NEW YORK CITY — Investment firm Oak Hill Advisors has preleased 45,954 square feet of office space at One Vanderbilt Avenue, a 1.6 million-square-foot tower under development in the East Midtown neighborhood of Manhattan. One Vanderbilt is now 64 percent preleased to tenants including investment firm The Carlyle Group, equity firm Sentinel Capital Partners, TD Bank Group and German financial firms DZ Bank and DVB Bank. One Vanderbilt will offer a 30,000-square-foot, tenant-only amenity floor with meeting spaces, lounge and an outdoor terrace. The building will also include an 11,000-square-foot restaurant concept from French chef Daniel Boulud. Lance Korman, Brian Waterman and Jared Horowitz of Newmark Knight Frank represented Oak Hill Advisors in the lease negotiations. Robert Alexander, Ryan Alexander, Emily Jones and Alex D’Amario of CBRE represented the landlord and developer of the building, SL Green Realty Corp. Construction is slated for completion in August 2020.
PLANO, TEXAS — CBRE has negotiated a 154,097-square-foot industrial and office lease at 600 Shiloh Road in Plano for Inogen, a manufacturer of oxygen therapy products and services. The company will consolidate its existing Texas facilities into the new space, which allows for approximately 90,000 square feet for manufacturing operations and 60,000 square feet for the call center. The property’s current tenant, Flextronics, will vacate the space at the end of the year. Inogen plans to occupy the facility in early 2020. Baron Aldrine, Campbell Puckett, Dennis Hearst and Bryan Bazzi of CBRE represented Inogen in the lease negotiations. John Hendricks, also with CBRE, represented the landlord, Trident Capital Group.
NEW YORK CITY — Television production company Left/Right has signed a 34,000-square-foot office lease renewal at 39 West 19th Street in the Chelsea neighborhood of Manhattan. The company will continue to occupy the 7th, 9th and 10th floors of the 12-story, 131,054-square-foot office building for another 10 years. Erik Schmall and Daniel Thompson of Savills represented Left/Right in the lease negotiations. David Koeppel and Max Koeppel of Koeppel Rosen LLC represented the landlord, the Rosen family.
HOUSTON — NAI Partners has secured a 27,925-square-foot industrial lease for Texas Southwest Floors Inc., at 1350 Salford Drive in Houston. Chris Kugle of NAI Partners represented the tenant, which provides flooring and granite services for new residential and commercial projects, in the lease negotiations. Ed Bane and Jon Michael of Bridge Commercial Real Estate represented the landlord.
RICHMOND, VA. — Cushman & Wakefield has arranged the $60.3 million sale-leaseback of a seven-property national industrial portfolio on behalf of owner and seller The C.F. Sauer Co. The seven properties total 791,000 square feet. There are four buildings in Mauldin, S.C.; one in Orange, Fla.; one in San Luis Obispo, Calif.; and one in New Century, Kan. Ben Cooper, Larry Wilks, Keith Bell and Ben Pugh of Cushman & Wakefield represented Richmond-based C.F. Sauer, which is now controlled by the private equity partnership Falfurrias Capital Partners and operates as Sauer Brands. A public REIT acquired six of the properties while a separate public REIT purchased the remaining building. Sauer Brands manufactures a broad line of flavor-enhancing condiments, spices, seasonings and extracts, including well-known brands Duke’s Mayonnaise, The Spice Hunter, Sauer’s, Gold Medal and BAMA.
ENGLEWOOD, N.J. — NAI James Hanson has negotiated a 3,900-square-foot retail lease for Tiger Schulmann’s Martial Arts in Englewood, an eastern suburb of New York City. The space is situated within l28-46 South Dean Street, a 41,000-square-foot building anchored by New York Sports Club, which occupies 20,500 square feet on the second floor. Ronald Fotiu and Anthony Cassano of NAI James Hanson represented the landlord, JPM 2006 – LDP8 24-42 S. Dean St., in the lease negotiations.
BENSENVILLE, ILL. — Third-party logistics firm Axis Warehouse Management has signed a 174,178-square-foot industrial lease in Bensenville. The property is located at 500 Country Club Drive, about 24 miles northwest of Chicago. Built in 1974, the facility features a clear height of 22 feet, 31 exterior docks, two drive-in doors and 6,300 square feet of office space. CenterPoint Properties owns the building. Rick Daly of Darwin Realty led the lease transaction on behalf of both parties with assistance from colleague George Cibula.
NEW YORK CITY — BMW of Manhattan has renewed its 227,000-square-foot lease at 555 W. 57th St. in New York City, a 20-story office building formerly known as the Ford Motors Building. BMW occupies office space on the ground and concourse levels, as well as the entire second, third and fourth floors. The company also leases the ground-level showroom, which formerly showcased Ford vehicles. BMW will stay in the building for at least another 10 years following its lease renewal with New York-based landlord SL Green Realty Corp. “We’re delighted to extend our longstanding relationship with BMW,” says Steven Durels, SL Green’s executive vice president and director of leasing. Known locally as the BMW Building, the project was built in 1973 and renovated in recent years to include new entrances and an outdoor plaza area, as well as modernized bathrooms and hallways. Situated between 10th and 11th avenues on Manhattan’s west wide, the office building is close to Columbus Circle, Lincoln Center and transportation hubs. Other notable tenants in the building include CBS Broadcasting Inc., City University of New York, Greater New York Hospital Association and Mt. Sinai/Beth Israel. Scott Panzer and Matt Rosen of JLL represented BMW in the …
FRIENDSWOOD, TEXAS — Virgata Property Co. has announced several new tenant openings at Virgata Commons, the company’s 14-acre mixed-use development in Friendswood, located south of Houston. Orangetheory Fitness and MOD Pizza recently opened their doors, while Chipotle Mexican Grill and Jersey Mike’s are slated to open in mid-November. A space for Chick-fil-A is under construction and is expected to be complete by early 2020.
RARITAN, N.J. — Burlington Stores has signed a 46,000-square-foot retail lease in Raritan, located approximately 40 miles west of New York City. The apparel retailer will occupy a free-standing box formerly occupied by Toys ‘R’ Us/Babies ‘R’ Us in the 150,000-square-foot Somerville Circle Shopping Center, which is anchored by Staples, Petco and department store P.C. Richard & Son. Burlington plans to open the new store in spring 2020. Vanessa Fernandez-Kelty of Levin Management Corp. represented the landlord, which was undisclosed, in the lease negotiations. Clifford Simon and David Rosen of CNS Real Estate represented Burlington.