Leasing Activity

Avison Young Negotiates 77,000 SF Office Lease Renewal in Midtown Manhattan

by Alex Patton April 17, 2020

NEW YORK CITY — Avison Young has negotiated the 12-year renewal of a 77,000-square-foot office space in Midtown Manhattan for investment and technology development firm D.E. Shaw. The space spans seven floors at Tower 45, a 458,446-square-foot, Class A office building located at 120 W. 45th St. The company has leased its space in the building since 2011. Arthur Mirante II, Mitti Liebersohn and John Ryan III of Avison Young represented the landlord, Kamber Management Co., in the lease negotiations. Timothy Dempsey, Roger Griswold and Munish Viralam of CBRE represented D.E. Shaw.

April 17, 2020

Industrial Leasing Activity Texas

NKF Negotiates 390,006 SF Industrial Lease at Speedway Logistics Crossing in Fort Worth

by Taylor Williams April 17, 2020

FORT WORTH, TEXAS — Newmark Knight Frank (NKF) has negotiated a 390,006-square-foot industrial lease at Speedway Logistics Crossing in Fort Worth for AmerCareRoyal LLC, a manufacturer of disposable products for the food service and healthcare industries. Garrett Gibbons Jr. and Lucas Kay of NKF represented the tenant in the lease negotiations. CBRE represented the landlord, SPCH Fort Worth I LLC.

April 17, 2020

Ontario-Ranch-Logistics-Uline-Ontario-CA

California Industrial Leasing Activity Western

Uline Signs 1.2 MSF Lease at Ontario Ranch Logistics Center in Inland Empire

by Amy Works April 16, 2020

ONTARIO, CALIF. — Uline, a distributor of shipping, industrial and packaging materials, has signed a lease to occupy 1.2 million square feet of industrial space at Ontario Ranch Logistics Center in Ontario. Newport Beach, Calif.-based REDA and Clarion Partners, co-landlords and co-developers, are building the 124-acre multi-phase industrial property. The family-owned business will consolidate several of its locations throughout the Inland Empire into the new facility. Speculative construction of Building 2, which will house Uline, was initiated in January. Vertical construction is slated to begin in July with completion set for September 2021. Dave Desper and Joey Sugar of CBRE represented Uline in the lease transaction. Construction of the first phase of Ontario Ranch Logistics Center started in January 2019 and featured a 1.2 million-square-foot facility, which sanitary products manufacturer Kimberly-Clark now occupies. The next phase of speculative development at the campus is a 115,000-square-foot building, which is slated for delivery in early 2021. Upon completion, the entire logistics campus will encompass 2.6 million square feet of industrial space in six buildings. Ontario Ranch Logistics Center features state-of-the-art buildings that include ESFR sprinkler systems, 32-foot to 40-foot minimum clear heights, LED warehouse lighting and concrete truck courts greater than 180 …

April 16, 2020

Illinois Industrial Leasing Activity Midwest

American Tire Distributors Renews 233,669 SF Industrial Lease in McCook, Illinois

by Kristin Harlow April 16, 2020

MCCOOK, ILL. — American Tire Distributors Inc. has renewed its 233,669-square-foot industrial lease at 9450 Sergo Drive in McCook, about 15 miles southwest of Chicago. Chris Mason of Newmark Knight Frank represented the tenant in the lease transaction. ML Realty Partners is the property landlord. American Tire Distributors provides tires, wheels and supplies for the automotive industry.

April 16, 2020

Illinois Leasing Activity Midwest Office

Summit Expedited Logistics Expands Chicago Office Lease to 15,844 SF

by Kristin Harlow April 16, 2020

CHICAGO — Summit Expedited Logistics has renewed and expanded its office lease at 55 W. Monroe St. in Chicago. The full-service transportation provider has signed a long-term lease extension and will expand its office on the 35th floor of the 40-story office tower. The expansion provides Summit the space to accommodate its growing sales team, nearly tripling its footprint from 6,378 to 15,844 square feet. Matthew Wright of Bradford Allen represented Summit in the lease transaction. Andrea Saewitz and Matt Lerner of Cushman & Wakefield represented the landlord.

