Leasing Activity

MCB, Artemis Real Estate Acquire Distribution Center Near Baltimore in $65M Sale-Leaseback Deal with Rite Aid

by Alex Tostado November 20, 2020

ABERDEEN, MD. — A joint venture between MCB Real Estate LLC and Artemis Real Estate Partners has acquired an 890,000-square-foot distribution center in Aberdeen for $65 million. A subsidiary of Rite-Aid fully leases the center, which serves as a distribution hub for more than 1,200 Rite-Aid locations across the Northeast. Rite-Aid sold the warehouse to the joint venture in a sale-leaseback transaction. The asset is situated at 601 Chelsea Road, 35 miles northeast of downtown Baltimore and five miles from Interstate 95. Bill Shrader and John Van Buskirk of Lee & Associates represented the buyer in the transaction. Michael Katz of REF Advisory Inc. represented the seller.

November 20, 2020

Golden-Triangle-Logistics-North-Las-Vegas-NV

Industrial Leasing Activity Nevada Western

E-commerce Tech Company Expands to 350,528 SF Lease at Golden Triangle Logistics Center in North Las Vegas

by Amy Works November 20, 2020

NORTH LAS VEGAS, NEV. — Whitebox, a manufacturer and e-commerce marketplace and fulfillment partner for DTC brands, has expanded its lease at Golden Triangle Logistics Center in North Las Vegas. The company now occupies 350,528 square feet at the facility, located at 3049 E. Washburn Road. Baltimore-based Whitebox’s North Las Vegas facility consists of a freestanding building, which is part of Phase I of the Golden Triangle Logistics Center. Golden Triangle Industrial Park LLC is the developer of the project. Whitebox’s expansion in the Las Vegas area is reflective of the company’s growth in Southern Nevada. Revenue for Whitebox in first-quarter 2020 increased 40 percent compared to the same period in 2019 and its revenue increased another 78 percent from first-quarter 2020 to second-quarter 2020. Additionally, the company reports that its direct-to-consumer shipments soared to more than 300 percent over the first half of 2020 and had 141 percent growth year-over-year from 2018 to 2019. Golden Triangle Logistics Center is a 2.2 million-square-foot logistics/distribution project being developed on a speculative basis. Phase I will include two buildings comprising approximately 652,000 square feet with delivery slated for third-quarter 2020.

November 20, 2020

Industrial Kansas Leasing Activity Midwest

Schlage Lock Co. Renews 253,440 SF Industrial Lease in Olathe, Kansas

by Kristin Harlow November 19, 2020

OLATHE, KAN. — Schlage Lock Co. has renewed its 253,440-square-foot industrial lease at 2119 E. Kansas City Road in Olathe. Dan and Kurt Jensen of Kessinger Hunter represented the landlord, a fund managed by DRA Advisors LLC. Ed Elder of Colliers International represented Schlage, which is one of the nation’s largest producers of commercial and consumer locks. The building has convenient access to major highways and nearby logistics support services.

November 19, 2020

Georgia Leasing Activity Office Southeast

Papa John’s Selects 60,000 SF Office Space Within Battery Atlanta Development for New Headquarters

by Alex Tostado November 18, 2020

ATLANTA — Papa John’s International Inc. has selected Three Ballpark Center at The Battery Atlanta for its new regional headquarters. The Louisville, Ky.-based pizza chain expects to add 200 jobs at the 60,000-square-foot office space, which is expected to open summer 2021. Papa John’s will move its menu innovation; marketing; customer experience; human resources; diversity, equity and inclusion; communications; and development departments to The Battery. The corporate headquarters, IT, supply chain and legal teams will remain in Louisville. Located in Atlanta’s Cumberland/Galleria submarket, The Battery Atlanta is a 1.5 million-square-foot mixed-use development in Cobb County that surrounds Truist Park, home ballpark of the Atlanta Braves that opened in April 2017 as SunTrust Park. Papa John’s will be the third office headquarters within the development, joining Comcast and Thyssenkrupp North American. Braves Group, a subsidiary of Liberty Media, owns The Battery Atlanta.

