Leasing Activity

CBRE Negotiates 205,306 SF Industrial Lease for T.J. Maxx in Metro Baltimore

by Alex Tostado December 18, 2020

JESSUP, MD. — CBRE has negotiated a 205,306-square-foot industrial lease for T.J. Maxx within the Mid-Atlantic Commerce Center in Jessup. The owner, Grandview Partners, acquired the 853,250-square-foot property earlier this year. The Westport, Conn.-based company implemented upgrades at the property to include a new roof, dock doors, electrical system, lighting and a 123,000-square-foot tilt-wall expansion. The asset is situated at 7600 Assateague Drive, 11 miles southwest of Baltimore/Washington Thurgood Marshall International Airport and 15 miles southwest of the Port of Baltimore. Brian Kruger, Bobby Clements and Erik Evans of Newmark represented the landlord in the transaction. The Mid-Atlantic Commerce Center is now 92 percent leased.

December 18, 2020

Connecticut Industrial Leasing Activity Northeast

Simone Development Lands Two Tenants at 118,500 SF Industrial Facility in Stamford, Connecticut

by Taylor Williams December 18, 2020

STAMFORD, CONN. — New York City-based Simone Development Cos. has signed two tenants at its 118,500-square-foot industrial facility located at 316 Courtland Ave. in Stamford. Beacon Exterior Products, a distributor of roofing and other building supplies, inked a deal to occupy 45,000 square feet. That lease consists of 25,000 square feet of warehouse and office space and 20,000 square feet of yard space for parking and additional storage. In addition, electronics manufacturer Amphenol Nexus Technologies signed a lease for 31,134 square feet of indoor space.

December 18, 2020

Industrial Leasing Activity South Carolina Southeast

Colliers Negotiates 134,000 SF Industrial Lease in Upstate South Carolina for Automotive Supplier

by Alex Tostado December 17, 2020

DUNCAN, S.C. — Colliers International has negotiated a 134,000-square-foot industrial lease for MingHua USA Inc., a manufacturer of plastic automotive parts and molds, within Woods Chapel Crossing industrial park in Duncan. MingHua is a subsidiary of China-based Jiangnan Mold Plastic Technology Corp. (JMPT). MingHua originally entered the market in 2016 when it signed a 160,000-square-foot lease for an injection molding facility in Greer, less than a half-mile from Woods Chapel Crossing. JMPT’s customers include BMW, Mercedes-Benz, Volkswagen and General Motors. MingHua’s facility is situated at 1121 Woods Chapel Road, two miles from Interstate 85 and equidistant between Spartanburg and Greenville. The landlord, Atlanta-based Robinson Weeks, is developing Woods Chapel Crossing on a speculative basis. This is the first lease signed within the park. Dillon Swayngim of Colliers represented the tenant in the lease negotiations. Kacie Jackson, Brian Young and Elliot Fayssoux of Cushman & Wakefield | Thalhimer represented the landlord.

December 17, 2020

Healthcare Leasing Activity New Jersey Northeast

Englewood Health Signs 19,892 SF Healthcare Lease Expansion in Jersey City

by Taylor Williams December 17, 2020

JERSEY CITY, N.J. — Englewood Health, a New Jersey-based healthcare provider, has signed a 19,892-square-foot lease expansion at 2 Journal Square in Jersey City. The expanded space will allow the provider to add a new orthopedic clinic, an urgent care, breast and women’s imaging center and medical offices for treating oncology and diabetes patients. CBRE’s Greg Barkan, Remy deVarenne and Sam Bernhaudt represented Englewood Health, which originally signed a 53,222-square-foot lease this summer, in the lease negotiations. GAIA Real Estate owns the building.

December 17, 2020

Industrial Leasing Activity Midwest Missouri

Cambridge Air Solutions Signs 68,605 SF Industrial Lease in Metro St. Louis

by Kristin Harlow December 16, 2020

WENTZVILLE, MO. — Cambridge Air Solutions has signed a 68,605-square-foot industrial lease at 1290 Interstate Drive in Wentzville within metro St. Louis. Houston-based SparrowHawk LLC owns the 420,000-square-foot building in a joint venture with American National Insurance Co. Cambridge is a manufacturer and distributor of HVAC systems. This is the second St. Louis-area location for Cambridge, which maintains its headquarters at 760 Long Road Crossing Drive in Chesterfield. Christopher Schmidt of JLL represented Cambridge in the lease transaction. David Branding and Patrick Reilly of JLL represented SparrowHawk.

