Leasing Activity

Avison Young Negotiates 56,556 SF Headquarters Lease for Automotive Tech Firm in Charlotte

by Alex Tostado April 9, 2019

CHARLOTTE, N.C. — Avison Young has negotiated a 56,556-square-foot lease for Transbotics to move its headquarters to 2205 Beltway Blvd. within Westpark85 in Charlotte. The tenant, which specializes in automatic guided vehicles (AGVs), is almost doubling its square footage with the move from its existing facility at 3400 Latrobe Drive in Charlotte. Transbotics expects to move into the space in June when the landlord, Foundry Commercial, completes the interior buildout of the space. Westpark85 is a 1.2-million-square-foot development being constructed in two phases on 107 acres near interstates 85 and 485. Christopher Skibinski, Henry Lobb and Tom Tropeano of Avision Young represented the tenant in the lease transaction. Fermin Deoca and Warren Snowdon of Foundry Commercial internally represented the landlord.

April 9, 2019

Illinois Industrial Leasing Activity Midwest

Old World Industries Signs 354,400 SF Industrial Lease in Bolingbrook, Illinois

by Kristin Harlow April 9, 2019

BOLINGBROOK, ILL. — Old World Industries has signed a 354,400-square-foot industrial lease to fully occupy Crossroads Parkway 605 in Bolingbrook. Duke Realty owns the building, which is located at 605 West Crossroads Parkway. Old World Industries is an automotive and chemical company. Britt Casey of Cushman & Wakefield represented the tenant in the lease transaction. Jeff Fischer and John Whitehead of NAI Hiffman represented Duke.

April 9, 2019

Leasing Activity Northeast Office Pennsylvania

CBRE Arranges Office Lease in Pittsburgh for Kennametal Inc.

by David Cohen April 9, 2019

PITTSBURGH, PA. — CBRE has arranged an office lease for Kennametal Inc. at an office tower in Pittsburgh’s central business district. Located at 525 William Penn Place, the 900,000-square-foot, 41-story office property is owned by investment group FAC 525. The tower is Pittsburgh’s fourth-largest office building in the CBD. Major capital improvements are nearing completion as part of a rebranding and redevelopment initiative at the property, including a complete lobby renovation, fitness center and reserved tenant parking.CBRE represented FAC 525 in the deal. Avison Young represented Kennametal in the lease transaction, the size of which was not disclosed.

April 9, 2019

Leasing Activity Office Texas

Indeed Signs 183,911 SF Office Lease at The Domain in Austin

by Taylor Williams April 8, 2019

AUSTIN, TEXAS — Job aggregator Indeed Inc., which has headquarters in Austin and Stamford, Conn., has signed a 183,911-square-foot office lease at Domain Gateway in Austin. The company will occupy the entirety of the Class A building, which was built in 2009 and is owned by a fund of California-based KBS, following the expiration of the current tenant’s lease. Troy Holme and Katie Ekstrom of CBRE represented KBS in the lease negotiations. CBRE also worked with Todd Chessher Commercial Leasing & Brokerage on behalf of Indeed. The space will ultimately be able to accommodate the 3,000 employees that the company plans to hire in the coming years. A timeline for assuming occupancy was not disclosed. According to local news station KXAN, with this lease, Indeed’s office footprint in Austin is now approaching 1 million square feet.

April 8, 2019

Leasing Activity Midwest Office Wisconsin

Serendipity Labs Coworking to Open Near Madison, Wisconsin

by Kristin Harlow April 8, 2019

MADISON, WIS. — Serendipity Labs Coworking will open a shared workplace on the sixth floor of 525 Junction Road in Middleton, about six miles west of Madison. Franchisee Ryan Jacobson will own and operate the 23,000-square-foot location. The Lab will feature offices, team rooms, focus rooms, wellness rooms, a lounge and café. Michael Berman, David Pudlosky and Nick Hepner of JLL represented Serendipity Labs in the lease transaction. Brett Rieman of JLL represented Artis REIT, the landlord and property manager.

