On May 21, Shopping Center Business, Western Real Estate Business and California Centers magazines hosted “California Retail Reboot: How Will California’s Retail and Restaurant Sector Recover Post-Coronavirus?” Experts from California’s retail sector gathered to discuss the future of California retail and how to ensure the success of tenants and their properties. Topics discussed include the following: How will California retailers, restaurants and developers adapt? How will landlords and retail property owners support tenants and customers? What do brokers and investors need to know about the retail landscape and changes due to COVID-19? Panelists: Jonathan Lorenzen of Allen Matkins (moderator) Kyle Kavanaugh of Main + Main Howard Samuels of Samuels & Company Matthew Berger of Brixmor Property Group Jeff Kreshek of Federal Realty Investment Trust Philip D. Voorhees of CBRE Webinar sponsors: Allen Matkins is a California-based law firm with more than 200 attorneys in four major metropolitan areas of California: Los Angeles, Orange County, San Diego and San Francisco. The firm’s areas of focus include real estate, construction, land use, environmental and natural resources; corporate and securities, real estate and commercial finance, bankruptcy, restructurings and creditors’ rights, joint ventures and tax; labor, employment; and trials, litigation, risk management and alternative dispute resolution in all of …
TAMPA, FLA. — Commercial Fitness Concepts has signed a 43,474-square-foot industrial lease at Building 200 within 301 Business Center in Tampa. Building 200 offers 32-foot minimum clear heights, 180-foot truck court and an ESFR sprinkler system. With Commercial Fitness Concepts’ new lease, the building is now fully occupied, with US Venture leasing the other 127,720 square feet. Located on East Columbus Drive, 301 Business Center spans 68 acres and is situated in Tampa’s East Industrial submarket, nine miles east of downtown Tampa. John Jackson, Jessica Mizrahi and JT Faircloth of Cushman & Wakefield represented the landlord, McDonald Development, in the lease negotiations. Commercial Fitness Concepts sells new and used gym equipment for commercial use.
FRISCO, TEXAS — The University of North Texas (UNT), a public college based in Denton, has signed an office lease renewal and expansion to now occupy 56,517 square feet at Hall Office Park in Frisco, where the university also has a campus. Jim Cooksey and Garrison Efird of Newmark Knight Frank represented UNT in the lease negotiations. Kim Butler, Brad Gibson and Cynthia Cowen represented the owner and developer, Hall Group, on an internal basis. Hall Office Park is a 162-acre campus with more than 2 million square feet of office space housing more than 10,000 employees.
GILLETTE, N.J. — JLL has negotiated a 2,300-square-foot medical office lease for Ivy Rehab Physical Therapy in Gillette, a southwestern suburb of New York City. The tenant, a division of Ivy Rehab Network, signed a seven-year lease within Valley Mall, located at 977 Valley Road. Other tenants include HomeGoods, T.J. Maxx, Old Navy and Famous Footwear. Marta Villa of JLL represented the building owner, Croman Development Corp., in the lease negotiations. Donovan Realty, along with Corey Taber of Equity LLC, represented Ivy.
KANSAS CITY, MO. — Pharmaceutical company Nostrum Laboratories and online retailer FarmFoods have increased their footprint in Kansas City’s SubTropolis, a massive underground business complex. New Jersey-based Nostrum has expanded from 10,000 to 32,000 square feet, while FarmFoods has expanded from 6,000 to 36,000 square feet. Hunt Midwest owns SubTropolis. There is more than 6.5 million square feet of leasable space within the property.
TAMPA, FLA. — Bausch Health has signed a 127,254-square-foot industrial lease within Cabot at Aprile Farms in Tampa. Cabot at Aprile Farms comprises 390,395 square feet and offers 417 car stalls and 116 trailer drops along with dock-high loading and onsite trailer storage. The property is situated at 8963 E. Sligh Ave., near the interchange of Interstate 4 and U.S. Highway 31, nine miles northeast of downtown Tampa. John Dunphy of JLL represented the landlord, Cabot Properties, in the lease transaction. Jodie Matthews, Scott Claiborne and Peter Cecora, also with JLL, represented the tenant. Bausch Health is a Canadian-based pharmaceutical company developing, manufacturing and marketing pharmaceutical products and branded generic drugs.
MOUNT LAUREL, N.J. — NAI Mertz has negotiated a 26,740-square-foot industrial lease in Mount Laurel, an eastern suburb of Philadelphia. The tenant is an undisclosed, locally based food packaging company. The space is part of a 112,000-square-foot industrial building that is located at 103 Central Ave. The property features 17-foot clear heights and offers convenient access to Interstate 295 and the New Jersey Turnpike. Scott Mertz and Jonathan Klear of NAI Mertz represented the tenant in the lease negotiations. Core One Real Estate LLC represented the landlord, Burton Real Estate.
UPPER SADDLE RIVER, N.J. — Stumpy’s Hatchet House LLP, an entertainment concept that centers on axe-throwing, has signed a 14,194-square-foot retail lease in Upper Saddle River, approximately 30 miles northwest of New York City. The space is located in a 29,795-square-foot building at 107 Pleasant Ave that also houses The Gravity Vault, an indoor rock climbing concept. The store will be Stumpy’s sixth axe-throwing venue in New Jersey. Conor Ryan and Ryan Bednarski of JLL represented Stumpy’s in the lease negotiations. Samuel Bernhaut and Nicole Nannola of CBRE represented the landlord, Northbound Real Estate LLC.
CHICAGO — Over the last 30 days, Sterling Bay has negotiated seven office leases across four of its Chicago properties in various submarkets such as the West Loop, East Loop and Fulton Market. Precision medicine startup Tempus has expanded its 150,000-square-foot lease at 600 W. Chicago for an additional 13,000 square feet. AMC Networks has extended its lease at One Two Pru by five years. Goren Eye Associates also renewed its lease at One Two Pru for another five years. Financial technology company LQD Business Finance has signed a new lease for 8,000 square feet at 370 N. Carpenter in Fulton Market. Pinterest extended its lease at 111 N. Canal. Presidio Aircraft Leasing renewed and expanded its lease at One Two Pru to 10,000 square feet, while REX Electric & Technologies expanded its lease at One Two Pru to 11,000 square feet.
DALLAS — WorldPac Inc., a wholesale distributor of automotive parts, has signed an 11,092-square-foot industrial lease renewal at 2939-2391 Irving Blvd. in Dallas. Canon Shoults, Maddy Canty and Harrison Putt of Holt Lunsford Commercial represented the landlord, Entrada Partners, in the lease negotiations. Robin Dodson of Cushman & Wakefield represented the tenant.