Leasing Activity

Avison Young Negotiates 45,700 SF in Office Leases at 1140 Avenue of the Americas in Manhattan

by Alex Patton October 22, 2019

NEW YORK CITY — Avison Young has negotiated the leasing of over 45,700 square feet of office space at 1140 Avenue of the Americas in Manhattan. Vatic Labs, a trading technology firm, signed a 12,750-square-foot new lease for its New York City headquarters. Real estate investment firm Almanac Realty Investors signed a 12,750-square-foot office lease extension and expansion, and PSL Group, a pharmaceutical research, medical education and publishing firm, signed a 12,750-square-foot office lease extension. Grace Beauty, a marketer, investor and distributor of beauty products, signed a 7,466-square-foot office lease renewal. Todd Korren, Brooks Hauf and Peter Johnson of Avison Young represented the landlord, New York City-based REIT, in each of the four lease negotiations.

October 22, 2019

Leasing Activity New York Northeast Office

Digital Reasoning Signs 5,819 Office Lease at 11 Times Square in Manhattan

by Alex Patton October 22, 2019

NEW YORK CITY — Cognitive computing services provider Digital Reasoning has signed a 5,819-square-foot office lease in Manhattan. The space is located on the 31st floor of 11 Times Square, a 1.1 million-square-foot commercial tower. The company is moving its New York City office from 853 Broadway and is expected to move into its new space by mid-November. Kyle Wainwright and Paul Ippolito of Newmark Knight Frank represented Digital Reasoning in the lease negotiations. JLL represented the landlord, SJP Properties, along with Zach Freeman on an internal basis. SJP’s project solutions team is constructing a build-to-suit boardroom for the tenant.

October 22, 2019

Illinois Industrial Leasing Activity Midwest

Pacific Surfaces Signs 40,000 SF Industrial Lease in Elk Grove Village, Illinois

by Kristin Harlow October 22, 2019

ELK GROVE VILLAGE, ILL. — Pacific Surfaces LLC has signed a 40,000-square-foot industrial lease in Elk Grove Village. The India-based granite distributor has maintained a sales office in Chicago for several years, but this is the company’s first warehouse in the United States. Located at 1300 Mark St., the single-story facility features six docks, several bridge cranes and a clear height of 22 feet. It is situated in Elk Grove Industrial Park. The new property will enable Pacific Surfaces to sell smaller quantities to a broader market. John D’Orazio of Colliers International represented Pacific Surfaces in the lease transaction.

October 22, 2019

Leasing Activity Northeast Pennsylvania Restaurant Retail

Sign of the Horse Brewery to Open 4,850 SF Pub in Hanover, Pennsylvania

by Alex Patton October 21, 2019

HANOVER, PA. — Sign of the Horse Brewery will open a 4,850-square-foot bar and pub in Hanover, located approximately 35 miles south of Harrisburg. The company will brew and serve fresh beer as well as a full food menu at 979 York St., a 12,010-square-foot cement warehouse that was redeveloped into retail space. Tenants at the property currently include Earling Chiropractic Clinic, pet cremation service Companions at Peace Inc. and apparel retailer Homefield Advantage. Nate Resh and John Birkeland of ROCK Commercial Real Estate brokered the transaction. The grand opening of the pub is slated for October 22.

October 21, 2019

Industrial Leasing Activity Texas

Premier Refrigerated Warehouse to Occupy 200,000 SF at New Cold Storage Facility Near Fort Worth

by Taylor Williams October 21, 2019

BURLESON, TEXAS — Premier Refrigerated Warehouse, a locally based provider of cold storage solutions, has inked a deal to occupy 200,000 square feet at a new facility underway in Burleson, located south of Fort Worth. Austin-based Yukon Ventures and New Jersey-based Saxum Real Estate are co-developing the 400,000-square-foot property. According to the Dallas Business Journal, the facility is valued at approximately $50 million and is expected to be complete by the fourth quarter of 2021.

