Leasing Activity

Farley Building Penn District Manhattan NYC

Facebook Leases 730,000 SF of Office Space at Vornado’s Farley Building in Manhattan

by John Nelson August 4, 2020

NEW YORK CITY — Facebook (Nasdaq: FB) has signed a lease to fully occupy the office portion of The Farley Building, a mixed-use project under construction in Manhattan. The landlord, Vornado Realty Trust (NYSE: VNO), is redeveloping the historic property, which was formerly the James A. Farley Post Office Building. The social media giant will occupy 730,000 square feet in the building. A timeline for the move-in and the number of employees moving into Farley was not disclosed. “The Farley Building will further anchor our New York footprint and create a dedicated hub for our tech and engineering teams,” says Robert Cookson, Facebook’s vice president of real estate and facilities. The Farley Building spans a double-wide city block between 31st and 33rd streets and 8th and 9th avenues. The property is part of Vornado’s Penn District development. Vornado owns more than 10 million square feet in Penn District, which is undergoing a $2 billion redevelopment, not including infrastructure and transit improvements by City of New York totaling $3 billion. Penn District includes the Farley Building, Penn 1 and Penn 2, all of which are under construction. Penn 1 and 2 are redevelopments of One Penn Plaza and Two Penn Plaza, …

August 4, 2020

Leasing Activity Office Texas

Ad Agency Signs 13,000 SF Office Lease at M-K-T Mixed-Use Development in Houston

by Taylor Williams August 3, 2020

HOUSTON — Locally based advertising agency Decode has signed a 13,000-square-foot office lease at M-K-T, a mixed-use development in The Heights neighborhood of Houston. Triten Real Estate Partners, Radom Capital and Long Wharf Capital are the co-developers of M-K-T. Bubba Harkins and Jenny Mueller of JLL represented the development team in the lease negotiations. Joe Rambin of Cushman & Wakefield represented the tenant. With the closing of this deal, the office component of the project is 50 percent preleased.

August 3, 2020

Leasing Activity New Jersey Northeast Retail

Burlington to Open 47,000 SF Store at Former Sports Authority Space in Secaucus, New Jersey

by Taylor Williams August 3, 2020

SECAUCUS, N.J. — Burlington has open a 47,000-square-foot store at a space formerly occupied by Sports Authority at Mill Creek at Harmon Meadow in Secaucus, located just across the Hudson River from Manhattan. New Jersey-based Levin Management Corp. represented the landlord in the lease negotiations. The representative of the tenant was not disclosed.

August 3, 2020

Colorado Development Industrial Leasing Activity Western

PepsiCo Signs 283,500 SF Prelease at Pecos Logistics Park Project in Central Denver

by Amy Works August 3, 2020

DENVER — PepsiCo Beverages North America has signed a 283,500-square-foot lease at Pecos Logistics Park, an infill logistics business park currently under construction in Denver. Denver-based Westfield Co. is developing the project, which will feature a total of 1.2 million square feet of Class A industrial space situated on 66 acres at the northwest corner of 56th Avenue and Pecos Street at full build-out. Totaling 391,600 square feet, the first phase includes three front-park, rear-load speculative buildings ranging from 121,800 square feet to 139,200 square feet and the PepsiCo 283,500-square-foot build-to-suit property. The buildings will offer dock-high and drive-in loading, 28-foot to 32-foot clear heights, ESFRK-17 sprinklers, LED lighting and trailer parking. Phase I is scheduled for delivery in third-quarter 2021, with an 1,880-square-foot speculative suite in Building 1 and a 1,550-square-foot speculative suite in Building 2. Additionally, the first phase will feature a shared amenity space called “The Junction” that will include conference and training rooms, a kitchen, flexible use/fitness space and showers, bike storage and outdoor patio space. The second phase will include three front-park, rear-load buildings totaling 471,000 square feet. Tyler Carner, Jeremy Ballenger and Kyle McClure of CBRE’s Denver office represented Westfield, while Jim Bolt and …

August 3, 2020

Leasing Activity New York Northeast Retail

Polestar Signs Lease for 4,000 SF Electric Vehicle Pop-Up Showroom in Manhattan

by Taylor Williams July 31, 2020

NEW YORK CITY — Polestar, the electric car manufacturing division of Volvo, has signed a lease for a 4,000-square-foot showroom at 5 E. 59th St. in Manhattan. Polestar, which has also opened pop-up showrooms in Los Angeles and San Francisco, will use the space to educate consumers about electric vehicles. Visitors can also schedule test drives and configure their own Polestar vehicle at the showroom’s digital atelier table. Andrew Kahn and Christian Stanton of Cushman & Wakefield represented the landlord, Capstone Equities, in the lease negotiations. Jason Greenstone, also with Cushman & Wakefield, represented Polestar.

