Friday, June 12, 2026
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IllinoisLeasing ActivityMidwestOffice

NAI Hiffman Negotiates 2,748 SF Office Lease in Rosemont, Illinois

by Kristin Harlow

ROSEMONT, ILL. — NAI Hiffman has negotiated a 2,748-square-foot office lease for Horn-McGowan Insurance Agency at 5500 Pearl Street in Rosemont. The lease brings the four-story building to 100 percent occupancy. Owner Integris Ventures purchased 5500 Pearl Steet in 2018 and upgraded the amenities to include a fitness center, lounge, game room and boardroom. NAI Hiffman was engaged by ownership in 2019 to oversee the upgrades and leasing and marketing strategy. Jason Wurtz, Jack Reardon and Sarah Walker of NAI Hiffman represented Integris Ventures in the negotiations. 

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Company NewsDevelopmentIndustrialNortheastOfficePennsylvaniaRetailTop Stories

Urban Outfitters to Open New Distribution Facility in Metro Philadelphia, Add 1,050 Jobs

by John Nelson

PHILADELPHIA AND FALLS TOWNSHIP, PA. — Urban Outfitters Inc. (NASDAQ: URBN), a global portfolio of apparel retail brands and physical shops that includes Urban Outfitters, Anthropologie and Free People, is making a major investment in its home market of metropolitan Philadelphia. The company has announced that it will open a new facility for its Nuuly brand in Falls Township, a city located 28 miles northeast of Philadelphia in Bucks County. According to Urban Outfitters, the new facility will create 600 jobs and work in tandem with the existing 600,000-square-foot Nuuly distribution center in Raymore, Mo., that opened in 2024. Further details about the Falls Township facility were not released. Nuuly is a monthly subscription service that lets patrons rent apparel from URBN’s various brands. According to the Philadelphia Business Journal, Nuuly represents almost 10 percent of URBN’s total net sales. In addition to the new facility, URBN plans to invest at least $150 million in capital and create 450 jobs at its global headquarters campus at the Philadelphia Navy Yard. The company has been headquartered at the former shipyard since 2006 and recently opened the 117,000-square-foot Building 16. Today, URBN employs roughly 2,500 staffers at the Navy Yard, which includes adaptive …

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Leasing ActivityOfficeTexas

JLL Negotiates 75,000 SF Office Lease at APEX at Legacy in Plano

by Taylor Williams

PLANO, TEXAS — JLL has negotiated a 75,000-square-foot office lease at APEX at Legacy, a 220,000-square-foot building located at the intersection of Dallas North Tollway and Sam Rayburn tollways in Plano. The deal with the tenant, cloud-based educational software company PowerSchool, brings APEX at Legacy to 97 percent occupancy. Blake Shipley, Gini Rounsaville and Michael Williams of JLL represented the undisclosed landlord in the lease negotiations. Stephen Salomon, Will Haynes and Jad Charif of CBRE represented the tenant.

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Leasing ActivityNew JerseyNortheastOffice

Sprouts Farmers Market to Open 28,750 SF Grocery Store in Somerset, New Jersey

by Taylor Williams

SOMERSET, N.J. — Sprouts Farmers Market will open a 28,750-square-foot grocery store in the Central New Jersey community of Somerset. The Phoenix-based grocer is taking space at the 219,000-square-foot Somerset Shopping Center. Vanessa Kelty and Ed Vasconcellos of Levin Management Corp. represented the undisclosed landlord in the lease negotiations. Mike Horn and Steven Winters of RIPCO Real Estate represented Sprouts. A tentative opening date has not yet been announced.

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Leasing ActivityOfficeTexas

Creative Action to Open 25,000 SF Headquarters in Austin’s Mueller District

by Taylor Williams

AUSTIN, TEXAS — Creative Action, a youth arts education organization, will open a 25,000-square-foot headquarters at Mueller, a 700-acre mixed-use district in North Austin that is a redevelopment of a former municipal airport. The space will be housed across two levels within a two-story building and will include 15,000 square feet for performing arts and communal gathering functions. The other 10,000 square feet will house programming and administrative space.