October 21, 2019

Leasing Activity Office Southeast Virginia

Rolls-Royce North America to Occupy 17,000 SF for Corporate Headquarters in Northern Virginia

by Alex Tostado October 21, 2019

RESTON, VA. — Rolls-Royce North America will relocate its corporate headquarters to the fourth floor of Reston Station in early 2020. Rolls-Royce North America designs, develops, manufactures and tests jet engines for the U.S. Department of Defense and commercial aerospace markets. The company will occupy 17,000 square feet of the 16-story glass building, located at 1900 Reston Metro Plaza in Reston, 20 miles west of downtown Washington, D.C. The office tower offers amenities including multiple rooftop event and social spaces with catering kitchens, a fitness facility, multi-room conference facility and a two-story lobby on the Metro Plaza.

October 21, 2019

Leasing Activity Retail Top Stories

Hamilton Beach to Close All 160 Kitchen Collection Stores by End of 2019

by Taylor Williams October 21, 2019

GLEN ALLEN, VA. — Hamilton Beach Brands Holding Co. (NYSE: HBB) has announced that it will close all stores of its retail subsidiary, The Kitchen Collection, by the end of the year. Kitchen Collection employs approximately 800 people at 160 stores across 37 states. The company previously closed about 35 underperforming stores in an effort to maintain long-term profitability, but higher operating losses in the first half of 2019 have prompted Hamilton Beach Brands to shutter the chain entirely. “Despite our best efforts to return Kitchen Collection to profitability through footprint consolidation, further deterioration in foot traffic has lowered our outlook for the prospects of a future return to profitability and positive cash flow generation,” says Gregory Trepp, president and CEO of Hamilton Beach Brands Holding Co. Hilco Merchant Resources is handling the closing process for Kitchen Collection, which is now offering discounts and sales on a number of items like toasters, blenders and slow cookers. Conway MacKenzie is serving as financial advisor to the company. Hamilton Beach Brands is a designer, marketer and distributor of branded small electric household and specialty housewares appliances, as well as commercial products for restaurants, bars and hotels. Kitchen Collection is a national specialty …

October 21, 2019

Leasing Activity Retail Texas

Belk, T.J. Maxx Open Stores at Shops at Broad in Mansfield, Texas

by Alex Tostado October 18, 2019

MANSFIELD, TEXAS — Belk Department Store and T.J. Maxx have opened their stores at Shops at Broad, a 430,000-square-foot mixed-used development located in Mansfield, located southeast of Fort Worth. The new retail and restaurant locations will join Academy Sports + Outdoors and At Home, both of which opened in October 2018. CBRE handles leasing of the property on behalf of the owner and developer, Geyer Morris Co.

October 18, 2019

Leasing Activity Office Texas

JLL Negotiates 22,414 SF Office Lease at Pier 1 Imports Building in Fort Worth

by Alex Tostado October 18, 2019

FORT WORTH, TEXAS — JLL has negotiated a 22,414-square-foot office lease for Property Damage Appraisers at the Pier 1 Imports building in Fort Worth. The space will serve as the company’s new corporate headquarters. Michael Morgan of Hertz Investment Group, which owns the building, and Pat McDowell of JLL handled the transaction.

October 18, 2019

Florida Industrial Leasing Activity Southeast

Cushman & Wakefield Negotiates 120,590 SF Lease Within Airport North Logistics Park in Northwest Miami

by Alex Tostado October 18, 2019

MIAMI — Cushman & Wakefield has arranged a 120,590-square-foot lease for Apollo Export within Airport North Logistics Park in Miami. Apollo Export Warehouse Inc. will begin occupying the space in early 2020 and will join tenants such as Nestlé Waters North America, Marine Harvest, Neutralogistics and ECO Window Systems in the now-90 percent leased industrial park. Apollo Export will occupy space in Building 2, located at 8503 NW 80th St., 15 miles northwest of downtown Miami. Airport North Logistics Park comprises four buildings totaling 900,000 square feet. Wayne Ramoski, Gian Rodriguez and Skylar Stein of Cushman & Wakefield represented the landlord, Dallas-based L&B Realty Advisors LLP, in the lease transaction. Chris Spear of ComReal Miami-Doral represented Apollo Export.

October 18, 2019

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