Leasing Activity

Arts & Crafts Retailer Michaels to Relocate Office Headquarters to 123,740 SF Space in Irving

by Taylor Williams July 24, 2020

IRVING, TEXAS — Michaels, a chain retailer that sells art supplies, hobby accessories and home décor goods, will relocate its office headquarters to a 123,740-square-foot space at Royal Ridge III in Irving. Michaels, which has operated out of Irving since 2002, will occupy the entirety of the Class A building. John Brownlee and Michael Williams of JLL represented the landlord, Accesso, in the lease negotiations. Jamie Jennings of Stream Realty Partners and Damian Rivera of ESRP represented Michaels. A timeline for the relocation was not disclosed.

July 24, 2020

Illinois Industrial Leasing Activity Midwest

Georgia Nut Co. Renews 123,000 SF Industrial Lease in Skokie, Illinois

by Kristin Harlow July 24, 2020

SKOKIE, ILL. — Georgia Nut Co., a manufacturer of nuts and candy, has renewed its 123,000-square-foot industrial lease at 7500 Linder Ave. in Skokie. The industrial food processing facility features eight docks, 9,000 square feet of office space, a retail store and a clear height of 23 feet. Ned Frank and Pat Hake of Colliers International represented the owner, LINK. The lease enables Georgia Nut to receive tenant improvements for its operations.

July 24, 2020

Leasing Activity New Jersey Northeast Office

Brother International Signs 101,724 SF Office Lease Extension in Bridgewater, New Jersey

by Taylor Williams July 24, 2020

BRIDGEWATER, N.J. — Brother International Corp., a provider of home office and business products, has signed a 101,724-square-foot office lease extension at 200 Bridgewater Crossing on the western outskirts of New York City. Atlanta-based Piedmont Office Realty Trust owns the 299,000-square-foot building, which was built in 2002 and offers a café, fitness center, conference center and an onsite helipad. Andrew Zezas, Scott Lesh and Brian Davidson of JLL represented Brother International in the lease negotiations. William McCaffrey of Avison Young represented the landlord.

July 24, 2020

Industrial Leasing Activity New Jersey Northeast

CBRE Negotiates 95,808 SF Industrial Lease in Jersey City

by Taylor Williams July 24, 2020

JERSEY CITY, N.J. — CBRE has negotiated a 95,808-square-foot industrial lease at 79 Thomas McGovern Drive in Jersey City, a western suburb of New York City. The property sits on five acres and offers 36-foot clear heights, 87 parking spaces, 2,000 square feet of office space and an ESFR sprinkler system. Thomas Monahan, Stephen D’Amato, Larry Schiffenhaus, Anastasia Lazarides, Lauren Hageman, Gerard Monahan and Brian Fiumara of CBRE represented the landlord, California-based CT Realty, in the lease negotiations. The tenant, an undisclosed international e-commerce firm, will occupy the entirety of the building.

July 24, 2020

Industrial Leasing Activity Texas

Vertical Farming Company Signs 83,436 SF Industrial Lease at Parc Air 59 in Metro Houston

by Taylor Williams July 23, 2020

HUMBLE, TEXAS — Kalera, a Florida-based vertical farming company, has signed an 83,436-square-foot industrial lease to be the first tenant at Parc Air 59, a 279,500-square-foot development in the northern Houston suburb of Humble by Jackson-Shaw. The company will occupy the entirety of Building A, a rear-load property that is nearing completion and that features 28- to 32-foot clear heights, 130-foot truck courts and an ESFR sprinkler system. Mike Spears and Derek Riggleman of Lee & Associates represented Kalera in the lease negotiations. Jason Dillee and Nathan Wynne of Cushman & Wakefield represented Jackson-Shaw.

July 23, 2020

Industrial Leasing Activity Midwest Ohio

Cornerstone Business Park in Suburban Cleveland Reaches Full Occupancy

by Kristin Harlow July 23, 2020

TWINSBURG, OHIO — Cornerstone Business Park in Twinsburg, a southern suburb of Cleveland, is now fully leased. Lowe’s will lease 180,000 square feet within the park’s most recently delivered asset, a 276,000-square-foot speculative building at 8601 Independence Parkway. Lowe’s will use the space as a distribution center. Terry Coyne of Newmark Knight Frank represented the owners and developers, Scannell Properties and DiGeronimo Cos. JLL represented Lowe’s. Cornerstone Business Park is located on the site of the former 1.8 million-square-foot Chrysler stamping plant. Scannell plans to add a final 279,000-square-foot speculative building at the park. Other tenants at Cornerstone include FedEx, Amazon, O’Reilly’s Auto Parts and Bridgestone.

