Leasing Activity

Rhaeos Relocates Headquarters to 7,344 SF Space at Fulton Labs in Chicago

by Kristin Harlow February 6, 2025

CHICAGO — Rhaeos has relocated and expanded its headquarters and laboratory to a 7,344-square-foot space at Fulton Labs in Chicago. Trammell Crow Co. (TCC) owns the life sciences campus. Rhaeos, a clinical-stage medical device technology company, occupies space within a lab-ready graduation suite on the fifth floor of 400 North Aberdeen. The company’s previous headquarters was in Evanston, Ill. Born out of the Rogers Research Group at Northwestern University, Rhaeos is developing noninvasive wearable flow sensors for various chronic medical conditions for hospital and home use, starting with hydrocephalus. Dan Lyne of CBRE represented TCC, while Andria Winters and James Otto of CBRE represented Rhaeos. Additional tenants at 400 North Aberdeen include Portal Innovations, Mattiq, the Chan-Zuckerberg BioHub, the Chicagoland Climate Investment Alliance and the Illinois Institute of Technology.

February 6, 2025

Industrial Leasing Activity Texas

Partners Real Estate Negotiates 164,640 SF Industrial Lease in Southeast Houston

by Taylor Williams February 6, 2025

HOUSTON — Partners Real Estate has negotiated a 164,640-square-foot industrial lease within Cedar Port Industrial Park in southeast Houston. The tenant, German freight and forwarding operator deugro, will occupy the entirety of the cross-dock building at 2828 FM 1405, which sits on 47 acres and features 214 doors and 1,000 trailer positions. Gray Gilbert and Chris Haro of Partners represented the landlord, Illinois-based Dayton Street Partners, in the lease negotiations. Zane Carman, also with Partners represented the tenant.

February 6, 2025

Industrial Leasing Activity Texas

UMC Energy Solutions Signs 25,898 SF Industrial Lease in North Fort Worth

by Taylor Williams February 6, 2025

FORT WORTH, TEXAS — UMC Energy Solutions has signed a 25,898-square-foot industrial lease in North Fort Worth. The provider of oil and gas production systems is taking space at Sylvania Industrial Park, a 64-acre, rail-served development that spans 890,000 square feet. Vic Meyer, Trey Goodspeed and Carter Sells of Holt Lunsford Commercial represented the tenant in the lease negotiations. Todd Hubbard of NAI Robert Lynn represented the landlord, CanTex Capital.

February 6, 2025

Leasing Activity New York Northeast Office

Long Island Board of Realtors Signs 24,585 SF Office Lease in Melville, New York

by Taylor Williams February 6, 2025

MELVILLE, N.Y. — The Long Island Board of Realtors has signed a 24,585-square-foot office lease in Melville, about 25 miles east of Queens. The lease term is 15 years. The space is located on the third floor of the building at 1305 Walt Whitman Road, which according to LoopNet Inc. was originally built in 1955 and totals 165,310 square feet. Harvey Kolin of Corporate Commercial Realty LLC represented the tenant in the lease negotiations. Tim Parlante and Andrew Wiener internally represented the landlord, The Feil Organization.

February 6, 2025

Acquisitions Content Partner Development Features Industrial Leasing Activity Lee & Associates Loans Midwest Multifamily Northeast Office Retail Southeast Texas Western

Lee & Associates Report: Final Quarter 2024 Net Absorption Trends in Industrial, Office Likely Temporary; Multifamily, Retail Net Absorption Trajectories Stickier

by Sarah Daniels February 6, 2025

Lee & Associates’ 2024 Q4 North America Market Report looks back at the tenant demand, absorption rates and vacancy trends for industrial, office, retail and multifamily sectors nationwide to extrapolate what might be on the horizon for 2025 and beyond. While net absorption in industrial and retail is down from the same period in 2023, the reasons — too much supply in the pipeline versus too little — are opposite for each sector. Similar mirroring due to reverse factors can be seen in the net positive absorption last quarter in office and multifamily. Net industrial absorption was down 45 percent in the last quarter of 2024, compared to the same quarter in 2023. However, vacancy rates are likely to decline this year due to a lower volume of construction starts completing in 2025. New in-office policies among prominent companies contributed to the office market’s second consecutive quarter of positive absorption, but overall, office vacancy numbers are expected to continue rising until 2026. Low vacancy and factors challenging development meant very few options for retail tenants seeking new, high-quality space. Retail tenants in the food and beverage arena have been taking advantage of increased national spending on food outside the home …

