Leasing Activity

Upper Deck Signs 126,000 SF Industrial Lease at Alexander Commerce Park in Durham

by Julia Sanders July 2, 2021

DURHAM, N.C. — The Upper Deck Co., a Carlsbad, Calif.-based worldwide sports and entertainment company, has signed a lease to occupy a full building totaling 126,000 square feet at Alexander Commerce Park in Durham. Upper Deck will be Alexander Commerce Park’s first tenant. Upper Deck’s lease will serve as the company’s East Coast office. Colton Clifton with BPG Management represented the tenant in the lease transaction. Austin Nagy, Ann-Stewart Patterson and Bryan Everett of CBRE represented the landlord, Trinity Capital. Alexander Commerce Park is a Class A industrial park featuring three buildings totaling 441,000 square feet. The property will be located on TW Alexander Drive in Durham’s Research Triangle Park. The remaining two buildings are 189,280 square feet and 126,000 square feet. Construction is underway with a completion date in the first half of 2022. Designed by DMA Architects, the buildings will feature 32-foot clear heights, ESFR fire protection and three primary entrances along each façade to allow for easy subdivision for multiple tenants. In addition to Alexander Commerce Park, Trinity Capital is currently developing 147 Exchange in Durham and wrapping up development at Eastgate 540, a six-building, 980,000-square-foot industrial park in Raleigh’s East Wake submarket.

July 2, 2021

Somerset-Corporate-Center-V-Bridgewater-New-Jersey

Leasing Activity New Jersey Northeast Office

Qualcomm Signs 95,579 SF Office Lease Extension in Bridgewater, New Jersey

by Taylor Williams July 2, 2021

BRIDGEWATER, N.J. —Qualcomm has signed a 95,579-square-foot office lease extension at Somerset Corporate Center V in Bridgewater, located in the central part of the Garden State. The San Diego-based tech giant has been a tenant at the five-building, 1.2 million-square-foot campus since 2007. New York City-based SJP Properties owns Somerset Corporate Center. The campus includes a 170,000-square-foot athletic facility, a 31,000-square-foot coworking space, a 150-room AC Hotel by Marriott and multiple food and beverage options. Somerset Corporate Center is also located near both Newark International Airport and New York City and offers access to public transportation, including shuttle service to the Somerville train station just two miles from the property.

July 2, 2021

Industrial Leasing Activity Massachusetts Northeast Office

Avison Young Negotiates 40,650 SF Industrial Flex Lease in Metro Boston

by Taylor Williams July 2, 2021

MARLBOROUGH, MASS. — Avison Young has negotiated a 40,650-square-foot lease at an industrial flex property located at 753 Forest St. in Marlborough, a western suburb of Boston. Built in 1986, the 75,000-square-foot property can accommodate office, storage, distribution and technical training uses. Bill Sullivan and Jon Pezzoni of Avison Young represented the tenant, Richardson Electronics, and the landlord, True Associates of Westwood, in the lease negotiations.

July 2, 2021

Illinois Leasing Activity Midwest Office

U.S. Xpress Enterprises Signs 40,000 SF Office Lease in Chicago’s River North

by Kristin Harlow July 2, 2021

CHICAGO — U.S. Xpress Enterprises Inc. (NYSE: USX) has signed a long-term lease for approximately 40,000 square feet of office space encompassing three floors at 306 West Erie in Chicago’s River North. The building, owned by North Wells Capital and Urban Innovations, has now reached full occupancy. Xpress, a truckload carrier that is expanding and relocating its offices from within the same area, is slated to begin occupying the new space in the first quarter of 2022. Xpress Technologies, the company’s digitally enabled freight brokerage division, will occupy the bulk of the new space. The division has more than doubled the size of its workforce nationwide since mid-2020. Part of a three-building collection known as Verso, 306 West Erie recently underwent a renovation and expansion following North Wells’ acquisition of the property in 2017. New amenities include a sixth-floor tenant lounge and gaming area as well as an outdoor terrace. JLL is the leasing agent for the entire Verso portfolio. Melissa Rubenstein, Annie Nicolau and Anna Panici of JLL represented ownership in the lease transaction with Xpress. Dan Persa of CBRE represented the tenant.

