based developer LEVCOR has signed four new tenants to leases at Post Oak Plaza, a shopping center in Houston. Restaurants Rakkan Ramen and Tacodeli will occupy 1,856 and 2,833 square feet, respectively. Additionally, Kohler will open a 4,038-square-foot kitchen and bath showroom, and Bassett Furniture has committed to 9,597 square feet. Previously announced tenants that are also scheduled to open this year include Nando’s Peri Peri, Balboa Surf Club and Bosch/Thermador/Gaggenau.
GRAND PRAIRIE, TEXAS — Bradford Commercial Real Estate Services has negotiated a 10,130-square-foot industrial lease at Trinity West Business Park in the central metroplex city of Grand Prairie. Michael Spain and Jim Ferris of Bradford represented the landlord in the lease negotiations. Brooke Ford of SVN Trinity Advisors represented the tenant, California-based solar energy provider V3 Electric. The deal brings the two-building, 140,798-square-foot development to full occupancy.
BLAINE, MINN. — Blaine35, a three-building industrial park totaling 317,400 square feet in the Minneapolis suburb of Blaine, is now fully leased. Action Target, a shooting range equipment manufacturer, leased 31,120 square feet in Building A and plans to take occupancy in May. Aspect Automation, an automated manufacturing solutions provider, leased the entire 98,900-square-foot Building B and expects to take occupancy in November. Dan Swartz and Austin Lovin of CBRE represented the developer, Canada-based Artis REIT, which completed the final building in December. Other tenants include Chandler Industries, Caerus Corp. and Jonco Die Inc.