Leasing Activity

First-Logistics-Center-@-283-Elizabethtown

First Industrial Inks 1.1 MSF Lease in Elizabethtown, Pennsylvania, Breaks Ground on 700,000 SF Facility

by Taylor Williams October 7, 2022

ELIZABETHTOWN, PA. — Chicago-based First Industrial Realty Trust has inked a 1.1 million-square-foot lease with boohoo, an online fashion retailer based in the United Kingdom, at First Logistics Center @ 283 in Elizabethtown, a southeastern suburb of Harrisburg. Jeff Lockard, Paul Torosian, Ryan Barros and Kyle Lockard of JLL represented the landlord in the lease negotiations. First Industrial has also broken ground on a 700,000-square-foot building at the site that will feature a clear height of 40 feet, 143 loading doors, 194 trailer parking stalls and 318 car parking spaces. Completion of that building is scheduled for the second quarter of 2023.

October 7, 2022

Development Industrial Leasing Activity Michigan Midwest

ONE to Invest $1.6B in Battery Cell Manufacturing Plant in Michigan

by Kristin Harlow October 7, 2022

VAN BUREN TOWNSHIP, MICH. — Our Next Energy (ONE), a Michigan-based energy storage technology company, has unveiled plans to invest $1.6 billion in a new battery cell manufacturing plant in Van Buren Township, about 28 miles southwest of Detroit. The recently constructed facility will be named ONE Circle and is expected to create 2,112 jobs when operating at full capacity by the end of 2027. The 659,589-square-foot facility will produce 200,000 electric vehicle battery packs annually. ONE will begin upgrades and equipment installation at the property in January 2023. Production at the plant is slated to begin in 2024. Ashley Capital owns the property, which is located at 42060 Ecorse Road within the Crossroads Distribution Center.

October 7, 2022

Leasing Activity New York Northeast Office

Applause Signs 17,500 SF Office Lease at 355 Lexington Avenue in Manhattan

by Taylor Williams October 6, 2022

NEW YORK CITY — Applause, a Massachusetts-based provider of digital testing and quality control services, has signed a 17,500-square-foot office lease at 355 Lexington Avenue in Manhattan. Chris Foerch of Savills represented the tenant, which plans to take occupancy of the entire seventh floor later this month, in the lease negotiations. Robert Steinman internally represented the landlord, Rudin, which originally developed the 270,000-square-foot building in 1959.

October 6, 2022

Leasing Activity Office Southeast Tennessee

Foundry Commercial Arranges 125,008 SF Office Lease at McEwen Northside in Nashville’s Cool Springs District

by John Nelson October 6, 2022

FRANKLIN, TENN. — Foundry Commercial has arranged a 125,008-square-foot office lease at McEwen Northside, a 45-acre mixed-use campus in Nashville’s Cool Springs submarket. Located in the city of Franklin, the development features 1 million square feet of office space, 113,000 square feet of restaurants and specialty retail, a 150-room hotel, 770 luxury apartment units and green spaces. The tenant, procurement and supply chain management organization OMNIA Partners, will occupy all five floors of office space at the project’s Block A building starting in early 2023. The building also houses 19,000 square feet of retail and restaurant space on the ground level. OMNIA is relocating from its current headquarters, which is also in Franklin. Vince Dunavant of Foundry Commercial represented the tenant in the lease negotiations. The landlord is Boyle Investment Co., co-developer of McEwen Northside alongside Northwood Ravin.

October 6, 2022

Acquisitions Industrial Leasing Activity Southeast Virginia

Cushman & Wakefield | Thalhimer Secures $20M Sale-Leaseback of Distribution Center in Norfolk

by John Nelson October 6, 2022

NORFOLK, VA. — Cushman & Wakefield | Thalhimer has secured the $20 million sale-leaseback of a 346,000-square-foot distribution facility located at 1129 Production Road in Norfolk. The undisclosed seller leased back a portion of the property, which is situated on a 18.3-acre site within Norfolk Industrial Park. An entity doing business as 1129 Production Road LLC purchased the property as part of a 1031 exchange. Clark Simpson, Erik Conradi, Geoff Poston and Clay Culbreth of Thalhimer represented the buyer in the transaction. Poston is the exclusive leasing representative for the property and is marketing the remaining industrial space for lease. Christina Erman, also with Thalhimer, has been named portfolio manager of the facility.

