Leasing Activity

Spot Signs 42,500 SF Lease for New Office in Indianapolis

by Kristin Harlow March 18, 2022

INDIANAPOLIS — Spot Freight Inc., a logistics company, has signed a 42,500-square-foot lease at Capital Center for its second office in downtown Indianapolis. Spot will occupy the 11th and 12th floors of the newly renovated building and plans to hire more than 200 employees in Indianapolis by 2023. Completion of the tenant’s new office space is slated for the fourth quarter of this year. Mike Semler of Cushman & Wakefield represented Spot. The building owner, Zeller, has invested more than $8 million to renovate Capital Center. Spot’s current headquarters at 141 S. Meridian St. will continue to house the sales and service divisions of the company. Spot currently employs more than 400 employees in the U.S., with additional offices in Charlotte, N.C., and Tempe, Ariz.

March 18, 2022

Leasing Activity Midwest Minnesota Restaurant Retail

Shake Shack, Panera Bread Sign Leases at Rosedale Center in Roseville, Minnesota

by Kristin Harlow March 18, 2022

ROSEVILLE, MINN. — Shake Shack and Panera Bread have signed leases at Rosedale Center, a nearly 1.3 million-square-foot shopping center in Roseville, a suburb of the Twin Cities. Shake Shack will occupy 3,500 square feet, while Panera Bread will lease 4,000 square feet. Both establishments are scheduled to open in winter 2023 and will feature drive-thru service in addition to indoor and patio seating. Holly Rome and Lane Walsh of JLL, along with Robin Sande of Newmark, secured the tenants. Rosedale Center is home to roughly 160 retailers.

March 18, 2022

Industrial Leasing Activity New Jersey Northeast

Phoenix Aromas Signs 79,466 SF Industrial Lease Renewal in Norwood, New Jersey

by Taylor Williams March 18, 2022

NORWOOD, N.J. — Phoenix Aromas & Essential Oils has signed a 79,466-square-foot industrial lease renewal at 355 Chestnut St. in the Northern New Jersey community of Norwood. Owned and developed by Alfred Sanzari Enterprises, the property features six loading docks and a clear height of 20 feet. Mitch Helfman of MRH Real Estate Services represented the tenant in the lease negotiations. Steve Jennings represented the landlord on an internal basis.

March 18, 2022

Leasing Activity New York Northeast Retail

Apple Cinemas to Open Movie Theater in Rochester, New York

by Taylor Williams March 17, 2022

ROCHESTER, N.Y. — Apple Cinemas, a provider of luxury moviegoing experiences, will open a movie theater in the upstate New York city of Rochester. The number of screens and opening date were not disclosed. The space spans 27,452 square feet and is located within Pittsford Plaza. Don Mace of Massachusetts-based KeyPoint Partners represented the tenant in the lease negotiations. Apple Cinemas also recently opened two new theaters in the Hartford, Connecticut market, two in New Hampshire and two in Maine. The chain intends to open 100 new venues over the next decade.

March 17, 2022

Industrial Leasing Activity New York Northeast

IBM Signs 328,000 SF Office Lease at One Madison Avenue in Manhattan

by Taylor Williams March 16, 2022

NEW YORK CITY — IBM has signed a 328,000-square-foot office lease at One Madison Avenue in Manhattan. The tenant will occupy portions of floors two and seven, the entirety of floors eight through 10 and a portion of the ground floor, where IBM will have an exclusive lobby entrance. The lease term is 16 years. Owned by SL Green Realty Corp. (NYSE: SLG), One Madison Avenue houses a 56,000-square-foot Chelsea Piers Fitness; a 13,000-square-foot restaurant; a 10,000-square-foot artisanal food market; a 7,000-square-foot tenant lounge; and a 5,000-square-foot rooftop terrace. Patrick Murphy, Josh Kuriloff and Winston Schromm of Cushman & Wakefield represented IBM in the lease negotiations. Paul Glickman, Alex Chudnoff, Diana Biasotti and Ben Bass of JLL represented SL Green.