February 6, 2025

Industrial Leasing Activity Texas

Sunon Furniture Signs 34,175 SF Industrial Lease in North Fort Worth

by Taylor Williams February 5, 2025

FORT WORTH, TEXAS — Sunon Furniture has signed a 34,175-square-foot industrial lease in North Fort Worth. The Asian furniture manufacturer will use the space within Building 4 at the 61.4-acre Basswood 35 Business Park as a national distribution center. Todd Lambeth and Luke Clardy of Bradford Commercial Real Estate Services represented Sunon Furniture in the site selection and lease negotiations. Todd Hubbard and Joe McLiney of NAI Robert Lynn represented the landlord, Mississippi-based EastGroup Properties.

February 5, 2025

Leasing Activity New York Northeast Office

Law Firm Signs 19,000 SF Office Lease at 1345 Avenue of the Americas in Midtown Manhattan

by Taylor Williams February 5, 2025

NEW YORK CITY — Law firm Ellenoff Grossman & Schole LLP has signed a 19,000-square-foot office lease at 1345 Avenue of the Americas in Midtown Manhattan. The space spans the entire 11th and part of the 10th floors, and the lease term is 11 years. Tim Gibson, Bill Levitsky and John Cilmi Jr. of Newmark represented the tenant in the lease negotiations. Howard Fiddle, Peter Turchin, Gregg Rothkin, Ben Joseph, Bill Iacovelli and Charles Laginestra of CBRE, along with internal agents Marc Packman and Clark Briffel, represented the landlord, Fisher Brothers.

February 5, 2025

Leasing Activity New York Northeast Office

JLL Negotiates 14,198 SF Office Lease Expansion at 101 Park Avenue in Midtown Manhattan

by Taylor Williams February 5, 2025

NEW YORK CITY — JLL has negotiated a 14,198-square-foot office lease expansion at 101 Park Avenue in Midtown Manhattan. The tenant, Pennsylvania-based Incline Equity Partners, is taking additional space on the 47th floor and now occupies 32,198 square feet within the 49-story, 1.3 million-square-foot building. Alexander Chudnoff, Nick Francic, Harrison Potter and Kate Roush of JLL represented the tenant in the lease negotiations. John Cefaly and Nicholas Dysenchuk of Cushman & Wakefield represented the landlord, H.J. Kalikow & Co.

February 5, 2025

Georgia Leasing Activity Office

Workspace Signs Hyundai Capital America to 45,000 SF Office Lease in Atlanta

by John Nelson February 4, 2025

ATLANTA — Workspace Property Trust has signed Hyundai Capital America to a 45,000-square-foot office lease at 4100 Wildwood Parkway, a 100,000-square-foot office building located within the Wildwood Office Park in Atlanta’s Cumberland-Galleria submarket. Hyundai Capital America, the finance and loan partner of Hyundai, Kia and Genesis car brands, previously operated a call center out of this location. 4100 Wildwood Parkway features offices, onsite conference facilities, kitchens and recreational areas. Kirk Anders of Anders Commercial Properties and Bob Gibbons of REATA Commercial Realty represented the tenant in the lease negotiations. Wes Rudes represented Workspace on an internal basis.

February 4, 2025

Leasing Activity Office Texas

GI Alliance Management Signs 52,300 SF Office Lease in Southlake, Texas

by Taylor Williams February 4, 2025

SOUTHLAKE, TEXAS — GI Alliance Management LLC, a network of medical providers focused on gastroenterology, has signed a 52,300-square-foot office lease in Southlake, located northeast of Fort Worth. The space is located within Cedar Ridge Office Park, a two-building, 128,000-square-foot complex. John Dickenson, Paul Hernandez and Matt Carthey of Holt Lunsford Commercial represented the landlord in the lease negotiations. Jordan Wade, John Huff, Allie McCracken, Cece Conway and Larry Serota with Transwestern represented the tenant.

February 4, 2025

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