April 8, 2019

Leasing Activity Retail Top Stories

Parent Company of Kay, Zales, Jared to Close 150 Jewelry Stores

by Taylor Williams April 8, 2019

HAMILTON, BERMUDA — Signet Jewelers (NYSE: SIG), which owns jewelry retailers Kay, Zales and Jared, will close approximately 150 North American stores after the 2019 holiday shopping season, the company said in its latest earnings report. These store closings follow Signet’s previous shuttering of 262 stores, most of them in North America, and are part of a larger downsizing program that will reduce the Bermuda-based retailer’s total store count by 13 percent over a three-year period. According to the earnings report, Signet’s same-store sales declined by 2 percent during the fourth quarter of the most recent fiscal year, which ended on Feb. 2, 2019. Same-store sales were projected to drop by another 2.5 percent during the current fiscal year. In a statement, Signet CEO Virginia Drosos pointed to several factors behind the company’s struggles, including increased competition in the jewelry space and weak demand from the United Kingdom market. Drosos also noted that sales of select merchandise for the holiday season fell below projections. A Signet spokesperson also told Business Insider that the broader struggles of American malls, in which many Signet stores are housed, contributed to the decision to close this wave of stores. “Signet is too highly exposed …

April 8, 2019

Alabama Leasing Activity Office Southeast

Georgia Tech Leases 38,000 SF of Office Space in Huntsville

by Alex Tostado April 5, 2019

HUNTSVILLE, ALA. — Georgia Tech Research Institute has leased 38,000 square feet of office space within Redstone Gateway, a 76,000-square-foot building in Huntsville being developed by Corporate Office Properties Trust, which will also serve as the landlord. Georgia Tech’s focus in Huntsville is aero-space related reasearch. Redstone Gateway is a research park near U.S. Army post Redstone Arsenal, which is home to the U.S. Army Aviation and Missile Command (AMCOM), major components of the Defense Intelligence Agency and the NASA‐ George C. Marshall Space Flight Center. Redstone Gateway is expected to open this fall. Georgia Tech will consolidate 70 employees from offices around Huntsville to the new location, with plans to further expand. Dale Lewis and Mark Rosenthal of CBRE and Russ Russell Real Estate represented Georgia Tech in the lease negotiations. The landlord was represented internally by James Lomax.

April 5, 2019

Illinois Leasing Activity Midwest Retail

Tide Cleaners to Open Seventh Chicagoland Location

by Kristin Harlow April 5, 2019

LIBERTYVILLE, ILL. — Tide Cleaners will open its seventh Chicagoland location at Red Top Plaza in Libertyville. The property is situated at the southeast corner of Milwaukee Avenue and Red Top Drive. Allen Joffe of Baum Realty Group represented Tide in the lease transaction with the landlord, IRC. Tide offers 24-hour drop-off and pickup and has more than 128 locations nationwide.

April 5, 2019

Georgia Leasing Activity Office Southeast

FleetCor Technologies to Relocate Headquarters to Atlanta’s Buckhead District

by Alex Tostado April 4, 2019

ATLANTA — FleetCor Technologies Inc. will move its headquarters to Atlanta’s Buckhead District by the end of the year. Currently occupying 100,000 square feet in Norcross, Ga., FleetCor will move into a 46,000-square-foot space within Terminus 100 formerly occupied by Bain & Co. Terminus 100 is a 27-story, 660,000-square-foot office tower situated 10 miles north of downtown Atlanta. Kevin Carroll of CBRE represented FleetCor in the lease negotiations.

April 4, 2019

Georgia Industrial Leasing Activity Southeast

Canadian Produce Company to Lease 140,000 SF of Warehouse Space in Metro Atlanta

by Alex Tostado April 4, 2019

COLLEGE PARK, GA. — Canadian produce company EarthFresh will lease 140,000 square feet of warehouse space in College Park beginning in September. More than 100 employees will work at the packing plant and distribution center. EarthFresh delivers potatoes and other food items in Canada and the United States, and the new location will serve the Southeastern and Southcentral U.S. Four Colliers International teams assisted EarthFresh in its search. Chris Cummings, Turner Wisehart and Sam Campbell represented EarthFresh in the site selection and lease transaction. Lee Cardwell and Darren Ross represented the landlord, Oakmont Industrial Group, in the lease transaction. John Walden assisted with comparative site analyses and incentives negotiations. Suzan Talley will assist with construction and build-out.

April 4, 2019

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