Leasing Activity

Chesapeake, EverWest Sign Best Buy to 500,400 SF Lease at Industrial Park in Metro Baltimore

by Camren Skelton August 29, 2018

GLEN BURNIE, MD. — Chesapeake Real Estate Group LLC (CREG) and EverWest Real Estate Investors LLC have signed a 500,400-square-foot lease with Best Buy at Brandon Woods III, a 259-acre industrial park in Glen Burnie, roughly 11 miles south of Baltimore. Matt Laraway and Scott Skogmo of CREG represented the company internally in the lease transaction, and Michael Royce of Avison Young represented Best Buy. CREG acquired the site from Exelon Corp. last year, and through a partnership with EverWest, will build up to 1 million square feet of industrial space. CREG and EverWest broke ground on the speculative facility at 7550 Perryman St. last year. Best Buy is scheduled to move into the new warehouse in March 2019, utilizing the space to distribute large products to stores throughout the Mid-Atlantic region. The building will also serve as a hub for the home delivery and installation of major appliances and large TVs, and a portion of the space will contain Best Buy service and repair technicians for consumer electronics and appliances. Best Buy plans to consolidate three existing locations throughout the Baltimore-Washington, D.C., metropolitan area to occupy the new building. In addition to the facility for Best Buy, CREG and …

August 29, 2018

Leasing Activity Office Texas

Coworking Firm Leases 19,692 SF at Metro Houston Office Building

by Taylor Williams August 28, 2018

SUGAR LAND, TEXAS — WorkSuites, a provider of coworking, virtual and executive office space throughout Houston, has leased 19,692 square feet at 77 Sugar Creek, a Class A office building located in the southwestern metro of Sugar Land. Dan Boyles and Michael Mannella of NAI Partners, along with John Pelletier and Greg Burns of ESRP Advisory, represented WorkSuites in the lease negotiations. Mat Volz and Craig McKenna of Stream Realty Partners represented the landlord, Velocis.

August 28, 2018

California Leasing Activity Office Western

Splunk Signs 301,000 SF Office Lease at 700 Santana Row in San Jose

by Amy Works August 28, 2018

SAN JOSE, CALIF. — Splunk Inc. has signed a long-term lease for 301,000 square feet of office space at 700 Santana Row. The 319,000-square-foot mixed-use building is under construction at the intersection of Santana Row and Olsen Drive in San Jose. Splunk is a publicly traded software company that creates applications for tracking big data. Developed by Federal Realty Investment Trust, 700 Santana Row is scheduled for delivery in 2019. The property will feature seven levels of office space above ground-floor retail space and a parking garage with approximately 1,300 spaces. San Francisco-based WRNS Studio designed the asset, which Devcon Construction is building. The all-concrete structure features 13-foot ceiling heights, a modern glass curtain wall, private terraces, a world-class urban plaza and is built to LEED Silver standards. Once completed, Santana Row will offer a total of 690,000 square feet of Class A office space, which is fully leased; 50 shops; 30 restaurants; nine personal service businesses; 615 rental apartments; 219 residential condominiums; and the 215-room Hotel Valencia.

August 28, 2018

Leasing Activity North Carolina Office Southeast

CBRE | Raleigh Arranges Leases With First Tenants at Office Development in Raleigh

by Camren Skelton August 28, 2018

RALEIGH, N.C. — CBRE | Raleigh has arranged leases with the first tenants at Crabtree Terrace, a 173,000-square-foot office building under construction in Raleigh. Coworking company Spaces signed a lease for 31,794 square feet of office space, Longleaf Law Partners signed a lease for 8,000 square feet and a high-end, large-format restaurant signed a lease for 12,500 square feet of ground-floor retail space. Chapel Hill-based East West Partners is developing Crabtree Terrace, which will include 145,000 square feet of office space and 28,000 square feet of ground-floor retail space upon completion in the fourth quarter of 2019. The building will be situated adjacent to a luxury hotel and conference center that will house a rooftop bar and full-service restaurant. Architecture firms Gensler and Kimley-Horn are designing the building, and Brasfield & Gorrie is the general contractor. Citizens Bank is providing construction financing for the project, and Northridge Capital LLC and SilverCap Partners are providing equity financing.

August 28, 2018

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Negotiates 65,814 SF Industrial Lease in Fort Worth

by Taylor Williams August 27, 2018

FORT WORTH, TEXAS — Lee & Associates has negotiated a 65,814-square-foot industrial lease at 4395 Diplomacy Road in east Fort Worth. Adam Graham and Mark Graybill of Lee & Associates represented the landlord, ML Realty Partners, in the lease negotiations. Matt Carthey of Holt Lunsford Commercial represented the tenant, Factory Blue.

