MORRISTOWN, N.J. — Freight and logistics company Allmodes Transport has signed a 151,000-square-foot industrial lease renewal at 1 Cory Road in the Northern New Jersey community of Morristown. The 296,000-square-foot building offers 6.5 acres of combined car and trailer parking space and is currently 97 percent leased. New York-based Taconic Partners owns the building.
SOUTH SALT LAKE, UTAH — Safehold (NYSE: SAFE) has arranged a $26.5 million ground lease to facilitate the ground-up development of One Burton, an apartment community in South Salt Lake’s new downtown district. Abstract Development Group, an affiliate of a New York-based multifamily real estate owner, will develop the 180-unit community within a Qualified Opportunity Zone.
CARROLLTON, TEXAS — Diversco Inc., a South Carolina-based provider of marine equipment, has signed a 51,498-square-foot industrial lease renewal in the northern Dallas metro of Carrollton. The space is located within Marsh Business Park West. Brian Pafford of Bradford Commercial Real Estate Services represented the landlord, an entity doing business as DK Industrial Dallas LLC, in the lease negotiations. The representative of the tenant was not disclosed.
LEXINGTON, MASS. — Locally based biotechnology firm Dicerna Pharmaceuticals has signed a 107,238-square-foot life sciences lease expansion at its Hayden Avenue Campus in Lexington, located north of Boston. The tenant, which has operated out of the site since 2014, currently occupies more than 90,000 square feet. The expansion brings Dicerna’s total footprint in Lexington to more than 275,000 square feet. Boston-based King Street Properties owns the Hayden Avenue Campus.
DETROIT — Real estate owner and developer Bedrock has partnered with Raeden, a digital infrastructure platform provider, to open the first carrier hotel in downtown Detroit later this month. Carrier hotels are buildings that house networks and cloud services in the center of a downtown area. Raeden specializes in enabling technology deployments across real estate portfolios. The carrier hotel, which will be located within Bedrock’s 615 West Lafayette property, will centralize internet connectivity and technology services while making efficient use of existing fiber assets. Instead of each building within Bedrock’s portfolio requiring individual internet and technology installations, centralization at 615 West Lafayette decrease deployment timelines and lower costs, according to Bedrock. The result will enable Bedrock tenants the ability to access faster services, while enabling expanded internet access throughout Detroit. Over the next 12 months, Bedrock and Raeden will continue to collaborate on additional technological investments, including activating existing data center assets.
BAY CITY, MICH. — North Shore Health Services has signed an 11,600-square-foot office lease in Bay City, which is located near the base of the Saginaw Bay on Lake Huron. The property is located at 1426 Straits Drive. The tenant provides behavior analysis therapy for children and families, particularly those diagnosed with autism. North Shore plans to open in December. Colliers Lansing represented the landlord, Cats Holding Co. LLC. North Shore opened its first location in Auburn in 2017 and has since opened locations in Ithaca and Lansing.
LEESBURG, VA. — Rappaport has signed five new tenants to join Village at Leesburg, a 550,593-square-foot shopping center located along Route 7 in Leesburg. Rappaport owns, manages and leases the property, which houses more than 75 tenants, including anchors Wegmans, CMX Cinemas, LA Fitness and Bowlero. The new tenants include Spitz, a Mediterranean restaurant concept; Altitude Trampoline Park, an entertainment venue with more than 80 locations; Anchor Bar, a wings restaurant concept with more than 50 locations; A Place to Be, a nonprofit based in Middleburg, Va., that offers art and music therapy programs; and national chain Salon Lofts. Altitude opened recently, and the other four concepts are set to open in 2023. Village at Leesburg will be the first Virginia location for Spitz, Altitude and Anchor Bar. In addition to the new retailers, which will bring 40,000 square feet of new retail space, Woodhouse Day Spa and Dana’s Cake Shoppe are expanding their locations within the development.
HOUSTON — Skyline Executive Suites has signed a 21,735-square-foot lease at Kirkwood Tower, located at 11757 Katy Freeway in West Houston. According to LoopNet Inc., the property was built in 1984 and renovated in 2015 and totals 285,682 square feet. Kevin Poynter of Poynter Commercial Properties Corp. represented the tenant in the lease negotiations. Adam Ross of Stream Realty Partners represented the undisclosed landlord.
INDIANAPOLIS — IWG, a provider of flexible workspaces, has unveiled plans to open a new location in Indianapolis. The company cites growing demand for hybrid working and flexibility for companies of all sizes. The new location will be situated in the College Park neighborhood of Indianapolis near Highway 465. IWG is opening the vast majority of its new locations in partnership with commercial real estate owners, developers and franchisee investors.
TAYLOR AND STERLING HEIGHTS, MICH. — Advance Auto Parts has signed leases to open two new locations in Michigan. The auto parts retailer inked a lease for 20,250 square feet in the Taylor Commons shopping center in Taylor as well as 20,226 square feet at the Clinton Valley shopping center in Sterling Heights. Larry Siedell and Tjader Gerdom of Gerdom Realty & Investment represented the tenant. Eric Unatin of Mid-America Real Estate Group represented the landlord in the Sterling Heights lease.