NEW YORK CITY – Media iQ Digital, a global analytics and technology company, has leased more than 23,000 square feet comprising the entire 25th and 26th floors of 261 Fifth Avenue in Manhattan. The company is nearly tripling its space by relocating from 8,013 square feet at 853 Broadway. The lease brings the 405,000-square-foot building to more than 87 percent occupancy. Other tenants at the building include Himatsingka USA, Richloom Fabrics Group, Dan Klores Communications and Tumi Inc. The Feil Organization owns the property. The asking price for the 10-year lease was $85 per square foot.
GRAND RAPIDS, MICH. — South Korean-based restaurant chain Bonchon is opening its first Michigan location at the Knapp North retail development located at 2365 E. Beltline Ave. in Grand Rapids. The restaurant, whose signature dish is Korean fried chicken and wings, will occupy 2,644 square feet. Pinnacle Construction Group is constructing the three-building development. Other tenants include Sherwin Williams and Sara’s Sweets. Doug Taatjes and Hillary Taatjes-Woznick of NAI Wisinski of West Michigan represented Pinnacle in the lease transaction. Chris Prins of Colliers International represented Bonchon.
EL PASO, TEXAS — CBRE has negotiated a 56,400-square-foot industrial lease at 19 Butterfield Trail in El Paso on behalf of furniture producer South Shore USA Inc. The deal will provide a short-term warehouse lease to bridge the storage gap as the tenant constructs its own facility. Bill Caparis of CBRE represented South Shore USA in the lease negotiations. Chad McCleskey, also with CBRE, represented the landlord, Sealy SW Properties LP.
ATLANTA — Atlanta-based Core5 Industrial Partners has signed Saddle Creek Logistics Services to a 1.2 million-square-foot lease at Southwest 85 Logistics Center, an industrial building under construction in southwest Atlanta. Saddle Creek, a provider of supply chain solutions for retailers, manufacturers and e-commerce companies, will use the new space to provide distribution services on behalf of a home improvement retailer for its Southeast locations. Core5 expects to wrap up construction on the facility this summer. Ladson Montgomery of Newmark Grubb Phoenix Realty Group and Dave Watson of Newmark Knight Frank represented Saddle Creek in the lease negotiations. The transaction marks the largest industrial lease signed to date in the Atlanta region, according to Core5. Southwest 85 Logistics Center will feature 40-foot clear heights, more than 590 trailer spaces and 200 auto parking spaces.
MAHWAH, N.J. – NAI James E. Hanson has brokered a lease with Snow Joe DC LLC for Sitex Group’s new industrial facility located at 100 Performance Drive within Stateline Business Park in Mahwah. Situated on 20.7 acres, the warehouse offers a 36-foot clear height, 54-by-60-foot column spacing, 36 dock doors, ESFR sprinklers, two drive-in doors and parking for 25 trailers and 184 cars. Snow Joe is a manufacturer of innovative, eco-friendly and affordable land and garden tools. Kenneth Lundberg and Patrick Lennon of NAI Hanson represented the landlord, while Brian Scheuer of Chaus Realty represented the tenant in the lease transaction.
HOUSTON AND SUGAR LAND, TEXAS — Breakfast chain The Toasted Yolk Café will open two additional restaurants in the Houston area, including a 5,000-square-foot restaurant in the Galleria area of Houston and a 5,954-square-foot restaurant in the southwestern suburb of Sugar Land. The Toasted Yolk will have seven locations in Houston following the opening of these venues, both of which are slated for August. Paul Vernon of Henry S. Miller Brokerage Co. represented The Toasted Yolk in the lease negotiations for the new spaces.
SAN ANTONIO — Retail Properties of America Inc. (RPAI) has secured two new retail leases totaling 7,300 square feet at Huebner Oaks, a 285,000-square-foot, open-air shopping destination in San Antonio. Jeweler James Avery will open a 6,100-square-foot store and francesca’s, a women’s clothing and accessories retailer, will open a 1,200-square-foot store. The stores are scheduled to open in the summer of 2018 and early 2019, respectively.
NEW YORK CITY — Cushman & Wakefield has arranged a 99-year ground lease for 311 West 42nd Street in the Midtown West neighborhood of Manhattan. Terms of the lease were not disclosed. Taconic Investment Partners and National Real Estate Advisors have leased the property from owners 1199SEIU United Healthcare Workers East and plan to demolish the existing building and construct a 350,000-square-foot rental building with ground-floor retail. The planned development will include an affordable rental housing component. Cushman & Wakefield represented the owner in the transaction. 1199SEIU will remain in the current space until 2020, when the union will relocate to its new headquarters.
BOWIE, MD. — MRP Industrial has signed La-Z-Boy to a 220,800-square-foot, full-building lease at 16101 Queen’s Court, located within Bowie’s Collington Park industrial development. Delivered in 2016, the facility is located roughly 18 miles northeast of Washington, D.C. The national furniture manufacturer will transfer its distribution and logistics operation, currently located in Odenton, Md., to the new facility this fall. Lisa Goodwin of MRP Industrial and Lance Schwarz of NAI Michael arranged the lease on behalf of the building owner, a partnership between MRP Industrial and AEW Capital Management LP. Rob Tamillo, Zak Mirkowski, Todd Hughes and Greg Ferraro of JLL represented La-Z-Boy. Situated on 13 acres, 16101 Queen’s Court features 32-foot clear heights, 40 dock doors, two overhead drive-in doors, a 185-foot truck court and seven-inch, unreinforced concrete flooring. La-Z-Boy currently operates five manufacturing plants and six regional distribution centers throughout the country. The Bowie location will contain manufacturing, delivery and repair services, and will also offer customers the option to pick up furniture purchases instead of having their orders delivered.
WARREN, MICH. — Anytime Restoration Service Inc. has signed a 10,500-square-foot industrial lease in Warren. The disaster restoration company that specializes in both commercial and residential projects involving water, fire and mold cleanup will occupy the space at 6655 Chicago Road. Matthew Farrell and Kevin Tamer of CORE Partners represented the tenant in the five-year lease transaction. Brad Hitch of Deco Properties represented the undisclosed landlord.