Leasing Activity

Duke Realty Secures Two Industrial Leases Totaling 950,000 SF in Cranbury, New Jersey

by Taylor Williams December 11, 2020

CRANBURY, N.J. — Duke Realty, an Indianapolis-based REIT, has secured two industrial leases totaling 950,000 square feet in Cranbury, located in the north-central part of the state. Cooper Electric signed a lease for 650,000 square feet at 315 Half Acre Road, and logistics firm Comptree inked a deal for 300,000 square feet at the adjacent facility at 311 Half Acre Road. Both buildings feature 38-foot clear heights and two drive-in doors. Mindy Lissner, William Waxman, David Gheriani, Robert Pine and Kevin Dudley of CBRE represented Duke Realty in the lease negotiations. Jules Nissim of Cushman & Wakefield represented Cooper Electric, while Richard Marchisio and Drew Maffey of Lee & Associates represented Comptree.

December 11, 2020

Illinois Industrial Leasing Activity Midwest

Costco-Innovel Solutions Signs 111,909 SF Industrial Lease at Bridge Point Itasca

by Kristin Harlow December 11, 2020

ITASCA, ILL. — Costco-Innovel Solutions has signed a long-term lease to occupy 111,909 square feet of Building I at Bridge Point Itasca, a three-building, 741,162-square-foot industrial campus in Itasca. Costco will use the facility for last-mile distribution of consumer products. The company will begin occupying the space immediately while the developer, Bridge Development Partners, continues to build out the interior space. Bridge Point Itasca is now 65 percent leased. It was completed this summer. Chris Nelson and Jeffrey Janda of Lee & Associates represented Bridge in the lease transaction. Chris Lydon and Brian Pomorski of Avison Young represented Costco, which acquired logistics company Innovel Solutions earlier this year.

December 11, 2020

Florida Leasing Activity Retail Southeast

Owners of CocoWalk in Miami Welcome Eight New Retailers to Tenant Roster

by Alex Tostado December 10, 2020

MIAMI — Federal Realty Investment Trust, The Comras Co. and Grass River Property have welcomed eight new retailers to their CocoWalk development in Miami’s Coconut Grove neighborhood. The three retailers that recently opened are vegetarian restaurant Planta Queen and women’s clothing and accessory retailers Free People Movement and Edite Mode. The five retailers that are expected to open this month are men’s beachwear retailer Europann, Mr. 01 Extraordinary Pizza, shoe retailer Sportive, Edward Beiner Eyewear and music store The School of Rock. The retail space at CocoWalk spans 150,000 square feet and surrounds the project’s courtyard. CocoWalk also includes a five-story, 185,762-square-foot office building that is 85 percent leased to tenants including Boyne Capital and American Land Ventures LLC.

December 10, 2020

Leasing Activity Massachusetts Northeast Retail

Market Basket Opens 69,374 SF Grocery Store in Maynard, Massachusetts

by Taylor Williams December 9, 2020

MAYNARD, MASS. — Market Basket has opened a 69,374-square-foot grocery store within Maynard Crossing on the western outskirts of Boston. The 730,000-square-foot mixed-use development is home to other retail tenants such as Eco Nails & Spa, Planet Fitness and Maynard Wine & Spirits. Capital Group Properties broke ground on the property in 2019. Other uses include The Vue at Maynard Crossing, a 180-unit multifamily community; Camellia Gardens, a 143-unit seniors housing community; Emerson Hospital Urgent Care; and outdoor spaces such as a dog park, walking paths and green space.

December 9, 2020

Georgia Leasing Activity Retail Southeast

DD’s Discounts to Occupy 17,656 SF Within Shopping Center in Metro Atlanta

by Alex Tostado December 7, 2020

DORAVILLE, GA. — DD’s Discounts has signed a lease to occupy 17,656 square feet of space within Pinetree Plaza in Doraville. A timeline for the store opening was not disclosed. Halpern Enterprises Inc. has owned, leased and managed Pinetree Plaza for more than 60 years. The 206,496-square-foot shopping center is located at 5289 Buford Highway, 16 miles northeast of downtown Atlanta. Other tenants at the center include Supermercado Chicago, LanZhou Ramen, Bo Bo Garden Asian Cuisine, Dim Sum Heaven, Mango Mango and I-CE-NY. Pinetree Plaza is also home to Mundo Hispánico, Atlanta’s largest Spanish-language newspaper, which moved into Halpern’s former office headquarters in 2018. DD’s Discounts operates 270 locations in 20 states and offers discounted apparel, accessories, footwear and home fashions.

