Leasing Activity

Logistics Firm Signs 131,718 SF Industrial Lease at New Facility in Laredo, Texas

by Taylor Williams June 10, 2020

LAREDO, TEXAS — Freight Dispatch Service Agency Ltd. has signed a 131,718-square-foot industrial lease to occupy the entirety of I-35 Logistics Center, a speculative development located in the Rio Grande Valley city of Laredo. Construction of the property, which features 32-foot clear heights, 73 trailer parking spaces and an ESFR sprinkler system, began in August 2019 and was completed in April. Josh Aguilar of CBRE represented the owner and developer, a partnership between Fort Worth-based Tailwind Real Estate Equities and Gulf Corp., in the lease negotiations. Joey Ferguson of NAI Swisher & Martin Realty represented the tenant.

June 10, 2020

Leasing Activity New York Northeast Office

Colliers Negotiates 12,724 SF Office Lease in Midtown Manhattan

by Alex Patton June 9, 2020

NEW YORK CITY — Colliers International has negotiated a 12,724-square-foot office lease for independent life insurance brokerage firm Winged Keel Group in Midtown Manhattan. The space is located on the 44th floor of One Grand Central Place, a 52-story, 1.2 million-square-foot office building at 122 East 42nd St. Other tenants include JPMorgan Chase, First Republic Bank and Charles Schwab. Reid Longley and Robert Kennedy of Colliers International represented Winged Keel Group in the lease negotiations. Julie Christiano and Leslie Nadel represented the landlord, Empire State Realty Trust Inc., on an internal basis along with William Cohen, Scott Klau, Erik Harris and Neil Rubin of Newmark Knight Frank.

June 9, 2020

Leasing Activity Net Lease Northeast Pennsylvania Retail

Marcus & Millichap Arranges Sale of 4,147 SF Net-Leased Retail Property in Hereford, Pennsylvania

by Alex Patton June 9, 2020

HEREFORD, PA. — Marcus & Millichap has arranged the $1.9 million sale of a 4,147-square-foot net-leased retail property in Hereford, approximately 50 miles northwest of Philadelphia. Turkey Hill Minit Market is the tenant. Located at 3664 Seisholtzville Road, the property was constructed in 1991 and offers proximity to State Route 100. Derrick Dougherty and Steven Garthwaite of Marcus & Millichap represented the seller, a limited liability company, in the transaction. The team also represented the buyer, another limited liability company. Both parties requested anonymity.

June 9, 2020

Industrial Leasing Activity North Carolina Southeast

Circle Graphics to Fully Occupy 153,990 SF Industrial Building in Triangle

by Alex Tostado June 9, 2020

MOORESVILLE, N.C. — Circle Graphics has signed a lease to fully occupy Woodlake 501, a 153,990-square-foot industrial building in Mooresville. The property is located at 501 Innovation Ave., equidistant to Raleigh and Durham. The large-format, digital graphics producer will move into the space in October, according to Battista Orcino, vice president of leasing and development for Duke Realty, the landlord of Woodlake 501. Ernest Packaging currently occupies the asset but its lease is expiring soon, says Orcino. Lee Holder and Chris Wiley of Colliers International represented the tenant in the lease negotiations. Larry Lakins, Hunter Willard and Andrew Young of Cushman & Wakefield represented the landlord.

June 9, 2020

Georgia Leasing Activity Office Southeast

Law Firm Signs 48,000 SF Office Lease at Bank of America Plaza in Downtown Atlanta

by Alex Tostado June 9, 2020

ATLANTA — Law firm Lewis Brisbois has signed a 48,000-square-foot office lease at Bank of America Plaza in downtown Atlanta. The company will occupy the 46th and 47th floors beginning in April 2021. Lewis Brubois, which was found in Los Angeles in 1979, is relocating its Atlanta office from 1180 Peachtree St. The landlord of Bank of America Plaza, Shorenstein Properties, recently completed a $10 million renovation to the building’s west wing that delivered modern amenities; workspace; and Marketplace 600, a 17,000-square-foot food hall. Other amenities include the 17,000-square-foot RPM Health Club & Spa, conference facilities and a Starbucks in the main lobby. Jeff Keppen and Nicole Goldsmith of CBRE represented the landlord in the transaction. Jonathan Larsen, Rick Nash, Chandler Larsen and Molly Millard of Avison Young represented the tenant.

