Leasing Activity

Cubework Leases 916,150 SF Building at Cotton 303 Logistics Center in Glendale, Arizona

by Amy Works February 14, 2023

GLENDALE, ARIZ. — Cubework, a City of Industry, Calif.-based industrial co-working company, has signed a long-term lease to occupy a 916,150-square-foot industrial warehouse/distribution building in Glendale. The property is located within Cotton 303 Logistics Center at 6801 N. Cotton Lane. With this lease, Cubework now occupies nearly 2 million square feet of space in greater Phoenix metro. Cubework offers on-demand warehouse units and co-working spaces complete with on-site staff. Don MacWilliam and Payson MacWilliam of Colliers Arizona represented the landlord, Chicago-based Heitman Capital Management, while Kander Paciific represented Cubework in the lease negotiations.

February 14, 2023

Leasing Activity Office Texas

Lightbeam Health Solutions Signs 33,000 SF Office Lease in Coppell, Texas

by Taylor Williams February 14, 2023

COPPELL, TEXAS — Lightbeam Health Solutions, a provider of software for the healthcare industry, has signed a 33,000-square-foot office lease at Cypress Waters in Coppell, located north of DFW International Airport. Cribb Altman, Jon McNeil and Harrison Burt of JLL represented the tenant, which is increasing its local footprint by 50 percent, in the lease negotiations. Marijke Lantz Flowers internally represented the landlord, Billingsley Co.

February 14, 2023

Leasing Activity Restaurant Retail Texas

Poag Development Welcomes Four New Tenants to Metro Houston Shopping Center

by Taylor Williams February 14, 2023

KATY, TEXAS — Poag Development Group has welcomed four new tenants to LaCenterra at Cinco Ranch, a shopping center located in the western Houston suburb of Katy. Restaurants The Crack Shack and Nando’s will lease 4,065 and 2,754 square feet, respectively. One Medical, a primary care practice, will occupy 3,843 square feet, and eyewear brand Warby Parker has committed to 2,364 square feet The openings are slated for the summer.

February 14, 2023

Share of Markets with Rising Apartment Cap Rates_460

Arbor Realty Trust Build-to-Rent Content Partner Development Features Leasing Activity Midwest Multifamily Northeast Single-Family Rental Southeast Texas Western

Arbor Report Finds Rental Housing Insulated from Economic Contraction, Risk Factors Endure

by Sarah Daniels February 14, 2023

— By Ivan Kaufman, founder, chairman and CEO of Arbor Realty Trust, Inc.; and Sam Chandan, a professor of finance and director of the Chen Institute for Global Real Estate Finance at the NYU Stern School of Business Rental housing is uniquely positioned to withstand tremendous economic headwinds. Although some observers point to the slowdown in apartment rent growth as a sign of growing weakness, this trend is a cyclical feature that is not reflective of any structural change in the profile of demand or supply. It is normal to expect a period of slowing rent growth while there is uncertainty in the economic outlook. In-depth findings on these trends, plus a thorough economic outlook for 2023 and a complete breakdown of risk factors, are detailed in Arbor Realty Trust Special Report Spring 2023: Navigating a Corrective Environment, from which this article is excerpted. While no asset class is immune from the challenges of higher interest rates, the presence of amortization, which spreads out a loan into a series of fixed payments over time, makes the multifamily sector less likely to see mounting distress. All Department of Housing and Urban Development (HUD)-conforming multifamily loans are fully amortizing. Moreover, Fannie …

February 14, 2023

Industrial Leasing Activity Texas

BlueTriton Brands Signs 603,328 SF Industrial Lease in Lancaster, Texas

by Taylor Williams February 13, 2023

LANCASTER, TEXAS — BlueTriton Brands Inc., a Connecticut-based beverage provider, has signed a 603,328-square-foot, full-building industrial lease at 2900 West Drive in Lancaster, a southern suburb of Dallas. According to LoopNet Inc., the property was built on 41.6 acres in 2021 and features 40-foot clear heights. Canon Shoults, John Gorman and Mitch Cantwell of Holt Lunsford Commercial represented the landlord, Boston-based AEW Capital Management, in the lease negotiations. Caleb McCoy of JLL represented the tenant.

February 13, 2023

California Leasing Activity Multifamily Seniors Housing Western

Sherman & Roylance Arranges Two Leases for Skilled Nursing Facilities in Los Angeles

by Jeff Shaw February 13, 2023

LOS ANGELES — Sherman & Roylance has arranged new leases for two skilled nursing facilities totaling over 150 licensed beds in downtown Los Angeles. Sherman & Roylance sourced a selection of competitive offers and recommended the new tenant.

February 13, 2023

Illinois Leasing Activity Midwest Office

Network Services Co. Signs 40,000 SF Office Lease at Schaumburg Towers in Suburban Chicago

by Kristin Harlow February 10, 2023

SCHAUMBURG, ILL. — Distribution company Network Services Co. has signed a 40,000-square-foot office lease at Schaumburg Towers in the Chicago suburb of Schaumburg. The two-building, 882,000-square-foot office property is now 78 percent leased. Since 2017, American Landmark Properties has invested more than $20 million to renovate the asset. Steve Kling and David Florent of Colliers represented the landlord in the lease. James Otto and Hank Cox of CBRE represented the tenant.

February 10, 2023

Indiana Leasing Activity Midwest Restaurant Retail

Tinker Coffee to Open at 360 Market Square in Downtown Indianapolis

by Kristin Harlow February 10, 2023

INDIANAPOLIS — Tinker Coffee Co. is opening a new location at 360 Market Square in downtown Indianapolis this spring. The 360 Market Square location will be Tinker’s fourth café, but its first standalone offering that is not in the airport or a food hall. Tinker currently maintains two locations in the Indianapolis International Airport and one in the AMP food hall, an artisan marketplace and food hall located in the 16 Tech Innovation District in downtown Indianapolis. The downtown café will be open seven days a week. Flaherty & Collins is the owner and developer behind 360 Market Square, an apartment building with an attached Whole Foods Market.

February 10, 2023

Industrial Leasing Activity Texas

Lightning Inc. Renews 61,920 SF Industrial Lease in East Houston

by Taylor Williams February 10, 2023

HOUSTON — Electrical distribution firm Lightning Inc. has signed a 61,920-square-foot industrial lease renewal in East Houston. According to LoopNet Inc., the building at 2425 Broad St. was built in 1957 and totals 166,440 square feet. Michael Keegan and Andrew Laycock of Partners represented the landlord, an entity doing business as SL5 Urban Industrial GP LLC, in the lease negotiations. Grant Hortenstine and Drew Morris of Savills represented the tenant.

February 10, 2023

Leasing Activity New York Northeast Office

Kyndryl Inc. Signs 26,212 SF Office Lease in Rye Brook, New York

by Taylor Williams February 10, 2023

RYE BROOK, N.Y. — Kyndryl Inc., a provider of IT infrastructure services, has signed a five-year, 26,212-square-foot office lease at 2 International Drive in Rye Brook, located north of Manhattan in Westchester County. The tenant, which was formerly part of IBM, has moved in to its space on the second floor. Patrick Murphy, Winston Schromm and Kevin McCarthy of Cushman & Wakefield represented Kyndryl Inc. in the lease negotiations. Peter Duncan and Dana Pike internally represented the landlord, George Comfort & Sons.

February 10, 2023

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