April 16, 2020

Leasing Activity Northeast Pennsylvania Retail

True Commercial Negotiates 3,500 Retail Lease for Great Clips in Middletown, Pennsylvania

by Alex Patton April 16, 2020

MIDDLETOWN, PA. — True Commercial Real Estate has negotiated a 3,500-square-foot retail lease for Great Clips at Mid-Town Plaza, a 102,000-square-foot retail center in the southeastern Harrisburg suburb of Middletown. A 59,000-square-foot Giant Supermarket anchors the shopping center, which is located at 450 E. Main St. Other tenants include Dollar Tree, AutoZone and H&R Block. The new lease brings the property to 100 percent occupancy. Steve Clipman of True Commercial represented Great Clips in the lease negotiations. Sidney Singer represented the landlord, Levin Management Corp., on an internal basis.

April 16, 2020

Leasing Activity New York Northeast Office

Uproxx Signs 3,300 SF Office Lease in Manhattan’s Lower East Side

by Alex Patton April 16, 2020

NEW YORK CITY — Entertainment and pop culture news outlet Uproxx has signed a 3,300-square-foot office lease in Manhattan’s Lower East Side. The company will occupy the entire seventh floor at 161 Bowery, a 25,000-square-foot office building originally built in 1920 and redeveloped in 2016. Uproxx, which is owned by The Warner Music Group, will relocate from a subleased space in the same building. Marx Realty owns the building. Both parties were represented internally in the lease negotiations.

April 16, 2020

Industrial Leasing Activity North Carolina Southeast

Beacon Partners Signs Quantum Machinery Group to 37,972 SF Industrial Lease in Charlotte

by Alex Tostado April 15, 2020

CHARLOTTE, N.C. — Beacon Partners has signed Quantum Machinery Group to a 37,972-square-foot lease for the company to move its distribution headquarters to Metrolina Park in Charlotte’s Henderson Circle submarket. Quantum Machinery is a metalworking equipment supplier that was formerly based in California. The company is expected to move into the new space this summer. Metrolina Park, which is now fully leased, is a 2.5 million-square-foot distribution park situated at the intersection of N.C. Highway 115, Old Statesville Road and Gibbon Road, seven miles north of downtown Charlotte. Brad Cherry of JLL represented Quantum Machinery Group in the lease transaction.

April 15, 2020

Industrial Leasing Activity Northeast Pennsylvania

TwinMed Signs 189,721 SF Industrial Lease in Bethlehem, Pennsylvania

by Alex Patton April 15, 2020

BETHLEHEM, PA. — Medical supplies distributor TwinMed has signed a 189,721-square-foot industrial lease in Bethlehem, an eastern suburb of Allentown. TwinMed will occupy a space at 1198 Feather Way in Steel City Trade Center, a partially completed Class A logistics facility. Construction of TwinMed’s facility moved forward amid halts related to the COVID-19 outbreak. Another speculative distribution center is planned for completion later this year, which will bring the total footprint of the development to 294,240 square feet. Mark Chubb, Michael Zerbe, Summer Coulter and Christopher Volkert of Colliers International represented TwinMed in the lease negotiations. Vincent Ranalli of CBRE represented the owner and developer, a joint venture between Dallas-based Trammell Crow and New York-based Clarion Partners.

April 15, 2020

Healthcare Leasing Activity Northeast Pennsylvania

Wistar Institute Preleases 8,000 SF Lab Space in Philadelphia

by Alex Patton April 15, 2020

PHILADELPHIA — The Wistar Institute, a nonprofit infectious disease and vaccine research institution, has preleased an 8,000-square-foot research lab space in Philadelphia. The space, which will be known as Wistar Discovery Center, will be located on the third floor of 3.0 University Place, a 250,000-square-foot life sciences office development in the University City area. Wistar will maintain its headquarters at 3601 Spruce St. The building is slated for completion in the third quarter of 2021. University Place Associates is the developer.

April 15, 2020

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