Leasing Activity

Cornerstone Business Park in Suburban Cleveland Reaches Full Occupancy

by Kristin Harlow July 23, 2020

TWINSBURG, OHIO — Cornerstone Business Park in Twinsburg, a southern suburb of Cleveland, is now fully leased. Lowe’s will lease 180,000 square feet within the park’s most recently delivered asset, a 276,000-square-foot speculative building at 8601 Independence Parkway. Lowe’s will use the space as a distribution center. Terry Coyne of Newmark Knight Frank represented the owners and developers, Scannell Properties and DiGeronimo Cos. JLL represented Lowe’s. Cornerstone Business Park is located on the site of the former 1.8 million-square-foot Chrysler stamping plant. Scannell plans to add a final 279,000-square-foot speculative building at the park. Other tenants at Cornerstone include FedEx, Amazon, O’Reilly’s Auto Parts and Bridgestone.

July 23, 2020

Illinois Industrial Leasing Activity Midwest

Kenco Logistics Signs 381,874 SF Industrial Lease in Shorewood, Illinois

by Kristin Harlow July 23, 2020

SHOREWOOD, ILL. — Kenco Logistics Services has leased 381,874 square feet of industrial space at Heartland Corporate Center in Shorewood, about 10 miles west of Joliet. Heartland Corporate Center is a 757,880-square-foot warehouse located at 21530 SW Frontage Road. Chattanooga, Tenn.-based Kenco, a privately held third-party logistics firm, expects to take occupancy in December once interior improvements are completed. David Bercu and Matthew Stauber of Colliers International represented ownership, HSA Commercial Real Estate and Clarion Partners LLC. Sean Henrick of Cushman & Wakefield represented Kenco. Now fully leased, Heartland Corporate Center features a clear height of 36 feet, 108 truck docks and 240 car parking spaces. The other tenant is DSC Logistics.

July 23, 2020

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Negotiates 91,580 SF Industrial Lease in Plano

by Taylor Williams July 22, 2020

PLANO, TEXAS — Lee & Associates has negotiated a 91,580-square-foot industrial lease at 901 Jupiter Road in Plano. According to LoopNet Inc., the property was built in 1979, renovated in 2000 and spans 143,819 square feet. George Tanghongs and Brett Lewis of Lee & Associates represented the landlord, Jupiter Star LLC, in the lease negotiations. Nathan Lawrence of CBRE represented the tenant, Telemar Network Technology Inc., a provider of infrastructure for the telecommunications industry.

July 22, 2020

Development Florida Leasing Activity Office Retail Southeast

Parkway, KKR Complete $10M Renovation of Brickell Miami Office Tower, Sign Three Retail Tenants

by Alex Tostado July 22, 2020

MIAMI — Parkway Real Estate Services LLC and joint venture partner KKR have completed their $10 million renovation of Sabadell Financial Center, a 30-story, 524,000-square-foot office tower in Miami’s Brickell district. The waterfront property overlooks Biscayne Bay. Parkway Real Estate and KKR acquired the property for $250 million in 2018 and immediately commenced renovation plans. Upgrades included redesigning the entrance and renovating the lobby, as well as adding enhanced cellphone signal technology, meeting and entertainment spaces and a rooftop deck with space for fitness classes. The landlords also signed three retail tenants — Vice City Bean, Carrot Express and Fitbox Method — to occupy space on the ground level. This marks the third location for the locally owned Vice City Bean coffeehouse; the eighth location for Carrot Express, a healthy, fast-casual restaurant; and the second location for Fitbox Method, a fitness studio offering a mix of cardio and boxing training. Jonathan Carter and Jenny Gefen of Colliers International represented the landlords in all three retail transactions. Sabadell Financial Center was built in 2000 and is located at 1111 Brickell Ave., one mile south of downtown Miami. The asset features 8,000 square feet of ground-level retail space, a 26,000-square-foot amenity deck …

