Leasing Activity

Peli BioThermal Inks 138,328 SF Industrial Lease Expansion in Metro Indianapolis

by Kristin Harlow June 13, 2022

PLAINFIELD, IND. — Peli BioThermal has signed a new industrial lease for 138,328 square feet in the Indianapolis suburb of Plainfield. The company, which provides temperature-controlled packaging solutions for the life sciences industry, is more than doubling its space at HSA Commercial’s Gateway Business Park. Peli BioThermal’s current lease totals 50,000 square feet at Gateway Industrial II. The tenant will move to the recently completed Gateway Industrial VI upon expiration of its current lease by the end of the year. Peli BioThermal will build out office space and slowly transfer operations to the new facility. Jared Scaringe of CBRE represented the tenant, while Terry Busch of CBRE represented ownership. To date, HSA has completed seven buildings totaling roughly 1.2 million square feet at Gateway Business Park.

June 13, 2022

Leasing Activity Midwest Office Ohio

Quest Defense Signs 25,702 SF Office Lease for New Headquarters in Blue Ash, Ohio

by Kristin Harlow June 13, 2022

BLUE ASH, OHIO — Aerospace and defense company Quest Defense has signed a 25,702-square-foot office lease for its new headquarters at Pfeiffer Place at Parkview in Blue Ash near Cincinnati. The company is relocating from its Class B space at SharonView Corporate Center. Pfeiffer Place offers a conference center, café and onsite security. Todd Pease of JLL represented the landlord, Ohio National Financial Services.

June 13, 2022

Illinois Leasing Activity Midwest Office

Echo Global Logistics, VSA Partners Renew Leases at Office Property in Chicago’s River West

by Kristin Harlow June 10, 2022

CHICAGO — Echo Global Logistics and VSA Partners have renewed their office leases at 600 West Chicago, an office and retail property owned by Sterling Bay in Chicago’s River West submarket. Echo, a provider of technology-enabled transportation and supply chain management services, will remain in its 185,000-square-foot space that it has called home since its inception in 2005. VSA, a global creative agency and tenant in the building since 2008, restructured its lease to 25,000 square feet. Andrea VanGelder, Kellen Monti, Matt Carolan and Paul Giannopoulos of JLL represented Echo, while Steven Livaditis and Jon Milonas of CBRE represented VSA. Russ Cora and Austin Lusson represented Sterling Bay on an internal basis.

June 10, 2022

Leasing Activity Office Texas

Elevate Credit Services Signs 73,984 SF Office Lease Renewal in Fort Worth

by Taylor Williams June 10, 2022

FORT WORTH, TEXAS — Elevate Credit Services has signed a 73,984-square-foot office lease renewal at Overton Centre, a 417,465-square-foot development in southwest Fort Worth. The two-building complex features a renovated lobby, fitness center and an auditorium/conference center. Cribb Altman and Cannon Camp of JLL, along with Mike Wyatt of Cushman & Wakefield, represented the tenant in the lease negotiations. Matt Carthey and Jake Neal of Holt Lunsford Commercial represented the landlord, an entity doing business as FLDR/TLC Overton Centre LP.

June 10, 2022

Industrial Leasing Activity Texas

CBRE Negotiates 307,000 SF Industrial Lease at Cedar Port Industrial Park in Metro Houston

by Taylor Williams June 9, 2022

BAYTOWN, TEXAS — CBRE has negotiated a 307,000-square-foot industrial lease at Building C at Baytown Intermodal Center, a 1.2 million-square-foot campus located within Cedar Port Industrial Park. The site is located near Port Houston on the southeastern outskirts of Houston. Boomer White and Jim Stark of CBRE represented the landlord, Reich Brothers, a privately investment group with offices in New York and Los Angeles, in the lease negotiations. The representative and name of the third-party logistics company that will be the new tenant were not disclosed.