July 2, 2021

Illinois Leasing Activity Midwest Retail

Five Iron Golf to Occupy 11,000 SF at Chicago’s Block 37

by Kristin Harlow July 2, 2021

CHICAGO — Five Iron Golf, an indoor golf and entertainment experience, has signed a lease to occupy 11,000 square feet at the shopping, dining and entertainment destination known as Block 37 in Chicago’s Loop. The new location, the company’s second in Chicago, will offer golf simulators, high-speed cameras, a putting green and entertainment offerings such as a full bar, kitchen, widescreen TVs and games. Technology helps capture data, analyze each golf swing and provide real-time feedback for guests. Five Iron Golf operates nine locations across the country.

July 2, 2021

Leasing Activity Office Retail Texas

EVO Entertainment to Open 68,733 SF Venue at Southlake Town Square

by Taylor Williams July 1, 2021

SOUTHLAKE, TEXAS — EVO Entertainment, an Austin-based entertainment concept that combines bowling, movies, games and food and beverages, will open a 68,733-square-foot venue at Southlake Town Square, a 130-acre mixed-use development near Fort Worth. The entertainment center, which is scheduled to open at the end of the year, will be EVO’s first in the Dallas-Fort Worth metroplex. This location will feature a full restaurant and bar with outdoor patio space, seven movie screens, arcade games, bowling lanes, a laser tag arena, rock climbing wall, ropes course and private party rooms. Retail Properties of America, an Illinois-based REIT, owns Southlake Town Square.

July 1, 2021

Leasing Activity New York Northeast Retail

Lego Unveils New ‘Retailtainment’ Store at Rockefeller Center in Manhattan

by Taylor Williams July 1, 2021

NEW YORK CITY — The Lego Group has unveiled its new “retailtainment” concept with the opening of a 7,175-square-foot flagship store within Rockefeller Center in Midtown Manhattan. The Danish toymaker spent two years developing the new retail concept and found that consumers wanted opportunities to play with bricks, participate in brick-inspired activities and personalize their experiences. To that end, the two-level store features a new array of merchandise and experienced-based attractions, including a virtual reality experience, storytelling table and a personalization studio.

July 1, 2021

Leasing Activity New York Northeast Office

Accounting Firm CohnReznick Signs 12,918 SF Office Lease on Long Island

by Taylor Williams June 30, 2021

MELVILLE, N.Y. — Accounting firm CohnReznick LLP has signed a 12,918-square-foot office lease at Melville Square Corporate Center, a 165,310-square-foot building located in the Long Island city of Melville. The deal brings the property, which also houses tenants such as Merrill Lynch Wealth Management, KPMG and RUI Credit Services, to full occupancy. Internal agent Tim Parlante represented the landlord, The Feil Organization, in the lease negotiations.

June 30, 2021

Leasing Activity Michigan Midwest Retail

F45 Training Signs 5,100 SF Retail Lease in Farmington Hills, Michigan

by Kristin Harlow June 29, 2021

FARMINGTON HILLS, MICH. — F45 Training has signed a lease for 5,100 square feet of retail space at The Groves Shopping Center in Farmington Hills. The fitness concept specializes in high-intensity group workouts. Joel Kestenberg of Friedman Real Estate represented the undisclosed landlord in the lease transaction.

June 29, 2021

Leasing Activity Office Texas

FDIC Signs 163,000 SF Office Lease in Dallas Arts District

by Taylor Williams June 29, 2021

DALLAS — The Federal Deposit Insurance Corp. (FDIC) has signed a 163,000-square-foot office lease at Plaza of the Americas, a mixed-use development in the Dallas Arts District that consists of two 25-story towers, a Marriott-branded hotel and 20 retail and restaurant outlets. Keith Lavey, Victoria Abbasi, Charles Dilks, Matt Johnston, Kurt Stout, Connor Faught, Travis Ewert and Mary Stoner with Colliers International represented the tenant in the lease negotiations. Kim Brooks, Justin Miller, Paul Wittorf and Laney Underwood of Transwestern represented the landlord, a partnership between M-M Properties Inc and a fund managed by New York-based Clarion Partners.

June 29, 2021

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