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Leasing ActivityNew JerseyNortheastOffice

TRAC Intermodal Signs 31,000 SF Office Lease in Princeton, New Jersey

by Taylor Williams

PRINCETON, N.J. — TRAC Intermodal has signed a 31,000-square-foot office lease in Princeton. The provider of logistics services is taking space on the third floor of the building at 600 College Road, which is part of the Princeton Point campus. Todd Elfand and Kevin Carton of Cushman & Wakefield represented the landlord, Nuveen Real Estate, in the lease negotiations. The tenant representative was not disclosed.

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AcquisitionsIllinoisMidwestOffice

Kohan Retail Investment Group Acquires 1.5 MSF Office Tower in Chicago

by Kristin Harlow

CHICAGO — Kohan Retail Investment Group has acquired 131 South Dearborn, a 1.5 million-square-foot office tower formerly known as Citadel Center in Chicago’s central business district. The purchase price of $137 million represents a 76 percent discount from the property’s 2006 sales price, according to Crain’s Chicago Business. The acquisition was completed alongside investment partners Alan Assil and Kevin Assil, whose partnership has supported the continued expansion of Kohan’s office portfolio. Kohan, which is based in Great Neck, N.Y., and led by Mike Kohan, owns and operates retail, office and mixed-use properties. A partnership between Angelo, Gordon & Co., Hines and Dearborn Capital Group acquired the property in 2016. It was completed in 2003.

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Life SciencesLoansMassachusettsNortheastOffice

Joint Venture Refinances 615,305 SF Office, Life Sciences Campus in Bedford, Massachusetts

by Taylor Williams

BEDFORD, MASS. — A joint venture between Anchor Line Partners and Alloy Properties has refinanced The Core at Crosby, a 615,305-square-foot office and life sciences campus in Bedford, a northwestern suburb of Boston. Berlin Hyp, the commercial real estate finance arm of LBBW, provided the debt for the nine-building campus, which is anchored by software provider AspenTech. Robert Griffin, David Douvadjian Sr., David Douvadjian Jr., Timothy O’Donnell, Edward Maher and Matthew Pullen of Newmark arranged the debt on behalf of the joint venture.

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AcquisitionsNew JerseyNortheastOffice

Kislak Negotiates $10M Sale of Northern New Jersey Office Building

by Taylor Williams

PARSIPPANY, N.J. — Locally based brokerage firm The Kislak Co. Inc. has negotiated the $10 million sale of a 131,346-square-foot office building in the Northern New Jersey community of Parsippany. The building sits on an eight-acre site at 959 U.S. Route 46. Tom Scatuorchio and Matt Weilheimer of Kislak represented the buyer and seller, both of which requested anonymity, in the transaction.

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AcquisitionsMarylandOfficeSoutheastTop Stories

Roadside Development, Hudson Bay Capital Acquire 600,000 SF Office Complex in Bethesda, Maryland

by John Nelson

BETHESDA, MD. — Development and investment firm Roadside Development and global alternative asset manager Hudson Bay Capital have acquired Bethesda Towers, an office campus situated in downtown Bethesda. The sales price was not disclosed, but the Washington Business Journal reports that the complex had an assessed property value of roughly $86 million, according to records with the State of Maryland. Moore & Associates sold the property and will continue to oversee property management on behalf of the new ownership. Moore & Associates acquired Bethesda Towers, which was originally built in the 1970s, in 2005.  Totaling roughly 600,000 square feet, the campus comprises three office buildings and is walkable to attractions including Bethesda Row, the Capital Crescent Trail and the Bethesda Metro Station. The buyers plan to reposition the development over time but did not release any specific plans.  “The Bethesda Towers campus presents a large-scale parcel with the potential to become a unique and transformative place at the gateway to Bethesda,” says Jeff Edelstein, president of Roadside. “We’ve had our eye on the property for quite some time, and it will be a great collaboration with our partners at Hudson Bay Capital.” Mychael Cohn of Cohn Property Group represented Roadside in the …

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