Leasing Activity

Starrett-Lehigh-Building-Manhattan

NEW YORK CITY — Fashionphile, a California-based provider of resale services for women’s apparel and accessories, has signed a 60,000-square-foot office lease at the Starrett-Lehigh Building in the Chelsea neighborhood of Manhattan. The building encompasses 2.3 million square feet of office and retail space and a full city block along 11th and 12th avenues and 26th and 27th streets. Jason Frazier and Jesse de la Rama of CBRE represented the tenant in the lease negotiations. Dan Birney and Denise Rodriguez represented the landlord, RXR Realty, on an internal basis along with Jeffrey Fischer, Evan Haskell, Mary Ann Tighe and Sacha Zarba of CBRE. The lease term was 10 years, and the asking rent was $70 per square foot.

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At Home

GLENARDEN, MD. — Heritage Partners has signed the lease of the entire former JC Penney store at Woodmore Towne Centre in Glenarden to At Home, a home decor retail chain based in Plano, Texas. At Home will fully occupy the 96,446-square-foot space, initially taking possession early 2021 and opening this summer. At Home currently operates 227 stores in 40 states, and its stores each carry up to 50,000 items across broad product categories including furniture, garden, home textiles, housewares, patio, rugs, seasonal decor, tabletop decor and wall decor. Woodmore Towne Centre is a 245-acre mixed-use property with retail tenants such as Best Buy, Wegmans and Nordstrom Rack. In the summer of 2020, the JC Penney at Woodmore Towne Centre closed, along with over 150 other stores. Heritage Partners is a real estate development firm with a focus in the Mid-Atlantic markets.

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HALTOM CITY, TEXAS — Henry S. Miller Brokerage has negotiated a 36,616-square-foot industrial lease in Haltom City, a suburb of Fort Worth. Dan Spika and Scott Axelrod of Henry S. Miller represented the tenant, Chicago-based L & W Supply Corp., in the lease negotiations. The representative of the landlord, Fort Worth-based Key Partners Ltd., was not disclosed.

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498-Seventh-Avenue-Manhattan

NEW YORK CITY — Dattner Architects has signed a 30,000-square-foot office lease at 498 Seventh Avenue, a 25-story building in Midtown Manhattan. Recent capital improvements at 498 Seventh Avenue include new lobbies and entrances, new retail storefronts, upgraded destination dispatch elevators, new turnstiles with facial recognition software, a grab-and-go coffee kiosk by Ground Central Coffee and a dedicated lounge area for tenants. Robert Frost and Andy Weiss of Signature Partners LLC represented the tenant in the lease negotiations. Andrew Conrad and Matt Coudert represented the landlord, George Comfort & Sons, on an internal basis.

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OPELIKA, ALA. — W. P. Carey Inc., a New York City-based net lease REIT, has purchased an industrial property located at 3101 Anderson Road in Opelika for $49 million. W. P. Carey purchased the 703,000-square-foot, Class A logistics facility in a sale-leaseback transaction with JOANN, a sewing and fabrics retailer based in Hudson, Ohio. The property is triple-net-leased to JOANN for a period of 20 years, with fixed annual rent escalations. The cross-dock facility features up to 40-foot clear heights and is on a site that allows for future expansion. The property is located along Interstate 85. Built in 2005, it supplies products to more than one-third of JOANN’s nearly 900 retail locations nationwide.

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Fountain-Place-Dallas

DALLAS — Integrity Marketing Group, a distributor of life and health insurance products, has signed a 100,000-square-foot office lease for its new headquarters at Fountain Place, a 58-story building in the Dallas Arts District. CBRE’s Josh White and Ryan Buchanan represented the tenant, which will occupy six floors at Fountain Place as part of its relocation from Coppell, in the lease negotiations. CBRE’s Fletcher Cordell, Dennis Barnes and Jackie Marshall represented the landlord, Goddard Investment Group, which recently completed a $75 million renovation at the property. That project included the addition of a 10-story parking garage, retail and restaurant space and a tenant lounge and conference center.

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OLATHE, KAN. — 1A Auto has signed a long-term lease renewal for 347,689 square feet of industrial space at Building B within Olathe’s I-35 Logistics Park. Founded in 1999, 1A Auto is an auto parts supplier that caters to consumers completing their own auto repairs. Mark Long and John Faur of Newmark Zimmer represented the tenant in the lease transaction. Kevin Wilkerson of JLL represented the undisclosed landlord.

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DALLAS — Locally based brokerage firm Holt Lunsford Commercial has negotiated a 117,047-square-foot industrial lease renewal at 3901 Pipestone Road in West Dallas. According to LoopNet Inc., the property sits on 7.6 acres and spans 176,274 square feet. John Gorman of Holt Lunsford represented the landlord, Prim Turnpike Portfolio LLC, in the lease negotiations. Art Leichner and Andrew Crites with Newmark represented the tenant, New Thermo-Serv Ltd.

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ITASCA, ILL. — American Bear Logistics has signed a 57,143-square-foot industrial lease at 1475 Thorndale Ave. in Itasca. The building features 8,838 square feet of office space, 26 docks, one drive-in doors, 24 trailer stalls and a clear height of 28 feet. Nick Krejci of Darwin Realty/CORFAC International represented the tenant in the lease transaction. American Bear Logistics, an ocean freight transportation company, was seeking a larger warehouse near O’Hare International Airport to support growing demand from its customers, according to Darwin.

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SAN ANTONIO — Zachry Construction & Materials has signed a 55,718-square-foot headquarters lease at Walker Ranch Business Park, a 150,000-square-foot office development in San Antonio by locally based developer Worth & Associates. The tenant will relocate about 190 employees to Walker Ranch Business Park Building II, which is under construction and scheduled to be complete in August, beginning Nov. 1. Mark Krenger of JLL represented Zachry Construction in the lease negotiations. Following this transaction, Building II is 82 percent preleased.

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