June 9, 2020

Leasing Activity Retail Texas

Teso Life Signs 14,236 SF Retail Lease at Carrollton Town Center in Metro Dallas

by Taylor Williams June 9, 2020

CARROLLTON, TEXAS — Teso Life, a provider of Japanese beauty products, snacks and home goods, has signed a 14,236-square-foot retail lease at Carrollton Town Center on the northern outskirts of Dallas. The store, which will be the company’s first outside of its home base of New York City, is scheduled to open this fall. Heather Nguyen represented the landlord, Houston-based NewQuest Properties, in the lease negotiations on an internal basis. John Nguyen and Grace La, also with NewQuest, represented the tenant.

June 9, 2020

Leasing Activity Michigan Midwest Restaurant Retail

Captain D’s Expands into 23rd State with New Location in Michigan

by Kristin Harlow June 9, 2020

CLINTON TOWNSHIP, MICH. — Fast-casual seafood restaurant Captain D’s has opened its newest franchised location in Clinton Township, about 25 miles north of Detroit. Situated at 35134 Groesbeck Highway, the restaurant marks Captain D’s only Michigan location and expands the brand’s footprint into its 23rd state. Currently, the Clinton Township Captain D’s is open for drive-thru, call-ahead ordering for curbside pickup and delivery. The dining room will remain closed for the immediate future due to COVID-19. Detroit native and restaurant industry veteran Kirit Patel of J&D Restaurant Group LLC owns and operates the Clinton Township building, which was formerly occupied by Dunkin’. Patel has plans to develop two additional Captain D’s restaurants in metro Detroit by 2023. There are now more than 530 Captain D’s locations across 23 states.

June 9, 2020

Leasing Activity Office Texas

Avison Young Negotiates 14,206 SF Office Lease at Sage Plaza in Houston

by Taylor Williams June 9, 2020

HOUSTON — Avison Young has negotiated a 14,206-square-foot office lease in Uptown Houston for Goree Architects Inc. The tenant will relocate its headquarters from 4710 Bellaire Blvd. to Sage Plaza, located at 5151 San Felipe St. Anthony Squillante and Collin Roach of Avison Young represented the tenant in the lease negotiations. Nina Seyyedin and Jason Presley of CBRE represented the landlord, Granite Barnhart Sage Plaza LP.

June 9, 2020

Acquisitions California Leasing Activity Office Top Stories Western

PG&E to Move to Oakland, Sell San Francisco Headquarters

by John Nelson June 9, 2020

SAN FRANCISCO AND OAKLAND, CALIF. — PG&E Corp. (NYSE: PCG), parent company of West Coast utilities company Pacific Gas and Electric Co., has entered into a long-term lease at 300 Lakeside, a 824,469-square-foot office building situated along Lake Merritt in Oakland. Starting in 2022, the publicly traded firm will move away from its longtime downtown San Francisco headquarters at 77 Beale St. and 245 Market St. The company plans to sell the buildings, pending approval of the bankruptcy court. PG&E entered into bankruptcy protection in January 2019 that included a $13.5 billion settlement for approximately 70,000 victims of the Northern California wildfires in 2017 and 2018, according to the San Francisco Business Times. The company’s power lines were reported to have sparked the fires. PG&E plans to request approval from the California Public Utilities Commission to return the net gain realized upon the future sale of its San Francisco headquarters to its customers. The company currently owns and occupies roughly 1 million square feet of office space in San Francisco, according to the San Francisco Business Times. PG&E’s lease in Oakland includes a purchase option from landlord TMG Partners taking effect in 2023, the same year that PG&E plans to …

June 9, 2020

Florida Leasing Activity Office Southeast

Software Firm Chetu Opens 21,000 SF Office Headquarters in South Florida

by Alex Tostado June 8, 2020

PLANTATION, FLA. — Chetu, a provider of custom software solutions, has opened its new office headquarters in Plantation. Chetu will occupy the top floor of a three-story building located at 1248 N. University Drive, nine miles west of downtown Fort Lauderdale. As the anchor tenant, the company will occupy 21,000 of the building’s 63,600 square feet. The office building features a reception area, multiple conference rooms, a community dining area and break lounges.

June 8, 2020

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