July 31, 2020

Leasing Activity Restaurant Retail Texas

Toasted Yolk Café Opens Two Restaurants in Metro Houston

by Taylor Williams July 31, 2020

KATY AND CYPRESS, TEXAS — Breakfast eatery The Toasted Yolk Café has opened two new restaurants in the Houston area, one at The Crossing at Katy Fulshear on the western side of town and one at Cypress Mill Village in the northwestern suburbs. Toasted Yolk Café now operates 14 restaurants in the Houston area. Paul Vernon and Campbell Vise of Henry S. Miller represented the restaurant in its site selection and lease negotiations.

July 31, 2020

Industrial Leasing Activity NAI Texas

NAI Partners Negotiates 9,600 SF Industrial Sublease in West Houston

by Taylor Williams July 31, 2020

HOUSTON — NAI Partners has negotiated a 9,600-square-foot industrial sublease at 3402 Bacor Road in west Houston. According to LoopNet Inc., the property was built in 2017. Chris Caudill and Griff Bandy of NAI Partners represented the subtenant, SES Subsea Engineering Solutions, in the lease negotiations. CBRE represented the sublessor, DNV GL USA Inc.

July 31, 2020

Illinois Leasing Activity Midwest Office

Wildlife Conservation Nonprofit Renews 8,373 SF Office Lease in Chicago

by Kristin Harlow July 31, 2020

CHICAGO — Openlands, a wildlife conservation nonprofit organization, has renewed its 8,373-square-foot office lease at 25 East Washington in Chicago. Openlands occupies space on the 16th floor and has resided in the building for over 20 years. Jonathan Seeley and Merrick Wells of Bradford Allen represented the tenant in the lease transaction. Aspire Properties is the landlord for the 22-story office building. Founded in 1963 as a program of the Welfare Council of Metropolitan Chicago, Openlands is one of the oldest metropolitan conservation organizations in the nation. It has helped to protect more than 55,000 acres of land for public parks, forest preserves, wildlife refuges, urban farms and community gardens in northeastern Illinois.

July 31, 2020

Leasing Activity Midwest Missouri Restaurant Retail

Napoli III to Join Tenant Lineup at Streets of St. Charles in Suburban St. Louis

by Kristin Harlow July 31, 2020

ST. CHARLES, MO. — Napoli III will join the tenant lineup at Streets of St. Charles, a 27-acre mixed-use development owned by Cullinan Properties in suburban St. Louis. Napoli III is the third restaurant from the Pietoso family and an extension of the family’s original Café Napoli. The new restaurant will occupy 4,500 square feet and feature a private room as well as outdoor dining. The menu will offer fresh seafood and pasta as well as favorites such as the veal chop and penne a la vodka. Buildout of the space for Napoli III is set to begin in August. An opening date has not yet been released.

July 31, 2020

Florida Industrial Leasing Activity Southeast

Cushman & Wakefield Arranges 92,550 SF Industrial Lease in Metro Miami

by Alex Tostado July 30, 2020

MEDLEY, FLA. — Cushman & Wakefield has arranged a 92,550-square-foot industrial lease at Medley 104 Industrial Center in Medley. The landlord, Lincoln Property Co., recently completed a $6.5 million renovation at the 263,131-square-foot property. Medley 104 is situated at 9400 NW 104th St., 10 miles northwest of Miami International Airport and 15 miles northwest of the Port of Miami. Wayne Ramoski, Gian Rodriguez and Skylar Stein of Cushman & Wakefield represented the landlord in the lease negotiations. Matt Maciag, Brian Smith and Audley Bosch of JLL represented the tenant, U.S. PLY Inc., a Fort Worth, Texas-based commercial roofing manufacturer. The multi-tenant property was formerly the distribution headquarters for CVS. Artefacto occupies 98,478 square feet at Medley 104 and the remaining 72,103 square feet is vacant.

July 30, 2020

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