Leasing Activity

Mercedes Benz to Open Pop-up Store on Chicago’s Magnificent Mile

by Kristin Harlow July 23, 2018

CHICAGO — Mercedes Benz has signed a 3,700-square-foot lease to open a pop-up store at 401 N. Michigan Ave. on Chicago’s Magnificent Mile. The automaker will begin occupying the space late this month for a three-month period. Mercedes will offer a rotating display of new models in the building’s plaza. Danny Jacobson, Luke Molloy and Stephen Ansani of CBRE represented Walton Street Capital in the lease transaction. Walton Street recently purchased the 737,000-square-foot office tower, which features 30,000 square feet of retail space. An Apple store currently occupies 22,000 square feet of the retail space.

July 23, 2018

Illinois Industrial Leasing Activity Midwest

Third-Party Logistics Company Signs 371,994 SF Industrial Lease in Lockport, Illinois

by Kristin Harlow July 23, 2018

LOCKPORT, ILL. — Kane Is Able Inc. has signed a 371,994-square-foot industrial lease at Heritage Crossing in Lockport, about 30 miles southwest of Chicago. The third-party logistics warehousing, transportation and supply chain company will occupy the space at 14630 S. 147th Court. The property features a clear height of 36 feet and is located near I-355. Trent Smith and Eric Beichler of Mohr Partners represented the tenant in the lease transaction. Dan Leahy, Mark Moran and John Whitehead of NAI Hiffman represented the landlord, ML Realty Partners.

July 23, 2018

Healthcare Leasing Activity Massachusetts Northeast

Davis Cos. Arranges 48,700 SF Lease for Pharmaceutical Company at Alewife Research Center in Cambridge

by David Cohen July 20, 2018

CAMBRIDGE, MASS. — The Davis Cos. has arranged a 48,700-square-foot lease for Japanese pharmaceutical conglomerate Eisai Inc. at the Alewife Research Center in Cambridge. Eisai will relocate from its current site in Andover in the first quarter of 2019. Developed by The Davis Cos., the Alewife Research Center is a LEED Silver-certified, 224,000-square-foot laboratory building with ground-floor retail. Located at 35 Cambridgepark Drive, the five-story facility is scheduled for completion by Oct. 1, 2018.

July 20, 2018

Leasing Activity Office Texas

Accounting Firm Signs 45,872 SF Office Lease in Fort Worth

by Taylor Williams July 20, 2018

FORT WORTH, TEXAS — Accounting firm Whitley Penn has signed a 45,872-square-foot office lease at the 25-story Frost Tower in downtown Fort Worth. The property features high-speed elevators, floor-to-ceiling windows and a fitness center. Cannon Camp and Todd Burnette of JLL represented Whitley Penn in the lease negotiations. Seth Koschak and Tyler Maner of Stream Realty Partners represented the landlord, Anthracite Realty.

July 20, 2018

Industrial Leasing Activity Texas

Schlumberger Signs 226,000 SF Office Lease Renewal, Expansion in Houston

by Taylor Williams July 19, 2018

HOUSTON — Schlumberger Technology Corp., a division of international oilfield services firm Schlumberger Ltd., (NYSE: SLB) has renewed and expanded its office lease in Houston. The company now occupies 226,000 square feet at 1430 Enclave Parkway in the Energy Corridor area on Houston’s west side. Owned by Atlanta-based Piedmont Office Realty Trust (NYSE: PDM), the Class A property totals 312,564 square feet. The size of Schlumberger’s original footprint was not disclosed, but the new lease carries a 10-year term and the company now occupies roughly 72 percent of the total leasable space.

