BURBANK, CALIF. — SRS Real Estate Partners has signed leases with seven tenants to bring 130,000 square feet of new retail space to Burbank Town Center, located at 201 E. Magnolia Blvd. in Burbank. With the new tenants, the 1.2 million-square-foot property is 94 percent occupied. The asset recently underwent a $60 million upgrade, including a new ground-floor food court and upper-level dining terrace. New tenants are: H&M (26,500 sf) Round 1 Bowling and Entertainment (45,000 sf) Bob’s Furniture (32,000 sf) A 7,200-square-foot contemporary Asian bar and grill concept Carter’s (4,600 sf) An international virtual reality concept (4,500 sf) Panini Kabob Grill (3,000 sf) Terrison Quinn and Casey Mahoney of SRS Real Estate Partners represented the landlord in the transactions.
Leasing Activity
PEMBROKE PARK, FLA. — Best Buy has leased 27,256 square feet of industrial space and Ryder has renewed its lease for 70,861 square feet at Seneca Industrial Park in Pembroke Park. The combined 98,117 square feet brings the 885,000-square-foot industrial park to full capacity. Thomas Kresse, Ben Eisenberg, Walter Byrd and Carlos Gaviria of Transwestern represented the landlord, TH Real Estate, the investment arm of TIAA. Craig Fetherston of The Shopping Center Group represented Best Buy, a multinational consumer electronics retailer. Tom O’Loughlin of CBRE represented Ryder, a nationwide company specializing in fleet management solutions, supply chain management and logistics.
HOUSTON — JLL has arranged a $60 million loan for the refinancing of Hyatt Regency Houston Galleria, a 325-room hotel in Houston. The property features more than 19,000 square feet of meeting and event space, two food and beverage outlets, an outdoor pool and a fitness center. Jeffrey Davis, Mike Melody, Kevin Davis, Paul House, Matt Nowaczyk and John Ream of JLL arranged the loan through MetLife on behalf of the undisclosed borrower.
CARROLLTON, TEXAS — Holt Lunsford Commercial has negotiated a 298,653-square-foot industrial lease renewal at 2115 E. Belt Line Road in the northern Dallas suburb of Carrollton. Jim Brice and Andrew Gilbert of Holt Lunsford represented the landlord, Lexington Realty Trust. Jeff Mercer of The Mercer Co. represented the tenant, Teasdale Foods Inc., a producer of canned and packaged foods including beans, hominy and sauces.
CHICAGO — Verizon has leased 2,455 square feet on North Cicero Avenue in Chicago for a flagship store. The property, which sits below 64 residential units, is located in Portage Park near the Jefferson neighborhood. First Western Properties brokered the 10-year lease transaction.
FRISCO, TEXAS — Cardtronics, an operator of ATM machines and financial kiosk services, has expanded its presence by 46,000 square feet at HALL Park in Frisco. The company now occupies 82,000 square feet at 3201 Dallas Parkway, HALL Group’s newest development. Garrold Parratt, Greg Biggs and Kimarie Ankenbrand of JLL represented Cardtronics in the lease negotiations. Kim Butler, Brad Gibson and Cynthia Cowen represented HALL Group internally.
AUSTIN, TEXAS — Goodwill Central Texas has signed a 30,720-square-foot industrial lease at 1309 Rutherford Lane in Austin. The nonprofit organization’s new warehouse space is located within Global Business Park on the city’s north side. Ace Schlameus of JLL represented the landlord in the lease negotiations. Bill Russell, also of JLL, represented Goodwill. A timeline for occupancy of the new space was not released.
HOUSTON — NAI Partners has negotiated a 21,043-square-foot industrial lease at 6633 Lindbergh St. in Houston. Chris Caudill and Jake Wilkinson of NAI Partners represented the landlord, R. Pennington Investments LP, in the lease negotiations. Jeff Peltier and Barrett Gibson of Colliers International represented the tenant, Henek Fluid Purity Systems Inc., an oil field equipment supplier.
IRVING, TEXAS — Badger Paperboard Texas, a custom paperboard converter specializing in packaging and shipping materials, has signed a 38,828-square-foot industrial lease at 3701 S. 20th Ave. in Irving. The new space is situated within International Logistics Center at Dallas-Fort Worth (DFW) International Airport. Blake Kendrick, Cannon Green and Sarah Ozanne of Stream Realty Partners represented the landlord, Cabot Properties, in the lease negotiations. CBRE represented the tenant.
RICHARDSON, TEXAS — Generational Group LLC, a Dallas-based investment banking firm, will relocate its headquarters from Dallas Parkway to CityLine, a mixed-use development in the northeastern Dallas suburb of Richardson. Steve Thelen and Anissa Guerriere of JLL represented Generational Group in the lease negotiations. Nathan Durham, Paul Wittorf and Duane Henley of Transwestern represented the landlord.