SILVER SPRING, MD. — GBT Realty Corp. has added DSW Designer Shoe Warehouse to Ellsworth Place, a 350,000-square-foot retail and entertainment center in Silver Spring, a Maryland suburb of Washington, D.C. The Brentwood, Tenn.-based developer and owner acquired Ellsworth Place in 2018. The discount shoe retailer signed the lease last month with plans to renovate the former Guitar Center storefront. Construction on the property is currently underway with DSW expected to open in March. Located on level four of Ellsworth Place, DSW will be in a 17,500-square-foot store. The tenant’s new location is convenient to Town Center Garage via the pedestrian bridge. DSW joins tenants at Ellsworth Place including Burlington, Ross Dress for Less, Marshalls, Michaels, T.J. Maxx and Dave & Buster’s.
SPRING, TEXAS — NAI Partners has negotiated a 43,230-square-foot office lease at Wildwood Corporate Centre I in the northern Houston suburb of Spring. Jon Silberman and Pierce Beyer of NAI Partners represented the tenant, locally based engineering and construction firm Strike Construction LLC, in the lease negotiations. Steve Rocher and Jason Presley of CBRE represented the undisclosed landlord.
NEW YORK CITY — CBRE has negotiated a 16,624-square-foot office lease at 444 Madison Avenue in Midtown Manhattan. The tenant will occupy the entire 14th floor of the 42-story building, which was recently renovated. Paul Amrich, Meghan Allen, James Ackerson and Max Tarter of CBRE represented the landlord, Westbrook Partners, in the lease negotiations. Amrich also represented the tenant, EOS Investors LLC.
NEW YORK CITY — Reidy Contracting Group has signed a 7,723-square-foot office lease at The Banks Building, located at 58 W. 40th St. in Manhattan. Michael Nazarian and Matt Kashani of Norman Bobrow & Co. represented the tenant, which is expanding and relocating from a 4,000-square-foot space at 120 West 31st Street, in the lease negotiations. Laura Belt Ponomarev represented the landlord, an entity doing business as 58-64 40th St. Corp., on an internal basis.
The famed stability of healthcare and medical office building (MOB) real estate continues in 2022, with the Midwest acting as a microcosm for the sector’s trends and challenges nationwide. Adapting to complement large healthcare system needs, adding urgent care centers and keeping costs low are some of the main concerns for brokers this space. Five healthcare/MOB brokers sat down with REBusinessOnline to discuss what is influencing the sector. Michael Kalil, chief operating officer and director of brokerage, and Jeff Cavazos, senior vice president, NAI Farbman, Southfield, Mich.; Matthew Gregory, senior VP office brokerage, and Michael Simpson, president, NAI Ohio Equities, Columbus, Ohio; and Doug Taatjes, partner/associate broker, NAI Wisinski of West Michigan, Grand Rapids, Mich. weighed in on the present and future of healthcare/MOB real estate. REBusiness: What trends are we going to see in healthcare in 2022? What factors might influence further investment in this field? Matt Gregory: Improvements to building infrastructure will be the most significant trend in 2022. There will be a push toward better HVAC filtration, higher cleaning standards and so forth. Mike Simpson: Yes, I think the healthy building initiative is something that’s going to pick up more momentum this year. Doug Taatjes: In our …
GEORGETOWN, TEXAS — CelLink Corp. has signed a 294,297-square-foot industrial lease at Gateway35 Commerce Center, a master-planned park by Titan Development that is located in the northern Austin suburb of Georgetown. The tenant, which manufactures circuits for batteries used in the automotive and energy storage industries, will occupy the entirety of Building 1 upon completion in June. In addition, CelLink plans to hire between 800 and 2,000 employees over the next 10 years and invest about $130 million in the local economy over the next five years.
ELK GROVE VILLAGE, ILL. — Lee & Associates has negotiated two industrial leases totaling 48,070 square feet in Elk Grove Village. In the first transaction, Arrow Trans Corp. inked a 42,070-square-foot lease at 2001 Estes Ave. Brad Simousek and Michael Plumb of Lee represented the tenant, while John D’Orazio and Jonathan Kohn of Colliers represented the owner, Link Logistics Real Estate. In the second transaction, Simousek represented Crown Roll Leaf in its lease of 6,000 square feet at 689 Chase Ave. Dustin Albers, Andrew Maletich and Matt Garland of Cawley Chicago represented the undisclosed owner.
BLOOMINGDALE, ILL. — Burlington has signed a lease to open a 27,726-square-foot store at Stratford Crossing in Bloomingdale, a western suburb of Chicago. Burlington will be the ninth anchor tenant to join the 385,000-square-foot shopping center, which is home to T.J. Maxx, HomeGoods, Mariano’s, PetSmart, Hobby Lobby and Planet Fitness. Joe Parrott, Sean McCourt and Riley McCarron of CBRE represented ownership, an affiliate of Newmark Merrill Cos. Burlington is scheduled to open later this year.
NEW YORK CITY — CBRE has negotiated a 20,293-square-foot office lease at 444 Madison Avenue in Midtown Manhattan. The tenant will occupy the entire 10th floor of the 42-story building, which was recently renovated. Paul Amrich, Meghan Allen, James Ackerson and Max Tarter of CBRE represented the landlord, Westbrook Partners, in the lease negotiations. The representative of the tenant, The Doris Duke Management Foundation, was not disclosed.
NEW YORK CITY — Bold Charter School will open a 10,000-square-foot learning center at 1093 Southern Blvd. in The Bronx. The school, which will open in time for the 2022-2023 academic year, will have eight classrooms and will be able to support about 240 students in grades K-4. Stephen Powers and Lindsay Ornstein of OPEN Impact Real Estate, along with Tom Hines and Casey Noel of Transwestern, represented Bold Charter School in its site selection and lease negotiations. David Israeli and Joseph Israeli represented the landlord, Meyerson Management LLC, on an internal basis.