Leasing Activity

Sugar Factory to Open in Downtown Detroit This Spring

by Kristin Harlow January 28, 2022

DETROIT — Sugar Factory American Brasserie is set to open in downtown Detroit late this spring. The First Michigan location for the brand will be located at 45 Monroe St. within Bedrock’s One Campus Martius building. The 233-seat restaurant will also feature Sugar Factory’s candy store. The main dining area will offer both indoor and outdoor seating, along with décor including neon signs, floral walls and a candy heart wall. Sugar Factory serves breakfast, lunch and dinner. Its most legendary dessert is the King Kong Sundae, which serves up to 12 people and features 24 scoops of ice cream.

January 28, 2022

California Company News Leasing Activity Retail Western

First Commercial Property Management to Operate Two Shopping Centers in Arizona, California

by Amy Works January 28, 2022

PHOENIX AND MENIFEE, CALIF. — Upland-based 1st Commercial Property Management has been selected to operate two retail centers in Arizona and California. The company will provide management services for Arcadia Crossing Shopping Center, which features more than 450,000 square feet of retail space. Fry’s Food and Drug, Ross Dress for Less, Target, Petco, Burlington and Conn’s Home Plus are tenants at the property. A private foreign owner has selected 1st Commercial to provide property management services for Countryside Marketplace in Menifee. Built in 2008 on 32 acres, the 721,000-square-foot property is fully leased. Current tenants include Super Target, Lowe’s Home Improvement Warehouse, Kohl’s, Best Buy, T.J. Maxx, HomeGoods, Michaels, Burlington, Staples, Petco and Boot Barn.

January 28, 2022

Industrial Leasing Activity Midwest NAI Ohio

JB Hudco Leases 197,518 SF Former Walmart Property in Suburban Cleveland

by Kristin Harlow January 28, 2022

BEDFORD, OHIO — JB Hudco has leased a former Walmart store spanning 197,518 square feet in Bedford, an eastern suburb of Cleveland. The property is located at 22209 Rockside Road. The current owner converted the building into industrial space. Jeffrey Calig and David Hexter of NAI Pleasant Valley represented Texas-based JB Hudco, which provides logistical and order management services to businesses throughout the U.S.

January 28, 2022

Illinois Leasing Activity Midwest Restaurant Retail

Star Cinema Grill to Open at Arboretum of South Barrington in Suburban Chicago

by Kristin Harlow January 27, 2022

SOUTH BARRINGTON, ILL. — Star Cinema Grill has signed a 15-year lease to open a 38,000-square-foot location at The Arboretum of South Barrington in the northwest Chicago suburb of South Barrington. Star Cinema Grill is opening in space previously occupied by IPIC Theaters. Slated to open this spring, the movie theater will offer an extensive menu and full-service bar. Mike Zucker, managing partner of Peak Properties LLC, was named receiver of the 480,000-square-foot shopping center in late 2020. Madeline Wheeler of JLL represented Peak, while Kristen Barker of Wulfe & Co. represented Star Cinema Grill. Cory Born of JLL serves as the general manager of the shopping center.

January 27, 2022

Illinois Industrial Leasing Activity Midwest

Chicagoland Quad Cities Express Signs 89,000 SF Industrial Lease Expansion in Bolingbrook, Illinois

by Kristin Harlow January 25, 2022

BOLINGBROOK, ILL. — Chicagoland Quad Cities Express has signed an 89,000-square-foot lease expansion at 3-9 Timber Court in the Chicago suburb of Bolingbrook. The transportation and warehousing tenant already occupies 90,000 square feet at the 320,722-square-foot property, which was built in 1993. The company will now lease 590,000 square feet in the Chicago market between its Bolingbrook and Bridgeview locations. George Cibula of Darwin Realty/CORFAC International represented the tenant in the new lease, which begins in February. Sean Henrick, Jason West and Ryan Klink of Cushman & Wakefield represented ownership, The Realty Associates Fund Portfolio LP.