December 7, 2020

Illinois Industrial Leasing Activity Midwest

World Wholesale Signs 27,523 SF Industrial Lease in Elmhurst, Illinois

by Kristin Harlow December 7, 2020

ELMHURST, ILL. — World Wholesale Inc., a distributor for convenience stores, has signed a 27,523-square-foot industrial lease at 845 N. Larch Ave. in Elmhurst. The recently constructed property, situated near the Chicago O’Hare International Airport, is now fully occupied. Christopher Lydon and Ryan Hanley of Avison Young represented the owner, Alpha Industrial Properties, in the lease transaction. Brian Colson and Brian Pomorski of Avison Young represented the tenant.

December 7, 2020

Leasing Activity New York Northeast Retail

Home Depot Signs 120,000 SF Retail Lease Extension in Manhattan’s Flatiron District

by Taylor Williams December 7, 2020

NEW YORK CITY — The Home Depot (NYSE: HD) has signed a 120,000-square-foot lease extension at its retail space at 28-40 W. 23rd St. in between Fifth and Sixth avenues in Manhattan’s Flatiron District. The lease keeps the Atlanta-based retailer in its location for at least 15 more years. Williams Equities owns the two-building, 561,000-square-foot property that houses the store. Michael Cohen, Andrew Roos, and Mac Roos of Colliers International represented Williams Equities in the lease negotiations. Peter Ripka of Ripco Real Estate represented Home Depot, which also signed a 20-year lease in late October to open a 120,000-square-foot store at 401 E. 61st St.

December 7, 2020

Industrial Leasing Activity Texas

Dunavant Distribution Signs 784,000 SF Industrial Lease in Metro Houston

by Taylor Williams December 4, 2020

PASADENA, TEXAS — Third-party logistics firm Dunavant Distribution Group has signed a 784,000-square-foot industrial lease at Bay Area Business Park in the eastern Houston metro of Pasadena. John Nicholson of Colliers represented the tenant in the lease negotiations. Justin Robinson and Jeff Pate of Stream Realty Partners represented the landlord, PEPF Red Bluff. The three-building property is located near Port Houston and recently underwent an expansion to become the largest single-owner industrial business park in Houston, according to the brokerage team.

December 4, 2020

103-Central-Avenue-Mount-Laurel-New-Jersey

Industrial Leasing Activity NAI New Jersey Northeast

NAI Mertz Brokers Sale of 112,000 SF Industrial Building in Mount Laurel, New Jersey

by Taylor Williams December 4, 2020

MOUNT LAUREL, N.J. — NAI Mertz has brokered the sale of a 112,000-square-foot industrial building located at 103 Central Ave. in Mount Laurel, a suburb of Philadelphia. The property features 17-foot clear heights and proximity to State Routes 38 and 73, as well as the New Jersey Turnpike. Scott Mertz and Jonathan Klear of NAI Mertz represented the seller, CoreOne Industrial LLC, in the transaction. The duo also procured the buyer, Boston-based Stag Industrial Holdings LLC.

December 4, 2020

Industrial Leasing Activity New Jersey Northeast

Colliers Negotiates 140,800 SF Industrial Sublease in Pennsauken, New Jersey

by Taylor Williams December 3, 2020

PENNSAUKEN, N.J. — Colliers International has negotiated a 140,800-square-foot industrial sublease at 500 Griffith Morgan Lane in Pennsauken, located outside Philadelphia in Southern New Jersey. Food subscription service Misfits Market, which recently relocated to a new build-to-suit facility in Delanco, New Jersey, is subleasing the space to California-based Maxon Auto Corp. The space features a clear height of 24 feet, 29 loading doors and three drive-in doors. Ian Richman and Marc Isdaner of Colliers represented Misfits Market in the transaction.

December 3, 2020

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