October 6, 2022

Leasing Activity Office Texas

Phaidon International Signs 26,687 SF Office Lease in Dallas

by Taylor Williams October 5, 2022

DALLAS — Staffing and recruitment agency Phaidon International has signed a 26,687-square-foot office lease at The Centrum in the Oak Lawn area of Dallas. The property houses a courtyard, rooftop deck, tenant lounge, conference center, fitness center and ground-floor retail and restaurant space. Travis Boothe, Robbie Baty and Hannah Henley of Cushman & Wakefield represented Phaidon in the lease negotiations. Addie Ludwig internally represented the landlord, Cawley Partners, which owns the property in partnership with Oak Tree Capital.

October 5, 2022

Leasing Activity New York Northeast Office

Impact.com Signs 18,364 SF Office Lease at 136 Madison Avenue in Manhattan

by Taylor Williams October 5, 2022

NEW YORK CITY — Marketing and technology firm Impact.com has signed an 18,364-square-foot office lease at 136 Madison Avenue in Midtown Manhattan. The 17-story, 300,000-square-foot building houses tenants such as Syracuse University, Regus, Bernhardt Furniture, Wacoal and Green Key. Eric Cagner of Newmark and Alex Leopold of CBRE represented the tenant, which plans to relocate from the Empire State Building to the entire 10th floor at the end of the year, in the lease negotiations. Mac Roos of Colliers represented the landlord, Williams Equities.

October 5, 2022

Development Georgia Leasing Activity Mixed-Use Southeast

Judge Commercial Adds Six New Tenants at West Broad Redevelopment Project in Savannah

by John Nelson October 4, 2022

SAVANNAH, GA. — Judge Commercial has welcomed six new commercial tenants at West Broad, a mixed-use redevelopment of the historic 300 block of Martin Luther King Jr. Boulevard in west Savannah. The new tenants include Savannah Square Pops, Origin Coffee Bar, Chewning Interiors, AMPT-Savannah, Smithereens and National Marine Sanctuary Foundation. Existing tenants at West Broad include Forsight Eye Care, Rethink Design and Sweet Peach Cosmetic Tattoo. West Broad’s first floor is fully leased and there are commercial and coworking spaces available for lease on the second and third floors, according to Judge Commercial. The 300 block was originally constructed between 1910 and 1922 and housed the landmark Thrifty Supply Center hardware store for 60 years. Urban design and civic architecture firm Sottile and Sottile oversaw the redesign of the four-story, 60,000-square-foot adaptive reuse project.

October 4, 2022

Acquisitions Data Centers Florida Leasing Activity Southeast

JLL Arranges $34M Sale-Leaseback of South Florida Data Center

by John Nelson October 4, 2022

DORAL, FLA. — JLL has arranged the $34 million sale-leaseback of a 103,000-square-foot data center located at 2100 N.W. 84th Ave. in Doral, a suburb of Miami. Carl Beardsley, Jake Wagner, Josh Katlin, Luis Castillo and Manny de Zárraga of JLL represented the undisclosed seller, which will lease a portion of the space. The unnamed buyer will occupy the remaining space. Situated within America’s Gateway business park in Miami’s Airport industrial submarket, the freestanding facility features several fiber providers, a covered loading dock and 4,092 square feet of mezzanine space. The seller recently invested “significant capital” to update the property, according to JLL.

October 4, 2022

Development Illinois Industrial Leasing Activity Midwest

DSV Air & Sea Preleases 307,378 SF Industrial Building in Bensenville, Illinois

by Kristin Harlow October 4, 2022

BENSENVILLE, ILL. — DSV Air & Sea Inc. has preleased a 307,378-square-foot industrial building in the Chicago suburb of Bensenville. The property at 1401 Devon Ave. is slated for completion in spring 2023. ML Realty Partners owns the development along with an adjacent 297,238-square-foot building that was leased by Apex Logistics International Inc. last winter. Both buildings feature a clear height of 40 feet and are situated in DuPage County. The site is less than one-half mile north of Illinois Route 390. Kevin Segerson of CBRE represented DSV Air & Sea in the lease. Andrew Maletich, Matt Garland and Dustin Albers of Cawley Chicago represented ML Realty Partners.

October 4, 2022

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