Leasing Activity

GSA Justice Department Signs 55,000 SF Industrial Lease in Elk Grove Village, Illinois

by Kristin Harlow June 21, 2022

ELK GROVE VILLAGE, ILL. — The GSA Justice Department has signed a 55,000-square-foot industrial lease at 2500 York Road in Elk Grove Village. GSA will fully occupy the property, which is owned by Chicago-based Dayton Street Partners (DSP). The building, which is located directly across the street from the Chicago O’Hare International Airport, features three drive-in doors, parking for 110 cars and ceiling heights ranging from 24 to 38 feet. GSA will utilize the space for central operations for the airport. DSP acquired the property in January 2020.

June 21, 2022

Leasing Activity New Hampshire Northeast Restaurant Retail

Tuscan Brands Welcomes New Tenants to Flagship Destination in Salem, New Hampshire

by Taylor Williams June 21, 2022

SALEM, N.H. — Tuscan Brands has welcomed new tenants to Tuscan Village, its 170-acre flagship shopping, dining and entertainment destination located north of Boston in Salem, New Hampshire. Nike (15,000 square feet) and Chick-fil-A (5,000 square feet) both recently opened, and Mass General Brigham will open a primary and specialty care medical facility later this summer. The Container Store will launch a 15,000-square-foot store this winter. Other tenants that have committed to Tuscan Village include T-Mobile, Xfinity, Crumbl Cookies, Banfield Pet Hospital, LensCrafters and Bennett’s Sandwich Shop.

June 21, 2022

Leasing Activity New York Northeast Office

Shawmut Design & Construction Signs 27,015 SF Office Lease in Midtown Manhattan

by Taylor Williams June 21, 2022

NEW YORK CITY — Shawmut Design & Construction has signed a 27,015-square-foot office lease at 488 Madison Avenue in Midtown Manhattan. The lease term is 15 years. The 23-story building was originally designed in 1949 and was known as the “The Look Building” for the defunct magazine that was its primary tenant until 1971. David Hollander and Jared Freede of CBRE represented the tenant represented the tenant in the lease negotiations. David Turino represented the landlord, The Feil Organization, on an internal basis.

June 21, 2022

Content Partner Features Leasing Activity Midwest NAI Northeast Southeast Texas Western

Cell Tower Leases, Renegotiations Offer Ancillary Income, Options for Landlords

by Sarah Daniels June 21, 2022

What should potential landlords know about leasing space for cell towers or renegotiating their legacy leases? “Landlords need to understand what economic opportunity they have available to them,” says David Moore, CEO and principal at NAI Global Wireless. Involving cell tower lease consultants, especially for existing leases, and considering cell site buyouts are two powerful tools available to cell site landlords today. For decades, Moore explains, property owners have been willing to sign less-than-ideal agreements with carriers and tower companies. Over the years, landlords, thinking that just because these cell tower sites are small and out of the way or because they did not want to turn down “free money,” were willing to sign disadvantageous lease agreements. Landlords often do not understand the impact of signing a lease agreement with a potential term of 30 years (made up of five-year terms), especially when tenants might use leases to constrain certain real estate negotiations (including rights like tenant approval for buyers, rights of first refusal and noncompetition clauses). In many cases, tenants have the unilateral right to terminate their lease without notice, a right about which landlords frequently aren’t aware. Rent escalations, terms and conditions, inflation and more need to be …

June 21, 2022

Leasing Activity New York Northeast Retail

Indoor Climbing Concept Opens 10,000 SF Gym in Yonkers

by Taylor Williams June 20, 2022

YONKERS, N.Y. — Hapik, an indoor climbing concept, has opened a 10,000-square-foot gym in Yonkers, located north of New York City. The gym will be located in the Ridge Hill lifestyle center and will feature 50 different auto belay fun climbing walls ranging from beginner to advanced levels, two ropes courses and a snack bar. The gym is the fitness company’s third in the United States and its 25th worldwide, with 15 in France and seven in the United Kingdom.

June 20, 2022

Leasing Activity New Jersey Northeast Office

Siemens Signs 65,500 SF Office Lease in Iselin, New Jersey

by Taylor Williams June 17, 2022

ISELIN, N.J. — Industrial technology firm Siemens has signed a 65,500-square-foot office lease at 200 Wood Avenue South, an office building located within the Metropark development in the Northern New Jersey community of Iselin. The 270,000-square-foot building features a newly renovated lobby, fitness center, collaborative common areas and landscaped outdoor amenity spaces. Jeff Babikian of CBRE represented Siemens in the lease negotiations. Wes Moore, also with CBRE, represented the landlord, SJP Properties.

June 17, 2022

Leasing Activity Midwest Ohio Retail

Amazon Style Store to Open at Easton Town Center in Columbus, Ohio

by Kristin Harlow June 17, 2022

COLUMBUS, OHIO — Amazon is opening an Amazon Style store at Easton Town Center in Columbus. The store will be the first Amazon Style location in the state of Ohio and the second nationwide for the e-commerce giant. The first Amazon Style store opened in the Los Angeles area May 25. As Amazon’s first-ever physical clothing store, Amazon Style is designed to help customers discover fashion looks through a personalized and convenient shopping experience using advanced technology. Customers can scan items on the Amazon Shopping app to send them to fitting rooms or directly to the pickup counter to purchase. In the fitting rooms, customers can use an in-room touchscreen to request additional sizes, colors and styles.

June 17, 2022

Illinois Industrial Leasing Activity Midwest

Sonica International Signs 43,672 SF Industrial Lease in Itasca, Illinois

by Kristin Harlow June 17, 2022

ITASCA, ILL. — Sonica International, a freight forwarding company, has signed a 43,672-square-foot industrial lease at 1420 W. Thorndale Ave. in Itasca. Dustin Albers, Andrew Maletich and Matt Garland of Cawley Chicago represented the tenant, which will utilize the space to separate its ocean and air freight. Hamilton Partners owns the building.

June 17, 2022

Industrial Leasing Activity Texas

Verdi Commerce Signs 94,249 SF Industrial Lease in Garland, Texas

by Taylor Williams June 16, 2022

GARLAND, TEXAS — Verdi Commerce, a marketing and consulting platform for e-commerce users, has signed a 94,249-square-foot industrial lease at 3901 W. Miller Road in Garland, a northeastern suburb of Dallas. According to LoopNet Inc., the property was built in 2008 and totals 435,179 square feet. Merideth Murphey, Evan Hammer, Lauren Pesqueda and Brendan Zrowka of Whitebox Real Estate represented the tenant in the lease negotiations. Robert Allen internally represented the landlord, First Industrial Texas.

June 16, 2022

Leasing Activity New York Northeast Office

Prosek Partners Signs 34,000 SF Office Lease in Midtown Manhattan

by Taylor Williams June 16, 2022

NEW YORK CITY — Corporate communications and public relations firm Prosek Partners has signed a 34,000-square-foot office lease at 28 East 28th Street in Manhattan’s Midtown South area. The tenant plans to relocate to the 15th floor of the newly renovated building, which houses a Whole Foods Market on the ground floor, from 105 Madison Avenue in the fourth quarter. Barry Zeller, Jonathan Serko and Barry Garfinkle of Cushman & Wakefield represented the tenant in the lease negotiations. Peter Duncan, Matt Coudert and Alex Bermingham represented the landlord, George Comfort & Sons, which owns the building in partnership with Jamestown and Loeb Partners Realty, on an internal basis.

June 16, 2022

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