July 22, 2020

Leasing Activity New York Northeast Office

Tishman Speyer Opens Two New Coworking Spaces in Manhattan

by Taylor Williams July 22, 2020

NEW YORK CITY — Locally based investment firm Tishman Speyer is expanding its coworking brand Studio with the opening of two new locations at Rockefeller Center’s 1230 Avenue of the Americas and 300 Park Avenue in Manhattan. The space at 1230 Avenue of the Americas spans 110,000 square feet across four floors, and the space at 300 Park Avenue spans 32,000 square feet. Studio features include private offices of varying sizes, videoconferencing facilities, onsite childcare and medical services and virtual wellness and fitness programs. Tishman Speyer first introduced the concept at Rockefeller Center in 2018, achieving full occupancy within the first five months of opening.

July 22, 2020

Leasing Activity New York Northeast Office

Keller Williams Signs 20,000 SF Office Sublease at 99 Park Avenue in Manhattan

by Taylor Williams July 22, 2020

NEW YORK CITY — Realtor Keller Williams has subleased 20,000 square feet of office space at 99 Park Avenue in Manhattan from Gould Paper Corp. Helmsley Spear owns the Class A building, which is located between 39th and 40th streets in the Midtown area. Kent Swig, Andrew Simon and Brett Zelner negotiated the sublease for Helmsley Spear on an internal basis. Edward Kalisvaart represented Keller Williams, also on an internal basis. The sublease term runs through December 2023.

July 22, 2020

Indiana Industrial Leasing Activity Midwest

Amazon Leases 530,400 SF Within Indiana Industrial Park

by Kristin Harlow July 22, 2020

WHITELAND, IND. — Amazon has leased a newly constructed, 530,400-square-foot industrial building within Whiteland Exchange in suburban Indianapolis. The 2.4 million-square-foot industrial business park is located at I-65 and Whiteland Road. Avison Young is the exclusive listing agent for the 167-acre development. Sean McHale and Peter Seoane of Avison Young represented the developer, Jones Development Co. in the new lease with Amazon. With the completion of this lease, Jones plans to begin its next speculative project at Whiteland Exchange.

July 22, 2020

Industrial Leasing Activity Texas

Majestic Signs Amazon to 308,000 SF Industrial Lease at Kyle Crossing in Metro Austin

by Taylor Williams July 21, 2020

KYLE, TEXAS — Amazon has signed a lease to occupy a roughly 308,000-square-foot facility at Kyle Crossing Business Park in metro Austin, where the e-commerce giant will operate a sortation facility that will employ as many as 200 people. Majestic Realty, a developer based in Southern California, is the owner of the 40-acre Kyle Crossing Business Park, which is located just one block west of Interstate 35. The news follows Amazon’s announcement to open an 820,000-square-foot distribution center in Pflugerville, a northern suburb of Austin.

July 21, 2020

Industrial Leasing Activity Texas

Holt Lunsford Negotiates 8,346 SF Industrial Lease in Irving

by Taylor Williams July 21, 2020

IRVING, TEXAS — Holt Lunsford Commercial has negotiated an 8,346-square-foot industrial lease at 8080 Tristar Drive in Irving. According to LoopNet Inc., the property was built in 1980 and totals 137,237 square feet. Canon Shoults, Josh Barnes and Maddy Canty with Holt Lunsford Commercial represented the landlord, KFG Investments, in the lease negotiations. Elizabeth Jones with JLL represented the tenant, Progressive Healthcare Solutions LLC.

July 21, 2020

Leasing Activity New York Northeast Office

Insurance Giant AIG to Relocate Global Headquarters to Manhattan

by Taylor Williams July 21, 2020

NEW YORK CITY — Insurance giant American International Group (AIG) will relocate its global headquarters to 1271 Avenue of the Americas, a 48-story office building in Manhattan that was recently redeveloped. The move calls for AIG to consolidate its two regional offices at 28 Liberty St. in Manhattan and 30 Hudson St. in nearby Jersey City. The company plans to take occupancy of its new space, which will span eight floors and 325,000 square feet, in 2021. Rockefeller Group owns 1271 Avenue of the Americas.

July 21, 2020

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