July 19, 2018

Leasing Activity New York Northeast Office

LinkedIn Expands Lease at Empire State Building to 312,947 SF

by David Cohen July 19, 2018

NEW YORK CITY — LinkedIn has signed a lease for an additional 30,165 square feet at the Empire State building in Manhattan, bringing the company’s total footprint at the building to 312,947 square feet. The social media and networking website now occupies space on floors 3, 22, 23, 24, 25, 26, 27 and 28. Sacha Zarba and Lauren Crowley of CBRE represented LinkedIn in the lease negotiations with the landlord, Empire State Realty Trust Inc. (NYSE: ESRT). Amenities at the Empire State Building include a 15,000-square-foot fitness center, a tenant-only conference center and nine in-building dining options as well as two Starbucks locations. More than 1,000 LinkedIn employees work in the Empire State Building location.

July 19, 2018

Industrial Leasing Activity New Jersey Northeast

NAI Hanson Arranges 40,000 SF Industrial Lease in Northern New Jersey

by David Cohen July 18, 2018

CARLSTADT, N.J. — NAI James Hanson has arranged a 40,000-square-foot industrial lease at 223 Veterans Blvd. in Carlstadt. NAI Hanson’s Kenneth Lundberg and Patrick Lennon represented the tenant, NIS CP Corp., in the transaction. United Realty Advisors represented the landlord, Sitex. The property was renovated in 2017 and now features 5,000 square feet of office space as well as modern warehouse lighting. The building also features a clear height of 16 feet plus four dock doors and parking for 34 cars.

July 18, 2018

Georgia Leasing Activity Retail Southeast

TSCG Signs Blasted Barley Beer at Student Housing Community in Athens, Georgia

by Camren Skelton July 18, 2018

ATHENS, GA. — The Shopping Center Group (TSCG) has signed Blasted Barley Beer Co. to a 5,000-square-foot lease at Georgia Heights, a student housing community with 40,000 square feet of ground-floor retail space in Athens. The Phoenix-based restaurant and brewery plans to offer more then 30 craft beer varieties on tap, including its own signature brews, along with bar food. Harry Croxton and Amy Kennedy of TSCG arranged the 10-year lease on behalf of the landlord, Memphis-based EdR Collegiate Housing. Blasted Barley is expected to open at the 317-unit community early next year, bringing the property to full occupancy. Additional tenants include CVS/pharmacy, J.Crew, The Athlete’s Foot, SunTrust Bank, Dress Up, D.P. Dough, Cinnaholic, European Wax and Treehouse Interiors. The property encompasses a city block between Broad Street, at the main entrance to the University of Georgia, and Clayton Street, home to the Georgia Theatre.

July 18, 2018

Leasing Activity North Carolina Retail Southeast

Branch Signs Three Tenants to 215,000 SF Shopping Center in North Carolina’s Triad Region

by Camren Skelton July 18, 2018

GREENSBORO, N.C. — Branch Properties LLC has signed three tenants to Westridge Square, a 215,000-square-foot shopping center in Greensboro. The Atlanta-based real estate company originally acquired the center and its seven outparcel buildings in 2015, and is currently re-tenanting the property. Kohl’s will reduce its footprint at the center from 87,000 square feet to 55,000 square feet, and Planet Fitness will occupy the vacated space. The gym is expected to open in late 2018 or early 2019. According to local media reports, Sprouts Farmers Market will backfill 30,524 square feet of the 47,452-square-foot space formerly occupied by Harris Teeter, which closed in December. Later this summer, Title Boxing Club will open at one of Westridge Square’s outparcels. Negotiations are underway for an additional tenant to occupy the remaining space. In addition to remerchandising Westridge Square, Branch will modernize the shopping center with planned renovations including raising the parapets and upgrading the building materials to include brick, metal and wood.

July 18, 2018

Civic Leasing Activity Texas

U.S. Army Selects Austin as Headquarters of New Division

by Taylor Williams July 18, 2018

AUSTIN, TEXAS — The U.S. Army has selected Austin as the site of its new Futures Command headquarters, a project that will bring about 500 new jobs to the state capital. The Army’s Futures Command division will occupy space owned by the University of Texas (UT) in downtown Austin, with a directive to assess new weapons technology and emerging threats. The Army expects the new headquarters to be fully operational by summer 2019.

July 18, 2018

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