Leasing Activity

Farmer’s Business Network Signs 43,000 SF Office Lease in Chicago’s Fulton Market

by Kristin Harlow October 19, 2021

CHICAGO — Farmer’s Business Network (FBN) has signed a 43,000-square-foot office lease at 1320 W. Fulton St. in Chicago’s Fulton Market district. The company will take occupancy of the entire third and fourth floors. Originally built in 1916 to house a Chicago Fire station, the building spans 121,000 square feet. Jeff Newcom and Holly Duran of Colliers Chicago represented FBN in the lease. FBN is an ag-tech platform and farmer-to-farmer network with a mission to help reduce the cost of production and maximize value of farmers’ crops.

October 19, 2021

Industrial Leasing Activity Texas

Packaging Firm Signs 97,446 SF Industrial Lease in Metro Dallas

by Taylor Williams October 18, 2021

CARROLLTON, TEXAS — Packaging firm Western Industries Corp. has signed a 97,446-square-foot industrial lease at 1200 W. Crosby Road in the northern Dallas suburb of Carrollton. Andrew Gilbert and Keaton Brice represented the landlord, Holt Lunsford Commercial Investments, in the lease negotiations on an internal basis. Mark Miller with NAI Robert Lynn represented the tenant.

October 18, 2021

Illinois Leasing Activity Midwest Restaurant Retail

Tatas Tacos, Hops & Scotch to Open at The Cooper in Chicago

by Kristin Harlow October 18, 2021

CHICAGO — Tatas Tacos and Hops & Scotch are the first retail tenants announced for The Cooper, a 29-story luxury apartment tower located at 720 S. Wells St. in Chicago’s Printers Row. Tatas Tacos will open its fourth Chicago restaurant, while Hops & Scotch, a new bottle shop concept from the owners behind South Loop Market, will open its first location. Tatas Tacos, which is slated to open in spring 2022, will occupy 5,643 square feet on the northern end of the tower. Hops & Scotch is scheduled to open later this year. The 1,286-square-foot store will offer a selection of beers, wines and spirits. Delivered in 2018, The Cooper is the first phase of Lendlease’s seven-acre Southbank development.

October 18, 2021

Industrial Leasing Activity New Jersey Northeast

HVAC Supplier Signs 50,358 SF Industrial Lease in East Rutherford, New Jersey

by Taylor Williams October 18, 2021

EAST RUTHERFORD, N.J. — Brookaire Co., a supplier of HVAC parts and systems, has signed a 50,358-square-foot industrial lease at 46 Whelan Road in the Northern New Jersey community of East Rutherford. San Francisco-based Terreno Realty Corp. owns the building, which was constructed in 2006 and features a clear height of 30 feet. Kevin Dudley and Nick Klacik of CBRE represented the tenant in the lease negotiations.

October 18, 2021

Florida Leasing Activity Office Southeast

JLL Arranges 22,495 SF Office Lease with Global Law Firm in Downtown Miami

by Julia Sanders October 15, 2021

MIAMI — JLL has arranged an office lease for Reed Smith, an international law firm, for 22,495 square feet within Southeast Financial Center in downtown Miami. Barbara Liberatore Black and Jeff Gordon of JLL represented Reed Smith in the lease negotiations. Eric Groffman and Cameron Tallon, also with JLL, represented the landlord, Ponte Gadea Biscayne. Reed Smith, which is moving from Miami’s Brickell district, will be located on the 26th floor of Southeast Financial Center. The law firm first came to Miami in 2017 and now has 30 offices worldwide. The firm’s Miami office is home to lawyers whose practices focus on commercial disputes, entertainment and media, finance, insurance recovery and international arbitration. Situated in Miami’s central business district (CBD), Southeast Financial Center spans 1.2 million square feet and 55 stories, making it the city’s largest office tower, according to JLL. The office tower features a 30,000-square-foot outdoor plaza and café and dining options. The tower is situated less than a mile from Interstate 95.

