Leasing Activity

Five Below, HomeGoods to Open at PREIT’s Repositioned Magnolia Mall in Florence, South Carolina

by Camren Skelton April 9, 2018

FLORENCE, S.C. — An 8,500-square-foot Five Below and a 20,000-square-foot HomeGoods will join the tenant mix at PREIT’s Magnolia Mall in Florence. The first-to-region retailers join Burlington, which opened in 2017, backfilling the space formerly occupied by Sears. In addition to these openings, H&M will open later this year, Chick-fil-A is expanding its location to include indoor seating and Texas Roadhouse will lease an outparcel location at the mall. PREIT has also renewed a 10-year lease with Belk, which will undergo a store remodel. Philadelphia-based real estate investment trust PREIT owns and operates more than 22.5 million square feet of retail space located primarily in the eastern United States.

April 9, 2018

Healthcare Leasing Activity Texas

United General Hospital Signs 44,569 SF Lease at Texas Medical Center in Houston

by Taylor Williams April 9, 2018

HOUSTON — United General Hospital has signed a 44,569-square-foot medical office lease within the Texas Medical Center in Houston. The healthcare provider will operate out of 7501 Fannin, a 195,000-square-foot, Class A building that was completed in 2004. Zach Leger, Jacob Aldridge and Rani Jones of NAI Partners represented the landlord, Cambridge Properties, in the lease negotiations. David Greenberg of Greenberg & Co. represented United General Hospital.

April 9, 2018

Georgia Leasing Activity Life Sciences Office Southeast

Biotech Firm Opens 15,585 SF Headquarters at Georgia Tech’s Technology Enterprise Park in Atlanta

by Camren Skelton April 9, 2018

ATLANTA —Vero Biotech has opened a new 15,585-square-foot headquarters at the Georgia Institute of Technology’s Technology Enterprise Park in Atlanta. The biopharmaceutical company, formerly known as GeNO LLC, designs, develops and commercializes products for patients with pulmonary and cardiac diseases. Vero Biotech will move its administrative, research & development and manufacturing departments from its current office in Cocoa, Fla., to the new space over the next six to 12 months. The company plans to double its operations, hiring up to 40 new employees over the next year. In addition, Vero Biotech will partner with Georgia Tech to provide hands-on experience and internship opportunities for students. Chad Koenig and Ben Jackson of Cushman & Wakefield represented Vero Biotech in the lease negotiations, and Enio Guerra and Dick Bowers of Richard Bowers & Co. represented Georgia Tech.

April 9, 2018

Leasing Activity Restaurant Retail Texas

Pinstripes Opens 30,000 SF Bowling Alley, Restaurant in Fort Worth

by Taylor Williams April 9, 2018

FORT WORTH, TEXAS — Pinstripes, a Chicago-based food and entertainment concept, will open a 30,000-square-foot, two-story bowling alley and restaurant in Fort Worth. Located within The Shops at Clearfork on the city’s southwestern side, the venue will feature 12 bowling lanes, six bocce ball courts and private event space. Larry Leon of Venture Commercial represented Pinstripes in the lease negotiations. This location will be the company’s ninth in the country and first in Texas.

April 9, 2018

Leasing Activity Office Texas

Keen Realty Group Negotiates 21,000 SF Office Lease in Houston

by Taylor Williams April 6, 2018

HOUSTON — Keen Realty Group has negotiated a 21,000-square-foot office lease at 9703 Richmond Ave. in the Westchase district of Houston. The tenant, The Nations Law Firm, a litigation firm with offices in Houston, New York, Atlanta and Washington, D.C., was self-represented in the lease negotiations. Payton Indermuehle and Gloria Casimir of Keen Realty represented the landlord, Tass Realty LLC. The new lease brings the building to 92 percent occupancy.

