COPPELL, TEXAS — Cybersecurity firm Ascent Solutions has signed a 33,000-square-foot office lease at Cypress Waters, a 1,000-acre master-planned community located in the central metroplex city of Coppell. The lease spans the entire seventh floor of the building at 2999 Olympus Blvd. Cribb Altman of JLL and Shannon Reilly of Reilly Commercial represented the tenant, which plans to move in early next year, in the lease negotiations. Billingsley Co. owns Cypress Waters.
NEW YORK CITY — Elara Caring Group, a provider of home-based care services, has signed a 14,039-square-foot office lease in The Fordham area of The Bronx. The tenant will occupy space at The Poe Building on Grand Concourse, which was originally constructed in 1929 and renovated in 1989. The lease term is seven years. Kathy Zamechansky of KZA Realty Group represented the landlord, Poe Affiliates LP, in the lease negotiations. Alex Foley of Swearington Realty Group represented the tenant.
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Which Way is the Retail Pendulum Swinging?
Although the pandemic wreaked havoc on the retail sector in general, the culling of weak concepts has left space for strong retailers to flourish. The retail industry is seeing an explosion in experiential retail, medical/dental space is ubiquitous and non-traditional tenants are jumping at opportunities to secure prime locations. As a result, shopping centers have proven very resilient, says George Macoubray, vice president of retail brokerage with NAI Elliott in Portland, Oregon. “Today’s centers continue to evolve and to address what consumers need in terms of a place for people to congregate and participate in the activities that are important to them.” The entertainment sector was hit hard by the pandemic, he notes. “But now those operators seem to be out looking for locations, and they’re seeing the light at the end of the tunnel. People want to gather. They want to be entertained. They want to go out and do activities. Those kinds of experiences are happening more and more often in shopping centers — and you can’t buy those activities on Amazon.” Exciting new in-person experiences are helping to elevate shopping centers. “There’s an influx of experiential retail. From golf simulator experiences to ping-pong places to axe-throwing activities, …
CARROLLTON, TEXAS — Holt Lunsford Commercial has negotiated a 69,590-square-foot industrial lease at Valwood Trade Center in the northern Dallas metro of Carrollton. Andrew Gilbert and Keaton Brice of Holt Lunsford represented the landlord, Boston-based TA Realty, in the lease negotiations. Steven Berger of CBRE represented the tenant, crating and packaging firm DGM Services Inc.
DALLAS — Embroidery Graphix, a locally based company that manufactures personalized apparel, has signed a 12,649-square-foot industrial lease at 1489 Prudential Drive in northwest Dallas. Sean Smith, Brendan Zrowka and Lauren Pesqueda of Whitebox Real Estate represented the tenant in the lease negotiations. Jason Moser of Stream Realty Partners represented the undisclosed landlord.
NEW YORK CITY — Law firm Cullen & Dykman has signed a 28,307-square-foot office lease at One Battery Park Plaza, a 35-story, 870,000-square-foot tower in Lower Manhattan. Ken Rapp, David Hollander and Andrew Sussman of CBRE represented the tenant, which is relocating from 44 Wall Street, in the lease negotiations. Kevin Daly and Tom Keating represented the landlord, The Rudin Family, on an internal basis.
DALLAS — Lee & Associates has negotiated a 153,150-square-foot industrial lease at 2340 I-35 W. Service Road in Dallas. The crane-served building features 24-foot clear heights, 24 drive-in doors and 6.8 acres of outdoor storage space. Joseph Mullican and Brett Lewis of Lee & Associates represented the undisclosed tenant, which will occupy the entirety of the building, in the lease negotiations. The name and representative of the landlord were not disclosed.
HIRAM, GA. — Automann Inc., a global distributor of truck and trailer chassis and brake components, has signed a 367,000-square-foot industrial lease within Silver Comet Industrial Park in Hiram. The New Jersey-based firm is expected to bring 150 jobs to the Paulding County area, which sits west of Atlanta along U.S. Route 278 and State Route 92. Automann is occupying all of Building I, which is the first of six facilities planned at the 128-acre industrial complex. Silver Comet Industrial Park’s landlord is SK Commercial Realty, Goldenrod Cos. and Paulding County Economic Development. The ownership will break ground on the facility, which will feature 36-foot clear heights and 29 dock doors, in the coming months.
DALLAS — Taxila Stone, a wholesale distributor of stone surfaces, has signed a build-to-suit industrial lease at PROTO Park, a 250,000-square-foot development in the Brookhollow submarket of Dallas. The square footage was not disclosed. The owner of PROTO Park, Fort Worth-based M2G Ventures, is underway on construction of the facility. Harrison Putt of Mercer Co. and Bo Puckett of JLL represented the tenant in the lease negotiations. Jason Moser and Hanes Chatham of Stream Realty Partners represented M2G Ventures.
NEW YORK CITY — Global private equity firm Clayton, Dubilier & Rice has signed an office lease renewal and expansion at The Seagram Building, a 38-story tower located at 375 Park Ave. in Manhattan. The company now occupies 70,000 square feet across four floors. Andrew Sachs and Ben Shapiro of Newmark represented the tenant, which has been headquartered at the building for nearly three decades, in the lease negotiations. A.J. Camhi and Paul Milunec internally represented the landlord, locally based investment firm RFR.