October 15, 2021

Features Leasing Activity Market Reports Southeast Feature Archive

NAIOP: Commercial Real Estate Industry Sentiment Up to 56 in September, Near Pre-Pandemic Level

by Julia Sanders October 14, 2021

WASHINGTON, D.C. — Commercial real estate professionals indicate conditions in the industry have returned to approximately where they were before the onset of the COVID-19 pandemic, according to The National Association of Industrial and Office Parks (NAIOP) Fall 2021 Commercial Real Estate Sentiment Index. The index for September 2021 came in at 56 out of 100, up slightly from 54 in April 2021 and identical to March 2019, a year before the pandemic began. At the pandemic’s worst point — March through September 2020 — the index sank to 45. The NAIOP Sentiment Index was created to predict general conditions in the commercial real estate industry over the following 12 months by asking industry professionals to predict conditions for their own projects and markets. The Fall 2021 report surveyed a total of 357 respondents from 263 distinct companies from Sept. 7 to 14. The index asks respondents questions about jobs, space markets, construction costs, capital markets and other conditions for real estate development. A sentiment index below 50 means many believe there will be unfavorable commercial real estate conditions over the next 12 months; 50 means little to no change in commercial real estate conditions are expected; and greater than …

October 14, 2021

Leasing Activity Office Southeast Virginia

Software Firm Signs 49,257 SF Office Lease at 3TWENTY3 in Charlottesville, Virginia

by Julia Sanders October 13, 2021

CHARLOTTESVILLE, VA. — General Atomics Commonwealth Computer Research Inc., a locally based advanced analytics and software solutions firm, has signed a 49,257-square-foot office lease within the 3TWENTY3 building in Charlottesville. Totaling 120,000 square feet, 3TWENTY3 is a five-floor office building that was built on top of a four-story, 200-space parking structure. Building amenities include a pedestrian plaza/walkway, common lobby gathering space, LEVEL10 rooftop area with event and conference space, catering kitchen, patio, electric car charging stations and covered bike racks. Located at 323 2nd St. SE, the property will be located near downtown Charlottesville and is about 1 mile from the University of Virginia. Built in late 2020, the property is about 80 percent leased out to tenants including McGuireWoods, Williams Mullen and Manchester Capital. John Pritzlaff of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord and developer, Charlotte-based Insite Properties. Robin Amato of REIII Commercial Properties represented the tenant.

October 13, 2021

Leasing Activity Midwest Office Ohio

Upstart Signs 240,000 SF Office Sublease in Columbus, Ohio

by Kristin Harlow October 13, 2021

COLUMBUS, OHIO — Artificial intelligence lending platform Upstart has signed a sublease for 240,000 square feet of Class A office space at 3075 Loyalty Circle in the Easton neighborhood of Columbus. The lease is in addition to a recent 54,000-square-foot expansion by Upstart at 711 N. High St. in the Short North neighborhood of Columbus. Through its expansion, Upstart plans to create an additional 500 jobs. The new spaces feature a combination of open offices, breakout rooms and collaboration areas. Upstart’s Short North office opened in early September and its Easton office is slated for completion in January. Clayton Davis and Jeff Carey of JLL represented Upstart.

October 13, 2021

Leasing Activity New York Northeast Office

Accounting Firm Signs 145,000 SF Office Lease at 200 Park Avenue in Manhattan

by Taylor Williams October 13, 2021

NEW YORK CITY — Accounting and advisory firm BDO USA has signed a 15-year, 145,000-square-foot office lease at 200 Park Avenue, a 58-story tower in Midtown Manhattan. In January 2024, the tenant will consolidate its three Manhattan offices to three entire floors, as well as a dedicated portion of the lobby of the 3.1 million-square-foot building. Mitti Liebersohn, Mark Robbins, Keith Caggiano, Jeff Lindenmeyer and Jeff Burger of Avison Young represented BDO USA in the lease negotiations. Gus Field and Megan Sheehan represented the landlord, Tishman Speyer, which owns the building in partnership with Irvine Co. Office Properties, on an internal basis.

October 13, 2021

Illinois Leasing Activity Midwest Restaurant Retail

Kindling, Foxtrot to Open at Willis Tower’s Catalog in Chicago

by Kristin Harlow October 12, 2021

CHICAGO — Chicago’s Fifty/50 Group will debut the first full-service restaurant at Willis Tower in downtown Chicago. Known as Kindling, the char-house restaurant will occupy a two-story space and outdoor terrace as part of Catalog, the five-story dining, retail and entertainment portion of Willis Tower. Kindling is slated to open in 2022. The restaurant will feature a large wood-burning grill and guests will enjoy entrees such as rotisserie chicken, brisket and halibut. Also joining Catalog in spring 2022 is the Chicago-based corner store, café and delivery market Foxtrot. The Catalog location will feature a coffee bar plus a selection of everyday essentials, locally sourced goods and grab-and-go offerings. Users of the Foxtrot app can order items for pickup or delivery. EQ Office owns Willis Tower, which is undergoing a $500 million renovation project. The Fifty/50 Group is a hospitality group that owns and operates 14 restaurants and bars across Chicago.

October 12, 2021

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