December 16, 2020

Illinois Leasing Activity Midwest Office

JBS Commercial Real Estate Negotiates 18,595 SF Office Lease Transaction in Arlington Heights

by Kristin Harlow December 16, 2020

ARLINGTON HEIGHTS, ILL. — JBS Commercial Real Estate has negotiated an 18,595-square-foot office lease at 3930 Ventura Blvd. in Arlington Heights, a northwest suburb of Chicago. Jason Shibata and Brian Silverman of JBS represented building ownership, Pal Group Inc. Avison Young represented the tenant, Sonoco Protective Solutions, which provides a myriad of packaging solutions to protect products in the automotive, electronics, appliances, medical and office furniture industries. The company, which maintains nearly 30 locations in North America, will use the new space for a regional sales and administrative office. The 57,000-square-foot, single-story office building is now 80 percent leased.

December 16, 2020

Industrial Leasing Activity Texas

S.I. Warehousing Signs 252,203 SF Industrial Lease at Monument Business Park Near Houston

by Taylor Williams December 16, 2020

DEER PARK, TEXAS — Logistics firm S.I. Warehousing Co. Inc., a subsidiary of St. Louis-based Slay Industries, has signed a 252,203-square-foot industrial lease at Monument Business Park in Deer Park, an eastern suburb of Houston. Monument Business Park consists of a 414,900-square-foot cross-dock building and a 194,610-square-foot front-load building that were completed in the fourth quarter of 2019. The buildings feature 32- to 36-foot clear heights and ample trailer parking. David Munson of Boyd Commercial represented the owner and developer, Molto Properties, in the lease negotiations. Kelley Parker, Coe Parker and John Littman of Cushman & Wakefield represented the tenant.

December 16, 2020

Leasing Activity New York Northeast Office

JLL Negotiates 14,795 SF Office Lease at 485 Lexington Avenue in Manhattan

by Taylor Williams December 16, 2020

NEW YORK CITY — JLL has negotiated a 14,795-square-foot office lease at 485 Lexington Avenue in Manhattan for marketing company Trusted Media Brands, which is relocating from 750 Third Avenue. The term of the new lease is 10 years. Matthew Astrachan, Mitch Konsker and Kristen Morgan of JLL represented the tenant in the lease negotiations. Paul Glickman, Jonathan Fanuzzi, Diana Biasotti and Kip Orban, also with JLL, represented the landlord, SL Green.

December 16, 2020

Illinois Industrial Leasing Activity Midwest

Anritsu Infivis Signs 61,627 SF Industrial Lease at Elk Grove Technology Park

by Kristin Harlow December 15, 2020

ELK GROVE VILLAGE, ILL. — Anritsu Infivis Inc. has signed a 61,627-square-foot industrial lease at 701 Innovation Drive within the Elk Grove Technology Park in Elk Grove Village. The tenant is a supplier of advanced product inspection and foreign material detection equipment installed on food and pharmaceutical production lines globally. The new lease represents an expansion from the company’s former location on Cambridge Drive. David Creiner and Corey Chase of Newmark represented the tenant in the lease transaction. Elk Grove Technology Park is a 600,000-square-foot industrial park that includes bike and walking paths. Brennan Investment Group is the developer of the park.

December 15, 2020

Development Leasing Activity Multifamily Utah Video Webinar Western

Webinar: What will Salt Lake City Multifamily Activity Look Like in 2021?

by Sarah Daniels December 14, 2020

The Dec. 7, two-part webinar “What will Salt Lake City Multifamily Activity Look Like in 2021?“, hosted by Western Real Estate Business, allowed industry experts to discuss development pipeline, investor appetite and trends in the apartment sector. Watch for an in-depth discussion from the first panel on broker/lender thoughts on pricing, timing for investment and trends in the multifamily market. The second panel is devoted to analysis from developers, covering perspectives on design, technical considerations and financial concerns. What can Salt Lake City brokers and developers expect in 2021? See below for a list of some important topics covered. Panel One: Broker/Lender Insight Valuations Equity Permanent market impacts from COVID-19 Lender underwriting Cooperation from municipalities Panel Two: Developer Insight Tenants moving into Utah Location hotspots for developers Occupancy rates Opportunity zones Unit size and style considerations Development Panel: Ronda Landa, First American Title (moderator) Ben Clifford, Keystone National Group Eli Mills, CBRE Rawley Nielsen, Colliers International/Utah Matt Gneiting, Gneiting Capital Kip Paul, Cushman & Wakefield Investment Panel: B.J. Laterveer, Dwell Design (moderator) Ben Lowe, Lowe Property Group Joe Baum, Hicap Management Stephen Alfandre, Urban Alfandre Thomas Vegh, SALT Development Marc Venegas, Orion Real Estate Partners Webinar sponsors: Gneiting Capital: …

December 14, 2020

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