NEW YORK CITY — JLL has negotiated a 30,166-square-foot office lease at 875 Third Avenue in Midtown Manhattan. Paul Glickman, Diana Biasotti, Kristen Morgan and Harrison Potter of JLL represented the landlord, Global Holdings Management Group, in the lease negotiations. Jeffrey Peck, Daniel Horowitz, Roi Shleifer and Jacob Stern of Savills represented the tenant, the New York Compensation Insurance Rating Board. The nonprofit association of insurance carriers is relocating from 733 Third Avenue to the entire eighth floor of the 29-story building. The deal brings the 750,000-square-foot property, which was originally constructed in 1982, to 98 percent occupancy.
EAST RUTHERFORD, N.J. — Babies ‘R’ Us has opened its 10,000-square-foot flagship store at American Dream, a 3 million-square-foot entertainment destination in East Rutherford, roughly 13 miles outside New York City. The store features interactive experiences in addition to a baby registry lounge, nursery design center, learning center and comfort zone. This marks the return of the chain to the United States following WHP Global’s acquisition of both the Babies ‘R’ Us and Toys ‘R’ Us brands in 2021 and the launch of a new partnership between Toys ‘R’ Us and Macy’s last year.
SHREVEPORT, LA. — Los Angeles-based Industrial Realty Group (IRG) has signed offshore drilling giant Schlumberger Ltd. to a 1 million-square-foot industrial lease in Shreveport. The tenant will join Hyundai Glovis, Pratt Paper and Thyssenkrupp Supply Chain Services at the 3.5 million-square-foot Shreveport Business Park. Schlumberger will occupy a portion of two buildings and utilize the site for high-tech manufacturing. The company’s $18.5 million investment is expected to create 596 new direct jobs, and Louisiana Economic Development estimates the project will result in an additional 749 new indirect jobs.
MCKINNEY, TEXAS — Pegasus Industries, a provider of farming equipment, has signed a 171,398-square-foot industrial lease at McKinney Trade Center in metro Dallas. The property, which is under construction, sits on 36 acres and is now fully preleased. Brett Lewis of Lee & Associates represented the tenant in the lease negotiations. Adam Graham and Ken Wesson, also with Lee & Associates, represented the landlord, Chicago-based ML Realty Partners.
ARLINGTON, TEXAS — Bradford Commercial Real Estate Services has negotiated a 10,064-square-foot office lease renewal at Arlington Downs Tower, located in the central part of the Dallas-Fort Worth metroplex. Erik Blais and Richmond Collinsworth of Bradford represented the landlord in the lease negotiations. Jim Montgomery of Swearingen Realty Group represented the tenant, The Texas Alcoholic Beverage Commission.
CHICAGO — Two tenants have expanded their leases within Fulton Labs, a 725,000-square-foot, two-building life sciences development in Chicago. The Chan Zuckerberg Biohub Chicago, a biomedical research institute launched by Priscilla Chan and Mark Zuckerberg, signed a lease for 28,200 square feet at 400 N. Aberdeen St. The tenant initially signed a lease earlier this year at Fulton Labs’ other building, which is located at 1375 W. Fulton St. Since there is no further space at 1375 W. Fulton, the biohub will move into a new space at 400 N. Aberdeen in the first quarter of 2024, and temporarily occupy space in a science-ready lab suite at 1375 W. Fulton until then. Venture accelerator Portal Innovations is expanding its lease from 6,000 to 55,000 square feet at 400 N. Aberdeen. ESG Architects, CRB Group and Power Construction are completing the interior build-outs for both tenants. Dan Lyne of CBRE represented ownership, Trammell Crow Co.
GOODYEAR, ARIZ. — Eight tenants are joining Canyon Trails Towne Center, a 90-acre, mixed-use development in Goodyear, roughly 19 miles west of Phoenix, bringing the property to full occupancy. Chipotle Mexican Grill recently opened a restaurant at the center, and Michael’s and Five Below will occupy 18,300 and 10,434 square feet, respectively. Target and Ross Dress for Less have also signed leases at the property, and Starbucks Coffee, Freddy’s Steakburgers and Denny’s are currently underway on the construction of spaces scheduled to open this fall. The landlords, principals of Santa Cruz Seaside Co., are additionally negotiating leases with two retail big box stores to occupy 30,000 square feet of new, ground-up construction. Vestar manages the property.
BURLINGTON, MASS. — Envision Energy, a Chinese provider of wind turbines and other renewable energy products, has signed a 35,276-square-foot life sciences lease in Burlington, a northwestern suburb of Boston. The tenant has committed to a full-building lease within Northwest Park, a facility that is owned by Nordblom Co. Jim Boudrot, Steve James and Patrick Grady of Hunneman represented the tenant in the lease negotiations.
HOUSTON — Omega Transactions Corp., a provider of electronic payment solutions, has signed a 4,055-square-foot office lease at 5858 Westheimer Road in Houston. According to LoopNet Inc., the eight-story building was constructed in 1981 and totals 130,104 square feet. John Zivley of Partners Real Estate represented the tenant in the lease negotiations. Kevin Nolan and Kurt Kitsler of Colliers represented the landlord, TCP Spectrum Partners Ltd.
OAKLAND, CALIF. — CBRE has arranged two lease extensions totaling 10,000 square feet at the Rotunda Building in Oakland. The extending tenants include East Bay Endoscopy Surgery Center, an outpatient endoscopic facility specializing in gastroenterology, and East Bay Center for Digestive Health, a provider of comprehensive gastroenterology and hepatology services. Rubicon Point Partners owns the 300,000-square-foot office and retail building, and is currently underway on upgrades to building systems, common areas and tenant amenities. CBRE’s Andy Schmitt, Trent Holsman and Alex Robertson represented the landlord. Michael Sharapata of JLL represented East Bay Endoscopy Surgery Center, while Russel Gallaway of Gallaway Commercial represented East Bay Center for Digestive Health.