March 16, 2022

Leasing Activity New York Northeast Retail

Bed Bath & Beyond Renews 42,000 SF Lease in Bohemia, New York

by Taylor Williams March 16, 2022

BOHEMIA, N.Y. — Bed Bath & Beyond has renewed its 42,000-square-foot lease at Sayville Plaza, a shopping center located in the Long Island community of Bohemia. Other tenants at Sayville Plaza include Northwell Health, Old Navy, Panera Bread, Jennifer Furniture, The Vitamin Shoppe, Chipotle Mexican Grill and Sprint. Robert Delavale of Breslin Realty represented the landlord in the lease negotiations.

March 16, 2022

Industrial Leasing Activity Southeast Virginia

Automotive Supplier Signs 387,558 SF Industrial Lease in Roanoke

by Julia Sanders March 11, 2022

ROANOKE, VA. — Würth Revcar Fasteners Inc., a locally based full-line and full-service assembly component supplier, has signed a 387,558-square-foot industrial lease in Roanoke. Würth Revcar Fasteners will fully occupy the building and expects to open its new location in the third quarter. Located at 1 Avery Row, the distribution and warehouse building was formerly occupied by Home Shopping Network for the past 30 years. The building will now serve as Würth Revcar Fasteners’ new headquarters. The facility will be used to ship directly to customers throughout North America and distribute inventory to eight regional branch locations. Norman Moon Jr. and Kent Roberts of Cushman Wakefield | Thalhimer represented the tenant in the lease negotiations, with the assistance of John Minervini of Cushman & Wakefield’s Los Angeles office. Doug Faris and Derek Anderson with Binswanger represented the landlord, Blue Ridge Partners LLC.

March 11, 2022

Illinois Leasing Activity Midwest Office

Two New Tenants Sign Leases at Concourse Chicago Office Property

by Kristin Harlow March 11, 2022

CHICAGO — Two new tenants have signed leases at The Concourse Chicago office property, which is owned and managed by Berger Asset Management. The Ministry of Foreign Affairs of El Salvador leased 5,965 square feet and expects to take occupancy this summer. The tenant is relocating and expanding its Chicago office from a Michigan Avenue location. GEI Consultants, a national engineering and environmental consulting firm, leased 8,006 square feet. The firm is relocating from Vernon Hills, Ill. Concourse Chicago, which spans 165,000 square feet across 12 single-story buildings, is now 90 percent occupied. Steve Chrastka and Jason Wurtz of NAI Hiffman are the leasing agents for the property. Tom Hanson of Hanson Commercial Real Estate represented the Ministry of Foreign Affairs of El Salvador, while Jordan Rovito and Jonathan Metzl of Cushman & Wakefield represented GEI Consultants.

March 11, 2022

Development Industrial Leasing Activity Texas

Walmart to Open 1 MSF Distribution Center Near Port Houston, Create 300 Jobs

by Taylor Williams March 11, 2022

BAYTOWN, TEXAS — Walmart (NYSE: WMT) has signed a lease to open a 1 million-square-foot distribution center at Cedar Port Trade Center in the eastern Houston suburb of Baytown. The Arkansas-based retail giant is expanding its supply chain operations near Port Houston, where it already occupies several million square feet of industrial space, with plans to add about 300 new jobs to the regional economy. Dallas-based Hunt Southwest developed the property on a speculative basis, beginning construction in September 2020 and completing the project in April 2021. Joseph Smith, Bill Frain and Jamie Roussel of CBRE represented Walmart, which plans to open the facility in the fall, in the lease negotiations. Jason Dillee and Nathan Wynne, also with CBRE represented Hunt Southwest.

March 11, 2022

Leasing Activity Michigan Midwest Retail

Carelinc Medical Equipment Signs 12,250 SF Retail Lease in Saginaw, Michigan

by Kristin Harlow March 10, 2022

SAGINAW, MICH. — Carelinc Medical Equipment, a home medical equipment supply company, has signed a 12,250-square-foot retail lease at Fashion Square West, a retail strip center in the Mid-Michigan city of Saginaw. David Depodesta and James Mitchell of Dominion Real Estate Advisors LLC worked alongside Michele Rosenblum of Lee & Associates and Earl Clements of Clements Realty on the five-year lease. Clements represented the tenant. The owner of the property was not released.

March 10, 2022

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