FORT WORTH, TEXAS — Lee & Associates has negotiated a 20,000-square-foot industrial lease renewal in Fort Worth. The building at 391-399 N. Beach St. is located northeast of the downtown area. Phillip Rosenfeld of Lee & Associates represented the landlord, Tarrant County Properties, in the lease negotiations. Todd Hubbard of NAI Robert Lynn represented the tenant, National Bolt & Industrial Supply.
ATLANTA — Selig Enterprises has announced that Phase I of the office space at The Works, the developer’s 80-acre mixed-use development on Atlanta’s Upper Westside neighborhood, is now fully leased. New tenants joining the 125,000-square-foot office component include Babbit Bodner (communications and marketing); City of Atlanta (public safety); Google Fiber; Interior Environments (office furniture dealer and interior designer); and Narrative Content Group (advertising, branding and website design). Existing tenants include Uppercut (creative editorial shop); MacDermid Graphic Solutions (a photopolymer plate manufacturer); iHeart Media (radio conglomerate); and Atlanta Eats (local food-driven media company). Atlanta-based Selig Enterprises owns The Works and handles the project’s office leasing internally.
LIBERTY, MO. — Block & Co. Inc. Realtors has completed the lease-up of Crossroads Shopping Center in the Kansas City suburb of Liberty. The most recent lease transactions were with Total Wireless and Frame It. Additional tenants include Savers, Curves, Sugar Kittens Cat Café & Cattery, Palen Music Center, Dollar General, Pizza Hut and Mi Hacienda. Daniel Brocato and Phil Peck of Block & Co. are the leasing agents for the property.
DOYLESTOWN, PA. — Whole Foods Market has opened a 43,617-square-foot store at 1745 S. Easton Road in Doylestown, a northern suburb of Philadelphia. The store features full-service meat and seafood counters, a bakery, prepared foods section and a wellness and beauty section, as well as a selection of more than 750 wines and 280 craft beers. A grand opening celebration was held this morning.
NEW YORK CITY — Avis Budget Group has signed a 21,400-square-foot retail lease in The Bronx. The car rental agency has committed to the property at 4075-4077 Boston Road, which includes a 16,000-square-foot lot, for the next 20 years. Steve Lorenzo and Garry Steinberg of Lee & Associates represented the tenant in the lease negotiations. Ariel Castellanos and Federico Mazzeo from Pinnacle Realty represented the landlord.
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JLL: U.S. Retail Sector Remains Optimistic as Market Conditions Shift
CHICAGO — Retail closures are at a cyclical high, totaling a whopping 9,900 business shutdowns in 2024, according to JLL’s fourth-quarter 2024 retail report entitled “United States Retail Market Dynamics.” For the first time in several years, store closures outpaced store openings in a calendar year. Fabric and crafts retailer JOANN, who filed for Chapter 11 bankruptcy protection twice within a year, is shuttering all 800 stores, while major department store chain Macy’s will close 150 stores over the next three years, with 66 closures anticipated in 2025 alone. The highest number of store closures resulted from discount and dollar stores like Family Dollar, CVS Health and Big Lots, as well as specialty retailers like Party City. Retail closures are represented across different size brackets, with more than 55 percent of announced closures identifying with footprints ranging from 5,000 square feet to 20,000 square feet. Expanding retailers such as Dollar General, O’Reilly Automotive and Five Below align with these vacant boxes, while larger, major closures like Bed Bath & Beyond and Toys “R” Us occupy more “desirable” locations. On the flip side, between 2024 and 2025, there were roughly 7,700 new retail store openings announced. Nearly 3,000 of these openings …
CARROLLTON, TEXAS — Lee & Associates has negotiated a 20,538-square-foot industrial lease in the northern Dallas metro of Carrollton. According to LoopNet Inc., the building at 2853 Dickerson Parkway was constructed in 1995 and totals 41,354 square feet. Johnny Anderson of Lee & Associates represented the landlord, Stonelake Capital Partners, in the lease negotiations. The tenant is American Leak Detection.
WESTLAKE, OHIO — New tenants are opening and existing tenants are expanding at Crocker Park lifestyle center in Westlake, a western suburb of Cleveland. New tenants include Color Me Mine, Garage, Océanne, State & Liberty, Ten Seconds Yunnan Rice Noodle, Tradehome Shoes and Vera Bradley. Arhaus and Lucky Shoes are relocating to larger spaces. Additionally, CPL Architecture, Engineering & Planning will soon open an office, and Palmer Holland is expanding its footprint, now occupying a ground-floor space in addition to its third-floor office space. Crocker Park features more than 4.5 million square feet with over 130 local and national retailers and dining options as well as office buildings, luxury apartments and an event venue. Cleveland-based Stark Enterprises is the owner.
CHARLOTTE, N.C. — Foundry Commercial has facilitated a 31,392-square-foot office lease at The Edison, a new 125,000-square-foot office building located in Charlotte’s Airport submarket. The tenant, the National Board of Examiners in Optometry (NBEO), plans to move into its new headquarters space this summer. Meredith Ball, Karah Tanneberger and Eliza Gordon of Foundry represented the unnamed landlord in the lease negotiations. Brian Brtalik and Mike Dempsey, also with Foundry, represented NBEO. The new lease brings The Edison to 75 percent occupancy. Amenities at the office building include a high-end fitness facility, outdoor space with a food truck program and ample onsite parking.
NEW YORK CITY — Accrete has signed a 13,757-square-foot office lease expansion in Lower Manhattan. The software company is effectively doubling its footprint at 17 State Street, a 42-story building, from its 2021 commitment of 6,681 square feet via a three-year extension. Matthew DeRose of Nomad Group represented the tenant in the lease negotiations. A.J. Camhi and Ryan Silverman internally represented the landlord, RFR.