January 25, 2022

Indiana Leasing Activity Midwest Office

Raytheon Intelligence & Space Leases 86,965 SF Office Building in Indianapolis

by Kristin Harlow January 25, 2022

INDIANAPOLIS — Raytheon Intelligence & Space has leased Lakefront 6, an 86,965-square-foot office building located at 3939 Priority Way in Indianapolis. Rubenstein Partners LP owns the building, which is part of Lakefront at Keystone, a 1 million-square-foot office park surrounding a 38-acre lake. Raytheon is an aerospace and defense company that provides advanced systems and services for commercial, military and government customers worldwide. Employees at the Lakefront 6 building will work on the development of advanced sensors, cyber and software solutions. Rubenstein and Strategic Capital Partners acquired Lakefront at Keystone in 2017 and embarked on a multimillion-dollar capital improvement plan to include both indoor and outdoor amenity spaces. Tammy Faulk and John Robinson of JLL represented the landlord in the lease. Mike Semler and Brendan O’Shaughnessy of Cushman & Wakefield represented the tenant. Jim Postweiler of Newmark is currently marketing Lakefront 6 for sale.

January 25, 2022

Industrial Leasing Activity Northeast Pennsylvania

National Coatings & Supplies Signs 119,537 SF Industrial Lease in Reading, Pennsylvania

by Taylor Williams January 24, 2022

READING, PA. — National Coatings & Supplies, a North Carolina-based automotive paint distributor, has signed a 119,537-square-foot industrial lease in Reading. The tenant will occupy space at Building A at Berks 222 Industrial Center, which features a clear height of 32 feet. Joel Kreider, Ed Skonecki and Michael Pietropola of Lee & Associates represented the landlord, locally based developer Endurance Real Estate Group, in the lease negotiations. Ida McMurray of SVN Latus represented the tenant.

January 24, 2022

Georgia Leasing Activity Office Southeast

Airbnb to Open New Offices in West Midtown Atlanta

by Julia Sanders January 24, 2022

ATLANTA — Airbnb, a San Francisco-based lodging company, plans to open a new technical hub in the West Midtown neighborhood of Atlanta. Dubbed Atlanta Tech Hub, the new office will be situated within Encore, a 50,000-square-foot space inside SJC Ventures’ Interlock mixed-use project at the corner of 14th Street and Howell Mill Road. Situated about three miles from Georgia State University and one mile from Georgia Tech, Airbnb’s office space is scheduled to open later this year. Encore is a creative loft and mixed-use office space that is dedicated to technology startup growth and expansion. Airbnb’s initial office will be 5,000 square feet with eventual plans to move to a bigger space later on. Georgia Advanced Technology Ventures, an affiliate of the Georgia Tech, is managing Airbnb’s new offices. In the beginning of 2021, Airbnb first announced it was opening a new hub in Atlanta but did not disclose what part of the city. The lodging company says it hopes to add new high-skilled technical and non-technical jobs at the tech hub. According to research by Oxford Economics, in 2019, Airbnb guest spending in Atlanta supported 3,400 jobs, including 1,200 jobs in the restaurant business. The company also says it …

January 24, 2022

Acquisitions Industrial Leasing Activity Midwest Nebraska

Cushman & Wakefield/Lund Negotiates Lease, Sale of 178,368 SF Industrial Property in Nebraska

by Kristin Harlow January 20, 2022

LA VISTA, NEB. — Cushman & Wakefield/The Lund Co. has negotiated both the lease renewal and sale of 11720 Peel Circle in La Vista, a suburb just south of Omaha. The 178,368-square-foot industrial property sits on 16 acres within the Sarpy West submarket. Denny Sciscoe of Cushman & Wakefield/Lund represented the current tenant in its lease renewal. Upon completion of the lease transaction, Sciscoe also marketed the building for sale. The total consideration for both the lease renewal and the sale was $23 million.

January 20, 2022

Leasing Activity Life Sciences Office Texas

PathGroup Signs 126,596 SF Office, Lab Lease in Coppell, Texas

by Taylor Williams January 20, 2022

COPPELL, TEXAS — Nashville-based medical consulting firm PathGroup has signed a 126,596-square-foot lease to occupy the entirety of 121 Corporate Center, an office and laboratory building in Coppell, located near Dallas-Fort Worth International Airport. Dean Collins, Mark Collins, Jason Dodson, Michael Sessa and Jack Keenan of Cushman & Wakefield represented PathGroup in the lease negotiations. Nathan Durham and Duane Henley of Newmark represented the landlord, a partnership between Blackstone and Link Logistics Real Estate.

January 20, 2022

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