April 6, 2018

Florida Industrial Leasing Activity Property Type Southeast

State Street Realty Secures 109,075 SF Industrial Lease with Swiss Logistics Company in South Florida

by Camren Skelton April 6, 2018

HIALEAH GARDENS, FLA. — State Street Realty has arranged a 109,075-square-foot lease with Kuehne + Nagel Inc. at the three-building Miami Industrial Logistics Center (MILC) in Hialeah Gardens. The Switzerland-based global transport and logistics company will lease space at the 255,846-square-foot MILC Building 3, increasing the building’s occupancy from 40 percent to 80 percent. The building features build-to-suit offices, a 120-foot truck court, 32-foot clear heights, four overhead doors per bay, 54-foot column spacing, a 60-foot staging bay, ESFR sprinkler system, fire safety system and LED lighting. Frank Trelles and Brian Cabielles of State Street Realty arranged the lease on behalf of the landlord, Duke Realty. Dan Rose of Real Estate Advisory Partners and David Albert of CBRE represented Kuehne + Nagel.

April 6, 2018

Leasing Activity Office Texas

J. Beard Negotiates 11,665 SF Office Sublease in Metro Houston

by Taylor Williams April 5, 2018

SPRING, TEXAS — The J. Beard Real Estate Co. has negotiated an 11,665-square-foot office sublease at 28420 Hardy Toll Road in the northern Houston metro of Spring. Sean Durkin of J. Beard represented the original tenant, Swire Oilfield Services Inc., in the negotiations. Candace Baggett of Calibre Group represented the sublessee, Calfrac Well Services Corp., which is relocating and expanding its current space at the property.

April 5, 2018

Florida Leasing Activity Retail Southeast

Whole Foods to Relocate Store to Bromley’s Midtown Tampa Project

by Camren Skelton April 5, 2018

TAMPA, FLA. — Whole Foods Market has unveiled plans to open a 48,000-square-foot location at Midtown Tampa, a planned mixed-use project in Tampa. New York-based Bromley Cos. is developing the project, which will feature more than 200,000 square feet of retail, restaurant, entertainment and outdoor space; 750,000 square feet of office space; 400 multifamily units and two boutique hotels. Whole Foods will relocate from its current 32,000-square-foot Tampa location upon opening at the development in fall 2020. The new store will employ approximately 200 full- and part-time members.

April 5, 2018

Illinois Leasing Activity Midwest Office

Citadel, Sprout Social Sign Lease Renewals at 1.5 MSF Office Building in Chicago

by Kristin Harlow April 4, 2018

CHICAGO — Citadel and Sprout Social have signed lease renewals at Citadel Center at 131 S. Dearborn St. in Chicago. Financial institution Citadel has signed a long-term lease to maintain its global headquarters at the building. Sprout Social, a social media management company, has expanded its lease by 64,000 square feet. The property is now 90 percent leased. Other tenants include JPMorgan, Holland & Knight, Perkins Cole and Constellation Brands. Citadel Center spans 37 stories and 1.5 million square feet. A partnership between Angelo, Gordon & Co., Hines and Dearborn Capital Group acquired the property in 2016. Renovation plans include a new conference center that seats up to 180 people, security enhancements and a complete lobby renovation with elevators. All renovation work is expected to be complete by the end of the year. The Telos Group LLC handles leasing efforts at the property.

April 4, 2018

Leasing Activity Massachusetts Northeast Office

CBRE Arranges 135,000 SF of Leases at Office Park in Suburban Boston

by David Cohen April 3, 2018

CHELMSFORD, MASS. — On behalf of Tritower Financial Group, CBRE/New England has secured three new office leases totaling 75,659 square feet and one lease renewal for 59,670 square feet at 300 Apollo Drive in Chelmsford. The property is located 34 miles northwest of Boston. Recent transactions include a 29,033-square-foot lease signed by the HCL Corp.; a 23,833-square-foot lease signed by software company By Appointment Only; and a 22,793-square-foot lease signed by US Alliance Federal Credit Union. Axis Communications, an IP networking solutions company, renewed its 59,670-square-foot lease. Tritower Financial, the owner of the property since 2014, recently made significant upgrades to the building’s amenities. The upgrades include a full service café, a game room and a fitness center with Peloton bikes and showers.

April 3, 2018

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