Leasing Activity

10-50-Charles-Street-Westwood-New-Jersey

CBRE Negotiates Two Industrial Leases Totaling 67,137 SF in Westwood, New Jersey

by Taylor Williams August 20, 2020

WESTWOOD, N.J. — CBRE has negotiated two industrial leases totaling 67,137 square feet at a 120,000-square-foot industrial facility located at 10-50 Charles St. in Westwood, about 30 miles northwest of New York City. Mavi Jeans signed a lease to occupy 42,507 square feet, and print technology firm Digital Lizard inked a deal for 24,630 square feet. Kevin Dudley, Bill Waxman, Nick Klacik and Elli Klapper of CBRE represented the landlord, Treetop Development, in the lease negotiations. Treetop acquired the property, which features 14- to 22-foot clear heights, 127 car parking spaces and 10,000 square feet of office space, in November 2019.

August 20, 2020

Leasing Activity New Jersey Northeast Retail

Harmony Dispensary to Open Hoboken’s First Medical Marijuana Facility

by Taylor Williams August 20, 2020

HOBOKEN, N.J. — New Jersey-based medical marijuana provider Harmony Dispensary will open the first such facility in Hoboken, located across the Hudson River from Manhattan. The dispensary will be located within a 5,000-square-foot building at 95 Hudson St. that previously housed a primary care provider. Jersey City-based Dresdner Robin, the land-use consultant for the project, has completed the revised rezoning requirements for the site. The satellite space is expected to come on line by the end of the year.

August 20, 2020

Industrial Leasing Activity New Jersey Northeast

Flemington Pickleball Club Signs 11,200 SF Industrial Lease in New Jersey

by Taylor Williams August 20, 2020

FLEMINGTON, N.J. — Flemington Pickleball Club LLC has signed an 11,200-square-foot retail lease at 19 Royal Road in Central New Jersey. According to LoopNet Inc., the property was built on 2.3 acres in 2003 and features 21-foot clear heights. Marc Shein of NAI DiLeo-Bram represented the tenant in the lease negotiations. Pickleball is a cross between tennis, ping-pong and badminton.

August 20, 2020

Leasing Activity Office Texas

Hoover Ferguson Signs 16,603 SF Office Headquarters Lease in Metro Houston

by Taylor Williams August 20, 2020

KATY, TEXAS — Hoover Ferguson, a provider of bulk containers and chemical tanks, has signed a 16,603-square-foot office lease at Katy Ranch Office for its new corporate headquarters. Approximately 60 employees will relocate from the current headquarters building at 2135 Highway 6 S. in Houston beginning in December. Sam Hansen and Doug Pack of Avison Young represented the landlord, Freeway Properties, in the lease negotiations.

August 20, 2020

Georgia Leasing Activity Office Southeast

Zillow Group to Lease Office Space for Southeastern Regional Hub in Metro Atlanta

by Alex Tostado August 19, 2020

DUNWOODY, GA. — Seattle-based Zillow Group will open its Southeastern regional hub in Dunwoody and create 200 jobs. According to the Atlanta Business Chronicle, the online residential real estate company leased two floors at Three Ravinia Drive, a 31-story office tower in Atlanta’s Central Perimeter submarket. A majority of the jobs will support Zillow Offers, the company’s home buying program. Kristi Brigman of the Georgia Department of Economic Development represented the Global Commerce division on this project in partnership with the Metro Atlanta Chamber, Decide DeKalb and the City of Dunwoody Development Authority. According to LoopNet Inc., CBRE handles leasing efforts on behalf of the undisclosed owner. A timeline for Zillow moving into the space was not disclosed.

August 19, 2020

Leasing Activity Retail Texas

Harbor Freight Tools to Open 16,000 SF Store in Metro Austin This Week

by Taylor Williams August 19, 2020

GEORGETOWN, TEXAS — Harbor Freight Tools, a discount hardware and equipment retailer based in California, will open a 16,000-square-foot store in the northern Austin suburb of Georgetown this week. The store will be located within Republic Square, a retail center at the northeast corner of Interstate 35 and Williams Avenue that also houses tenants such as Dollar Tree, Starbucks and Chipotle Mexican Grill. Jeff Lewis and Brett Maze of Weitzman handled lease negotiations on behalf of the locally based landlord. CLD Realty represented the tenant.

August 19, 2020

Industrial Leasing Activity New Jersey Northeast

Logistics Firm Signs 124,000 SF Industrial Lease Renewal, Expansion in Randolph, New Jersey

by Taylor Williams August 18, 2020

RANDOLPH, N.J. — Third-party logistics firm Armstrong Relocation Co. has signed a 124,000-square-foot industrial lease renewal and expansion in Randolph, about 40 miles west of New York City. The company renewed its 84,000-square-foot lease at 9 Aspen Drive and also committed to an additional 40,000 square feet at the adjacent building. The company’s new space at 5 Aspen Drive features 46-foot clear heights, 12 loading docks and ample trailer parking space. Brian Wilson of Resource Realty represented Armstrong and the landlord, North Jersey Development, in the lease negotiations.

August 18, 2020

Industrial Leasing Activity New Jersey Northeast

Sheldon Gross Realty Negotiates 71,922 SF Industrial Lease in Freehold, New Jersey

by Taylor Williams August 18, 2020

FREEHOLD, N.J. — Sheldon Gross Realty has negotiated a 71,922-square-foot industrial lease at 225 Willow Brook Road in Freehold, about 30 miles east of Trenton. The property was built in 1961 and totals 180,000 square feet, according to LoopNet Inc. Glenn Jaffe of Sheldon Gross represented the tenant, EUS Imports, a locally based luggage and travel accessory dealer, in the lease negotiations. Douglas Sitar and Robert JanTausch of Sitar Realty Co. represented the undisclosed landlord.

August 18, 2020

Leasing Activity Midwest Mixed-Use Multifamily Office Ohio Retail

ACRE Provides $68.5M Refinancing for City Club Apartments in Cincinnati

by Amy Works August 18, 2020

CINCINNATI — Asia Capital Realty Estate (ACRE) has provided $68.5 million of floating-rate debt to refinance City Club Apartments. The loan, which was underwritten with a loan-to-value ratio of 63.4 percent, has a two-year term and two single-year extension options. Located at 309 Vine St. in Cincinnati, City Club Apartments is a mixed-use property featuring 294 apartments and penthouses, 31,928 square feet of office space and 17,498 square feet of retail space. The sponsor acquired the property in 2016 as a vacant office building and recently repositioned the asset into a Class A mixed-use apartment community. At the time the financing closed, 90 percent of the multifamily units were leased, 100 percent of the retail space was leased and 67 percent of the office space was occupied. Chicago-based Draper and Kramer brokered the transaction.

August 18, 2020

Industrial Leasing Activity Texas

Holt Lunsford Negotiates 19,402 SF Industrial Lease in Dallas

by Taylor Williams August 17, 2020

DALLAS — Holt Lunsford Commercial has negotiated a 19,402-square-foot industrial lease at 5440-5450 Redbird Drive in Dallas. According to LoopNet Inc., the property was built in 1987 and totals 36,102 square feet. Andrew Gilbert, John Gorman and Canon Shoults of Holt Lunsford represented the landlord, Sealy Capital Management, in the lease negotiations. Thomas Clark of Thomas Clark Investments represented the tenant, medical equipment manufacturer DLK Medical Technologies.

August 17, 2020

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