November 18, 2020

Industrial Leasing Activity Michigan Midwest

Anji Logistics Expands North American Division in Roseville, Michigan with 129,021 SF Sublease

by Kristin Harlow November 18, 2020

ROSEVILLE, MICH. — Anji Logistics USA has subleased a 129,021-square-foot warehouse located at 30450 Little Mack Ave. in Roseville from Blue Bell Mattress Co. The third-party logistics provider is headquartered at a larger facility in nearby Warren. Anji Logistics USA is the North American branch of China-based automotive logistics service provider, Anji Automotive Logistics. Anji offers services such as international freight forwarding, inbound and outbound logistics, finished vehicle transportation, border transportation and warehousing management. Jason Capitani of L. Mason Capitani represented Anji in the sublease.

November 18, 2020

Leasing Activity Michigan Midwest Retail

Shopping Center in Sterling Heights, Michigan Reaches Full Occupancy with New Lease from Hanna’s Market

by Kristin Harlow November 17, 2020

STERLING HEIGHTS, MICH. — Brookside Village in Sterling Heights is now fully leased. Hanna’s Market signed a lease for the final 10,220-square-foot space at the Planet Fitness-anchored shopping center located about 25 miles north of Detroit. Hanna’s Market, which offers bakery items and fresh produce, plans to open in early 2021. Michael Murphy and Tjader Gerdom of Gerdom Realty & Investment represented the undisclosed landlord. Earlier this year, Gerdom represented the landlord in leases with Rehab Without Walls and Luma’s Fashion at the property.

November 17, 2020

Leasing Activity New Jersey Northeast Retail

Newmark Arranges $34M Sale of Retail Property Leased to Home Depot in Paterson, New Jersey

by Taylor Williams November 17, 2020

PATERSON, N.J. — Newmark has arranged the $34 million sale of a 120,000-square-foot retail building leased to Home Depot in the Northern New Jersey city of Paterson. The property is situated on 10 acres at 75 McLean Blvd. Matt Berres, Samer Khalil and Steven Schultz of Newmark represented the seller, a private family office, in the transaction. The name and representative of the institutional buyer were not disclosed.

November 17, 2020

Leasing Activity New Jersey Northeast Retail

Target to Open 101,000 SF Store in Somers Point, New Jersey

by Taylor Williams November 17, 2020

SOMERS POINT, N.J. — Target will open a 101,000-square-foot store at Somers Point Plaza, a 279,026-square-foot retail power center in Southern New Jersey. The Minneapolis-based retailer will backfill a space formerly occupied by Kmart. Richard Soloff of Soloff Realty & Development Inc. represented the landlord, Philadelphia-based Brahin Properties Inc., in the lease negotiations. Other tenants at Somers Point Plaza include CME Markets, PetSmart, West Marine, Big Lots, Verizon Wireless and Chipotle Mexican Grill.

November 17, 2020

Leasing Activity Retail Texas

Cowboys Fit Opens 57,000 SF Fitness Center in Pflugerville, Texas

by Taylor Williams November 16, 2020

PFLUGERVILLE, TEXAS — Cowboys Fit, a concept that brings the fitness equipment and programs of the Dallas Cowboys to regular users, has opened a 57,000-square-foot facility in the northern Austin suburb of Pflugerville. The space is located at 1401 Town Center Drive and features a basketball court, indoor pool, outdoor training area and a childcare area. Members also have access to boutique-style fitness classes like yoga, spin, barre and circuit training.

November 16, 2020

Leasing Activity New York Northeast Office

Swann Galleries Signs 21,200 SF Office Lease Renewal in Manhattan

by Taylor Williams November 16, 2020

NEW YORK CITY — Auction house Swann Galleries has signed a 21,200-square-foot office lease renewal at Gramercy Park, a 114,146-square-foot office building located at 104 E. 25th St. in Manhattan. Nicky Heryet, Susan Kahaner, Jennifer Ogden and Eric Sznip of Avison Young represented the tenant, which will continue to occupy the fifth and sixth floors, in the lease negotiations. Michael Berger of Colliers International represented the landlord, 25 Park LLC.

November 16, 2020

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