Leasing Activity

PBR x Lockhart Smokehouse to Open at Bridge Street Town Centre in Huntsville

by Julia Sanders February 24, 2022

HUNTSVILLE, ALA. — PBR x Lockhart Smokehouse is opening this year at Bridge Street Town Center, a mixed-use development in Huntsville. The dining concept is a partnership between the Professional Bull Riders (PBR) Cowboy Bar, Lockhart Smokehouse and Live! Concepts. Bayer Properties is the developer for the Bridge Street Town Center. PBR Cowboy Bar’s Country-Western experience will be joined with Lockhart Smokehouse’s Texas barbecue in the dining concept. The location at Bridge Street Town Center will be Lockhart Smokehouse’s first location outside of Texas. PBR x Lockhart Smokehouse will take up 8,121 square feet of space. Bridge Street Town Centre features over 50 tenants including Apple, Athleta, H&M and Sephora. The development recently added The Cheesecake Factory and soon will open Main Event. The property is also home to more than 207,000 square feet of Class A office space that is fully leased, as well as a 232-room Westin hotel, 150-room Element by Westin hotel, 244-unit Seleno apartment complex and a 131-room Hyatt Place Hotel.

February 24, 2022

Connecticut Leasing Activity Northeast Office

Colliers Secures 11,500 SF Office Lease in Stamford, Connecticut

by Taylor Williams February 24, 2022

STAMFORD, CONN. — Colliers has secured an 11,500-square-foot office lease at 1 Landmark Square in Stamford, located in the southern coastal part of the state. Jeffrey Williams and Hollis Pugh of Colliers represented the tenant, law firm Silver Golub & Teitell LLP, which will occupy the 15th floor of the 299,000-square-foot building, in the lease negotiations. Larry Kwiat of Reckson Associates Realty represented the landlord, SL Green.

February 24, 2022

Pete ONeil SFR BTR quote "The rapid acceleration of investment in the SFR/BTR space is expected to continue into 2022 and beyond. Not only is the product type attractive to renters and investors, but the projects that are being delivered are coming online in some of the highest-demand regions in the country."

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

Single-Family/Build-to-Rent: Changing Renter Demographics Fuel Growth

by Sarah Daniels February 24, 2022

Demand for all forms of housing has been on the rise in recent years, a trend that is expected to continue in 2022. One segment of the market that is attracting significant attention is single-family/build-to-rent (SFR/BTR), as a series of economic and demographic shifts increase the attractiveness of an alternative to traditional apartments. Developers are ramping up activity on thousands of new units, particularly in the high-growth southern U.S. markets. Dozens of projects totaling more than $1.5 billion sold in 2021. Meanwhile, billions of dollars of debt and equity capital continue to move into this increasingly attractive investment class. Northmarq’s National Multifamily 2022 Outlook covers the record-setting momentum that multifamily properties across the United States saw last year and projects what the market may see in 2022. Northmarq’s full report is available here (with further rundowns on factors like the overall economy, rent trends, the investment market and financing climate). Their analysis on the SFR/BTR market below breaks down the trends and opportunities for growth in this burgeoning sector. Reasons for Growth Several factors are prompting the development of SFR/BTR. A primary influence is the changing mix of renters; today’s renters are generally older and more affluent than in the past. These …

February 24, 2022

Industrial Leasing Activity Michigan Midwest

LM Manufacturing Signs 296,000 SF Industrial Lease in Detroit

by Kristin Harlow February 23, 2022

DETROIT — LM Manufacturing, a joint venture between automotive suppliers Magna and LAN Manufacturing, has leased 296,000 square feet of manufacturing space in Detroit’s Delray neighborhood. The tenant is leasing space within the former Sakthi Industrial Campus, which Bedrock acquired in September 2020. The campus includes roughly 529,000 square feet of industrial space, 89,000 square feet of office space and 10 acres of developable land. LM Manufacturing’s lease will commence in May.