July 23, 2020

Illinois Industrial Leasing Activity Midwest

Kenco Logistics Signs 381,874 SF Industrial Lease in Shorewood, Illinois

by Kristin Harlow July 23, 2020

SHOREWOOD, ILL. — Kenco Logistics Services has leased 381,874 square feet of industrial space at Heartland Corporate Center in Shorewood, about 10 miles west of Joliet. Heartland Corporate Center is a 757,880-square-foot warehouse located at 21530 SW Frontage Road. Chattanooga, Tenn.-based Kenco, a privately held third-party logistics firm, expects to take occupancy in December once interior improvements are completed. David Bercu and Matthew Stauber of Colliers International represented ownership, HSA Commercial Real Estate and Clarion Partners LLC. Sean Henrick of Cushman & Wakefield represented Kenco. Now fully leased, Heartland Corporate Center features a clear height of 36 feet, 108 truck docks and 240 car parking spaces. The other tenant is DSC Logistics.

July 23, 2020

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Negotiates 91,580 SF Industrial Lease in Plano

by Taylor Williams July 22, 2020

PLANO, TEXAS — Lee & Associates has negotiated a 91,580-square-foot industrial lease at 901 Jupiter Road in Plano. According to LoopNet Inc., the property was built in 1979, renovated in 2000 and spans 143,819 square feet. George Tanghongs and Brett Lewis of Lee & Associates represented the landlord, Jupiter Star LLC, in the lease negotiations. Nathan Lawrence of CBRE represented the tenant, Telemar Network Technology Inc., a provider of infrastructure for the telecommunications industry.

July 22, 2020

Development Florida Leasing Activity Office Retail Southeast

Parkway, KKR Complete $10M Renovation of Brickell Miami Office Tower, Sign Three Retail Tenants

by Alex Tostado July 22, 2020

MIAMI — Parkway Real Estate Services LLC and joint venture partner KKR have completed their $10 million renovation of Sabadell Financial Center, a 30-story, 524,000-square-foot office tower in Miami’s Brickell district. The waterfront property overlooks Biscayne Bay. Parkway Real Estate and KKR acquired the property for $250 million in 2018 and immediately commenced renovation plans. Upgrades included redesigning the entrance and renovating the lobby, as well as adding enhanced cellphone signal technology, meeting and entertainment spaces and a rooftop deck with space for fitness classes. The landlords also signed three retail tenants — Vice City Bean, Carrot Express and Fitbox Method — to occupy space on the ground level. This marks the third location for the locally owned Vice City Bean coffeehouse; the eighth location for Carrot Express, a healthy, fast-casual restaurant; and the second location for Fitbox Method, a fitness studio offering a mix of cardio and boxing training. Jonathan Carter and Jenny Gefen of Colliers International represented the landlords in all three retail transactions. Sabadell Financial Center was built in 2000 and is located at 1111 Brickell Ave., one mile south of downtown Miami. The asset features 8,000 square feet of ground-level retail space, a 26,000-square-foot amenity deck …

July 22, 2020

Leasing Activity New York Northeast Office

Tishman Speyer Opens Two New Coworking Spaces in Manhattan

by Taylor Williams July 22, 2020

NEW YORK CITY — Locally based investment firm Tishman Speyer is expanding its coworking brand Studio with the opening of two new locations at Rockefeller Center’s 1230 Avenue of the Americas and 300 Park Avenue in Manhattan. The space at 1230 Avenue of the Americas spans 110,000 square feet across four floors, and the space at 300 Park Avenue spans 32,000 square feet. Studio features include private offices of varying sizes, videoconferencing facilities, onsite childcare and medical services and virtual wellness and fitness programs. Tishman Speyer first introduced the concept at Rockefeller Center in 2018, achieving full occupancy within the first five months of opening.

July 22, 2020

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