Leasing Activity

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

Illinois Industrial Leasing Activity Midwest

Methods Machine Tools Inks 36,000 SF Industrial Lease in Suburban Chicago

by Kristin Harlow December 14, 2020

GILBERTS, ILL. — Methods Machine Tools Inc. has signed a 36,000-square-foot industrial lease at 70 Prairie Parkway in Gilberts, a northwest suburb of Chicago. The tenant, which is relocating from 2400 Vantage Drive in Elgin, will more than double its space. Dan Brown of Brown Commercial Group represented both the tenant and the landlord, Cratos LLC. Methods is a North American supplier of precision machine tools and automation. The company maintains 10 showrooms and technical centers across the U.S. and expects to take occupancy of the Gilberts facility in March.

December 14, 2020

Leasing Activity Office Texas

CBRE Negotiates 103,750 SF Office Lease Expansion for Peloton in Plano

by Taylor Williams December 14, 2020

PLANO, TEXAS — CBRE has negotiated a 103,750-square-foot office lease expansion for interactive fitness company Peloton at the 85-acre Legacy Central campus in Plano. Peloton, which moved into the building in 2018, is essentially quadrupling its original footprint and now occupies 131,268 square feet at the property. Michael Conner and Baron Aldrine of CBRE represented Peloton in the lease negotiations. Nathan Durham and Duane Henley of Transwestern represented the landlord, Regent Properties. Peloton reported sales growth of 232 percent in its most recent fiscal quarter, and the company’s stock price is up more than 300 percent for the year as consumers have sought alternative ways of exercising amid COVID-19.

December 14, 2020

Industrial Leasing Activity Texas

KBR Wyle Services Signs 13,000 SF Industrial Lease at TexAmericas Center

by Taylor Williams December 11, 2020

NEW BOSTON, TEXAS — California-based KBR Wyle Services LLC has signed a 13,000-square-foot industrial lease in New Boston, located near the Texas-Arkansas border. The space is located at 133 Miller St. within TexAmericas Center, an industrial park that houses about 12,000 development-ready acres and 3 million square feet of commercial and industrial space at the site of a former military complex. KBR’s lease term is 24 months. The tenant expects to create five jobs and invest $4.5 million in the local economy.

December 11, 2020

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