August 27, 2018

Illinois Industrial Leasing Activity Midwest

Clarke Packing & Crating Signs 108,163 SF Industrial Lease in Bartlett, Illinois

by Kristin Harlow August 24, 2018

BARTLETT, ILL. — Clarke Packing & Crating Co. has signed a 108,163-square-foot industrial lease at Brewster Creek Business Park in Bartlett. Clarke will occupy space within a new 186,000-square-foot facility that features a clear height of 32 feet, 35 exterior docks and parking for 224 cars. Clarke currently leases 63,000 square feet at 4150 Chandler Drive in Hanover Park. Elise Couston, Adam Marshall and Mark Deady of Newmark Knight Frank represented the owner, Barings Real Estate, in the lease transaction. George Pappas of Hartford Associates represented the tenant.

August 24, 2018

Industrial Leasing Activity New Jersey Northeast

Cushman & Wakefield Secures 450,000 SF Industrial Lease in South Brunswick

by David Cohen August 23, 2018

SOUTH BRUNSWICK, N.J. — Cushman & Wakefield has secured a 450,000-square-foot, full-building lease for moving services provider Clutter at 1065 Cranbury South River Road in South Brunswick. The newly constructed facility is a speculative development by IDI Logistics. Andrew Stypa and Daniel Badenhausen of Cushman & Wakefield represented Clutter in the transaction. Cushman & Wakefield’s Jason Goldman, Andrew Siemsen and Marc Petrella represented IDI Logistics. Clutter will move into the facility by the end of Summer 2018.

August 23, 2018

Georgia Leasing Activity Office Southeast

Avison Young Arranges 41,288 SF Office Sublease for Instacart at Ponce City Market in Atlanta

by Camren Skelton August 23, 2018

ATLANTA — Avison Young has arranged a 41,288-square-foot sublease for Instacart, an on-demand grocery service, at Ponce City Market in Atlanta. Phil Barry, Hilton Barry, Steve Cook and Jack Kerrigan of Avison Young represented the sub-landlord, Athenahealth, in the five-year lease transaction. Sam Pruitt of Site Selection Group, along with Michelle Galvani and Shan Morris of Wildmor Advisors, represented Instacart. The creative loft office space is located on the eighth floor and includes an outdoor deck area. The 2 million-square-foot Ponce City Market is an adaptive reuse of the 1920s-era Sears, Roebuck & Co. building on Ponce de Leon Avenue, which is located along the Atlanta Beltline’s Eastside Trail in Atlanta’s Old Fourth Ward district. In addition to creative office space, the mixed-use development includes a food hall, loft apartments and retail space. Founded in 2012, San Francisco-based Instacart operates as a same-day grocery delivery service. Customers select groceries through a web application from various retailers and the order is delivered by a personal shopper.

August 23, 2018

Industrial Leasing Activity Texas

CBRE Negotiates 277,424 SF Industrial Lease Renewal in Ciudad Juarez

by Taylor Williams August 22, 2018

CIUDAD JUAREZ, MEXICO — CBRE has negotiated a lease renewal for 277,424 square feet of warehouse and distribution space within Finsa Industrial Park in Ciudad Juarez, the sister city of El Paso. Anthony Mash of CBRE represented the tenant, Intermatic, a producer of energy control devices, in the lease negotiations. The landlord, Finsa – Cibanvo SA Institucion DE Banca, was self-represented. The new lease term is seven years.

August 22, 2018

Arkansas Leasing Activity Retail Southeast

GBT Realty Signs Six New Tenants to 170,000 SF Shopping Center Near Little Rock

by Camren Skelton August 21, 2018

BENTON, ARK. — GBT Realty Corp. has signed six new tenants to The Shoppes of Benton, a 170,000-square-foot shopping center in Benton, roughly 25 miles southwest of Little Rock. Fast-casual restaurant chains Red Robin and Freddy’s Frozen Custard & Steakburgers just opened at the center, and Flowers + Home, Avalon Nails, Mathnasium and Hotworx opened this summer. The new retailers are joining existing tenants including Hobby Lobby, T.J. Maxx/HomeGoods, PetSmart, Ulta Beauty, Tuesday Morning, Rack Room Shoe’s, Maurices’s and Texas Road House. With the new storefronts, The Shoppes of Benton is 97 percent leased.

August 21, 2018

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