CHICAGO — Lessen, a tech-enabled solution for outsourced real estate property services, has opened its new 76,932-square-foot office at 203 North LaSalle Street in downtown Chicago. The 17-story building is situated in the city’s Central Loop tech district adjacent to Google’s forthcoming Chicago office in the Thompson Center. Lessen first entered the Chicago market in 2023 after its acquisition of technology company SMS Assist for $950 million, the largest proptech merger in U.S. history, according to the company. Lessen partners with residential and commercial owners and occupiers who collectively manage over 1 million locations.
PHILADELPHIA — Local REIT Brandywine Realty Trust will open a 13,000-square-foot food hall at its Schuylkill Yards mixed-use development in the University City area of Philadelphia. Gather Food Hall & Bar will feature six eateries and a bar and will be housed on the ground floor of the historic Bulletin Building at 3025 Market St., which was converted to a life sciences facility in 2021. Hospitality HQ, a platform operated by New York chef and restaurateur Akhtar Nawab, will operate the venue, which is scheduled to open in the fall.
FREDERICK, MD. — Matan Cos. has signed a 111,368-square-foot industrial lease at Riverside Research Park in Frederick, about 45 miles northwest of Washington, D.C. The research-and-development campus comprises two adjoining properties — 8484 Progress Drive and 8480 Progress Drive — that offer a total of 280,000 rentable square feet. The undisclosed tenant signed the lease at 8484 Progress Drive. Both buildings offer free, surfaced parking, several gazebos and five miles of walking trails. Matan was internally represented by Brad Benna in the lease transaction. Tim Shanklin of Tyler Duncan Real Estate represented the tenant.
HOUSTON — Locally based brokerage firm Finial Group has negotiated a 14,828-square-foot industrial lease in southeast Houston. The property at 13027 Gulf Commerce Drive totals 44,358 square feet and features exterior dock doors, drive-in doors, trailer storage and parking for over 90 vehicles. Jason Gibbons of Finial Group represented the undisclosed landlord in the lease negotiations. The tenant was National Technical Institute, a provider of vocational training services.
CINCINNATI — Noble Chicken, a new fast-casual restaurant concept from the creators of Wings and Rings, is set to open its flagship location in Cincinnati in March. The idea for Noble Chicken began in 2019 as an entry into a local wing competition in Cincinnati. The concept evolved via a ghost kitchen and a licensed, non-traditional food court location that opened in 2020. Noble Chicken is now backed by a franchise with over 40 years of experience in growing restaurants and supporting franchisees. In addition to chicken sandwiches, tenders and wings, Noble Chicken’s menu includes Nashville hot slaw, hatch chile queso mac & cheese, hush puppies and carnival-inspired deep-fried cookie dough. All main and side items are designed with portions significantly larger than those found at competitors. For franchisees, the initial investment ranges from $449,750 to $698,342. Restaurant sizes range from roughly 1,400 to 1,800 square feet. The brand is targeting growth in the Midwest, South and Southwest, with immediate focus on Ohio, Indiana, Kentucky, Florida and Texas.
FRISCO, TEXAS — Toyota Financial Services has signed a 242,000-square-foot office lease in Frisco. The automotive finance company will be the sole occupant of The Offices at Southstone Yards, a seven-story, mass timber building that is part of the 45-acre Southstone Yards development. Designed by Duda|Paine Architects in partnership with Gensler, The Offices at Southstone Yards offers amenities such as a fitness and wellness center, meeting spaces, private terraces on every floor and access to three acres of surrounding park space. CBRE represented the developer, Crow Holdings, in the lease negotiations. JLL represented Toyota Financial Services.
STAMFORD, CONN. — McCarter & English LLP has signed a 10,993-square-foot office lease in the southern coastal Connecticut city of Stamford. The law firm is relocating from 201 Broad Street to a portion of the 11th floor at 2 Stamford Plaza, a 259,000-square-foot building that is part of a larger, four-building campus. Benjamin Goldstein and Harrison Russell of Newmark represented McCarter & English in the lease negotiations. CBRE represented the undisclosed landlord.
MINNEAPOLIS — Meyer Borgman Johnson has signed a long-term office lease to occupy the 20th floor of RSM Plaza in Minneapolis. The multi-specialty structural design practice plans to move its corporate headquarters into the 12,277-square-foot space on June 1. Trinette Wacker and Reed Christianson of Transwestern Real Estate Services represented the owner, Golub & Co. Jeffrey LaFavre and Zach Synstegaard of IAG Commercial represented the tenant, which maintains seven offices across the U.S. and is relocating from 510 Marquette Ave. RSM Plaza, a 416,000-square-foot office tower, underwent a $10 million renovation in 2018 that revitalized the lobby and added amenities such has The Perch Lounge, The Pocket Park and conferencing and collaborative meeting spaces. The property is home to 801 Chophouse and 8th Street Grill & Taphouse.
CORNELIUS, N.C. — One Alliance Cos. has fully leased Johnsbury Square, a mixed-use property located at 19901-19905 W. Catawba Ave. in Cornelius, about 20 miles north of Charlotte. RE/Max Executive leased the last remaining office suite at Johnsbury Square. Kasandra Brew Blum represented the landlord on an internal basis. Existing tenants include Fusion Bowl, FitFast20, Apotheca Canabis Dispensary and Coffee Republic & Bakery, among others.
WASHINGTON, D.C. — Easterly Government Properties (NYSE: DEA), an office REIT that owns assets leased to the U.S. government and affiliates, has released its fourth-quarter 2024 results. The company exceeded its initial full-year guidance and achieved results at the upper end of raised guidance, with a net income of $20.6 million. In 2024 alone, Easterly purchased 10 properties either solely or in joint venture arrangements totaling $230 million. The company also expanded its investment strategy to include office properties leased to private sector government contractors and reduced its total portfolio energy consumption by 4 percent year-over-year. “We are pleased with the position of our portfolio,” said Darrell Crate, president and CEO of Easterly. Easterly has been directly affected by the recent activities of the Department of Government Efficiency (DOGE), a newly created federal department championed by Elon Musk, owner of Tesla, X (formerly Twitter) and SpaceX. According to multiple media outlets, DOGE has announced that it has terminated 2.3 million square feet of federal office leases and saved $145 million. DOGE is now targeting the termination or consolidation of nearly 100 more leases at government offices in several markets, most notably in the nation’s capital, according to The Wall Street Journal. …