February 23, 2022

Industrial Leasing Activity Oklahoma Texas

Kroger to Open 50,000 SF ‘Spoke’ Distribution Center in Oklahoma City

by Taylor Williams February 23, 2022

OKLAHOMA CITY — Kroger (NYSE: KR) will open a 50,000-square-foot distribution center at 8801 N. Interstate 35 Service Road in Oklahoma City. The cross-dock facility, which is expected to come on line later this year and to employ up to 191 full-time associates, will serve as a last-mile, or “spoke,” distribution point for customers within a 200-mile radius. This territory includes Dallas, where Kroger and its partner in rolling out spoke facilities, United Kingdom-based logistics firm Ocado Group, have also launched a 350,000-square-foot fulfillment center.

February 23, 2022

Leasing Activity NAI Retail Texas

NAI Partners Negotiates 9,000 SF Retail Lease in Houston

by Taylor Williams February 23, 2022

HOUSTON — NAI Partners has negotiated a 9,000-square-foot retail lease at Greenwood Place, an 18,000-square-foot, newly constructed commercial building located near the intersection of State Highway 105 and FM 3083 in Houston. Jason Gaines of NAI Partners represented the landlord, an entity doing business as Greenwood Place LLC, in the lease negotiations. Elena Bakina of Colliers represented the tenant, Action Behavior Center LLC, a provider of mental health services.

February 23, 2022

Industrial Leasing Activity Massachusetts Northeast

Colliers Negotiates 81,293 SF Industrial Sublease in Franklin, Massachusetts

by Taylor Williams February 23, 2022

FRANKLIN, MASS. — Colliers has negotiated an 81,293-square-foot industrial sublease in Franklin, located southeast of Boston in Norfolk County. Stephen Woelfel, Kevin Brawley, P.J. Foster, John Real and Glenne Bachman of Colliers represented the original tenant, medical device manufacturer Tegra Medical, in the lease negotiations. Tim Lahey, Perry Beal and John Lashar of CBRE represented the sublessee, biopharmaceutical company Lyndra Therapeutics.

February 23, 2022

Leasing Activity New Jersey Northeast Restaurant Retail

PREIT Announces New Tenants at Cherry Hill Mall in Metro Philadelphia

by Taylor Williams February 23, 2022

CHERRY HILL, N.J. — Pennsylvania Real Estate Investment Trust (PREIT) has announced a slate of new retailers and restaurants at Cherry Hill Mall, located outside of Philadelphia in Southern New Jersey. Upscale seafood concept Eddie V’s will open its first restaurant in the area this fall, while Marc Cain, a women’s apparel brand based in Germany, will join the lineup of soft goods retailers with a March opening. Other upcoming additions to the tenant roster include Warby Parker and Amazon 4-Star.

February 23, 2022

Leasing Activity New York Northeast Office

Newmark Negotiates 26,000 SF Office Lease in Manhattan’s SoHo District

by Taylor Williams February 22, 2022

NEW YORK CITY — Newmark has negotiated a 26,000-square-foot office lease at The Devlin Building, located at 459 Broadway in Manhattan’s SoHo District. Howard Kesseler and Alexander Kesseler of Newmark represented the landlord, The Chetrit Organization, in the lease negotiations. Sinvin Commercial Real Estate represented the tenant, F. Schumacher & Co., a designer of luxury textile products.

February 22, 2022

Leasing Activity New York Northeast Office

Spectorgroup Signs 15,000 SF Office Lease in Midtown Manhattan

by Taylor Williams February 21, 2022

NEW YORK CITY — Commercial design firm Spectorgroup has signed a 15,000-square-foot office lease at 200 Madison Avenue in Midtown Manhattan. The tenant will relocate from its current headquarters at 183 Madison Avenue to the 19th floor of the 750,000-square-foot building in the third quarter. Andrew Conrad and Matt Coudert internally represented the landlord, George Comfort & Sons, which owns the building in partnership with Jamestown and Loeb Realty Partners, in the lease negotiations. Ben Shapiro and Andrew Sachs of Newmark, along with Adam Spector of JLL, represented Spectorgroup.

February 21, 2022

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