DALLAS — Creative marketing agency Lerma has signed a 27,959-square-foot office lease expansion at The Luminary in Dallas. The tenant is doubling its space with an additional floor at the 169,000-square-foot building, which is located in the West End area. Dan Harris and Nate Hruby of Stream Realty Partners represented Lerma in the lease negotiations. Harwood International recently purchased the building, which offers a rooftop terrace, bike racks and daily food service.
ATLANTA — FanDuel, a sports-tech entertainment firm known for its fantasy sports leagues, has opened its new offices at Ponce City Market, a mixed-use development in Atlanta’s Old Fourth Ward district. The company’s 68,000-square-foot space occupies the third floor and houses its software engineering, product development, user experience and user interface teams. The new office space features a mock sportsbook that tests FanDuel’s latest retail products; desk pods that support focused sprints and quick collaborations; and virtual scrum areas that allow digital whiteboarding concurrently across office locations. The heart of the office, the café and gaming zone, features a 12-foot video wall and a rotating selection of beer taps with beers made in Georgia that are selected by employees. FanDuel plans to grow its Atlanta-based workforce to approximately 900 colleagues over the next five years across 22 types of work settings. The company signed the lease last summer with Jamestown, the Atlanta-based owner of Ponce City Market.
NEW YORK CITY — Adidas has signed a 30,639-square-foot retail lease renewal at its flagship store at 610 Broadway in Manhattan’s SoHo neighborhood. The sportswear giant has committed to the three-story space for an additional 10 years. The six-story building was originally built in 2004 and predominantly houses office space. JLL represented the landlord, LaSalle Investment Management, in the lease negotiations. Adidas was represented internally.
Affordable HousingContent PartnerDevelopmentFeaturesLeasing ActivityMidwestMultifamilyNortheastSoutheastTexasWalker & DunlopWestern
Walker & Dunlop: Affordable Housing Crisis Calls For New Solutions, Effective Programs
By John Ducey, chief production officer of Walker & Dunlop’s affordable lending group Private industry and the federal government are rallying to recover ground lost to a housing affordability crisis that has been decades in the making. Nearly half of the nation’s renters, 46 percent, are housing cost-burdened, which the Census Bureau defines as those families paying 30 percent or more of their income on rent and utilities. The burden is higher for some, with nearly one in four families (23 percent of Americans) paying half or more of their income for housing. The situation calls for a change in tactics, a recognition of recent policy failures and a shared commitment to double down on programs with proven efficacy. As a nation we must ask, what can we do differently to put more homes within reach for the growing ranks of Americans who struggle to meet basic housing costs? A Building Problem The gap between housing costs and strained household budgets has widened due to both insufficient supply and wage stagnation that has fueled demand for affordable housing. The larger of the two issues — a lack of supply — traces chiefly to the 2008 financial crisis, which put a …
GLEN ALLEN, VA. — Genworth Financial Inc., a publicly traded personal finance firm based in Richmond, has leased approximately 175,000 square feet of office space at SunTrust Business Center, an office campus located at 1011-11013 W. Broad St. in the Richmond suburb of Glen Allen. The firm is subleasing the space from Truist Bank and also signed a direct lease with the landlord, FD Stonewater, that commences at the end of the sublease term. Dean Meyer and Mac Wilson of Cushman & Wakefield|Thalhimer, as well as Jamie Smith of Cushman & Wakefield’s Baltimore office, represented Genworth Financial in the lease negotiations. Paul Silver, Brian Berkey and Karla Knight of Thalhimer, as well as Hap Royster and William Woltz of Cushman & Wakefield’s Winston-Salem office, represented Truist Bank. Amy Broderick and Jeffrey Cooke of Thalhimer represented FD Stonewater. SunTrust Business Center will be the new corporate headquarters for Genworth Financial. Other tenants at the campus include EAB, Wipro, Magellan and Home Care Delivered.
LEWISVILLE, TEXAS — Lee & Associates has negotiated a 46,628-square-foot industrial lease in the northern Dallas suburb of Lewisville. The newly constructed building is located at 550 Jubilee Lane. Adam Graham and Corbin Blount of Lee & Associates represented the landlord, Boston-based TA Realty, in the lease negotiations. The representative of the tenant, Redi Carpet, was not disclosed.
DALLAS — Locally based investment management firm Revere Capital has signed an 8,000-square-foot office lease at Premier Place, a 457,901-square-foot building located at 5910 N. Central Expressway in Dallas. The transit-oriented building houses a 62,000-square-foot Life Time fitness center, outdoor amenity space and a conference center. CBRE represented Revere Capital in the lease negotiations. Glenstar Properties owns Premier Place.
NEW YORK CITY —Accounting firm Anchin, Block & Anchin has signed a 45,673-square-foot office headquarters lease at 3 Times Square in Midtown Manhattan. The 30-story building, which was originally constructed in 2001 as the headquarters for Reuters, is currently undergoing a multimillion-dollar renovation. Michael Cohen, Andrew Roos, Jessica Verdi and Mac Roos of Colliers represented Anchin, which plans to relocate from 1375 Broadway next fall, in the lease negotiations. John Cefaly, Lou D’Avanzo, Ron Lo Russo, Heather Thomas and Paige Engeldrum of Cushman & Wakefield, along with internal agent Tom Keating, represented the landlord, Rudin.
LENEXA, KAN. — Vytelle is relocating its headquarters from Oregon to The District at Lenexa City Center in Kansas. Lenexa is about 15 southwest of Kansas City. The livestock company helps cattle producers optimize their herds worldwide. Vytelle chose Kansas for its new headquarters due to the central location within the United States and proximity to a large and growing community of animal health and agriculture technology companies in the region. Vytelle will occupy 2,477 square feet on the second floor of the Penn II building at 8789 Penrose Lane. Ellen Fisher of AREA Real Estate Advisors represented the tenant. Ryan Biery of Copaken Brooks represented the landlord on an internal basis. When fully developed, Lenexa City Center will consist of more than 2 million square feet, including civic components for the City of Lenexa, nearly 1 million square feet of office and retail space, and 375 apartment units.
ELLABELL, GA. — CRG has signed a subsidiary of Rooms To Go to a full-building lease at The Cubes at Interstate Centre II, CRG’s 300-acre development within the broader Interstate Centre industrial park in metro Savannah’s Bryan County. The Orlando- based furniture retailer will fully occupy the 465,250-square-foot Building E, which CRG completed on a speculative basis in October. Jason Ovadia of JLL represented Rooms To Go in the transaction, while Chris Tomasulo, Ryan Hoyt and Bennett Rudder, also with JLL, represented CRG. Located at 1393 Interstate Blvd. in Ellabell, the warehouse is situated 30 miles west of the Port of Savannah and within two miles of I-16. Building E features 36-foot clear heights, 80 dock doors, four drive-in doors, an ESFR sprinkler system and ample parking for vehicles and trailers. CRG’s parent company, Clayco, served as the builder for the project, and Clayco subsidiary Lamar Johnson Collaborative was the architect. The project was developed through CRG’s GP Fund I, which participated as the general partner. Inclenberg Investments was CRG’s limited partner.