June 9, 2022

Industrial Leasing Activity Midwest Nebraska

Airlite Plastics, Marianna Industries Lease Former Gordmans Distribution Center in Omaha

by Kristin Harlow June 9, 2022

OMAHA, NEB. — Airlite Plastics Co. Inc. and Marianna Industries Inc. have leased the former Gordmans distribution center located at 9202 F St. in Omaha. Kevin Stratman, Clint Seemann and Ryan Zabrowski of Investors Realty represented the landlord, an entity doing business as G&I IX Specialty Ret LLC. The property was left vacant by Gordmans after its parent company, Stage Stores, filed for bankruptcy. The center underwent a substantial renovation led by Investors Realty’s project management team. Paul LaFave of CBRE represented Marianna, which leased 81,090 square feet. Airlite leased 186,405 square feet and did not have a representative. Omaha-based Airlite sells plastic containers and reusable products. Omaha-based Marianna is a hair care formulator and manufacturer.

June 9, 2022

Jeff Erxleben interest rates built to rent quote

Build-to-Rent Content Partner Features Leasing Activity Midwest Multifamily Northeast Northmarq Single-Family Rental Southeast Texas Western

Build-to-Rent (BTR) Property Type Offers Positive Demand Outlook

by Sarah Daniels June 9, 2022

By Jeff Erxleben, president, debt & equity at Northmarq Liquidity and an incredibly positive outlook for single-family build-to-rent (BTR) properties is helping to offset some of the turbulence developers are experiencing from rising interest rates. Developers have been ramping up the pace of single-family BTR construction over the past five years with forecasts that call for a record high 60,000 new units to be completed in 2022. That volume shows a steady increase over the 53,000 units completed in 2021 and 49,000 in 2020, according to Northmarq’s recently released Single-Family Build-to-Rent Properties Special Report. Although financing across all property types has been impacted by upward movement in both short- and long-term borrowing rates, the BTR sector is in a good position to shake off those challenges and maintain its growth momentum. Higher construction and financing costs are being offset by rising rents with year-over-year rent increases, that in many areas of the country, are quite substantial. Developers also are finding good access to both debt and equity. The number of lenders that are active in the space is expanding as developers move into new markets and continue to prove out business models and performance with successful lease-up and dispositions. For …

June 9, 2022

Industrial Leasing Activity Texas

Baik Brands Signs 104,000 SF Industrial Lease in Dallas

by Taylor Williams June 8, 2022

DALLAS — Baik Brands, a cosmetics firm that is the parent company of several e-commerce brands, has signed a 104,000-square-foot industrial lease in the Stemmons Crossroads area of Dallas. Jeremy Mercer of Mercer Co. and John Roper of CBRE represented Baik Brands in the lease negotiations. Robert Adams represented the landlord, Rosebriar Properties, on an internal basis.

June 8, 2022

Leasing Activity New York Northeast Office

PNC Bank Signs 70,000 SF Office Lease Renewal at 340 Madison Avenue in Manhattan

by Taylor Williams June 8, 2022

NEW YORK CITY — PNC Bank has signed a 70,000-square-foot office lease renewal at 340 Madison Avenue in Manhattan. The lease comprises 64,941 square feet of office space across several floors and a 5,336-square-foot retail branch. William Elder, Andrew Ackerman and Alexandra Budd represented the landlord, RXR Realty, on an internal basis. David Simson and David Falk of Newmark represented the tenant. PNC Bank has been a tenant at the building since 2008.

June 8, 2022

Leasing Activity Midwest Ohio Restaurant Retail

Huey Magoo’s Opens 2,500 SF Restaurant in Englewood, Ohio

by Kristin Harlow June 8, 2022

ENGLEWOOD, OHIO — Huey Magoo’s has opened its first restaurant in the state of Ohio in Englewood, a northern suburb of Dayton. The 2,500-square-foot building, located at 9196 N. Main St., is the 27th restaurant nationwide for the chicken tenders brand. The Englewood restaurant will offer dine-in, take out, curbside pickup and delivery through third-party services Uber Eats and DoorDash. Huey Magoo’s franchisees Tim and Ronda Hobart will operate the restaurant.

June 8, 2022

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