August – Briefs/Leasing & Management
- Jul 29, 2013
NGKF Tapped by LNR for 5.2 MSF Industrial Gig
LNR Partners has selected Newmark Grubb Knight Frank to handle the leasing and management assignments for the 5.2 million-square-foot, 10-building StratREAL Industrial Portfolio II. Five of the properties are located in Memphis (2.9 million square feet); three are located in Columbus (1.5 million square feet); and two are located in Woodlands, Calif., (800,000 square feet).
LNR Partners, which is special servicer to the ownership, has worked with Newmark Grubb Knight Frank and its predecessors for more than 20 years.
Bussel Completes 160 KSF Industrial Lease in NJ
Bussel Realty Corp. has found landlord Templer Associates Inc. three new tenants for its 195,000-square-foot industrial building located at 1000 Jefferson Ave. in Elizabeth, N.J. I&L Distribution leased 38,000 square feet, McGinley Transportation Services took 52,000 square feet and Duro Standard Products signed for 70,000. The combined 160,000 square feet in leases bring the strategically located asset (next to Port Newark and Newark Liberty International Airport) to full occupancy.
DaVita Takes Space in Miami Science Park
National medical company DaVita has finalized a 20,000-square-foot lease at the University of Miami Life Science & Technology Park. The dialysis provider will occupy 20,000 square feet of office and clinical space within the fifth floor of the center’s first building, bringing its occupancy to 75 percent. Additional tenants include Advanced Pharma CR, Community Blood Centers of South Florida, Binder Biomedical, the University of Miami Tissue Bank and Specialty Telehealth Services.
The Saywitz Co. Closes Two California Leases Totaling 233 KSF
Privately held brokerage firm The Saywitz Co. has negotiated two leases totaling 233,108 square feet in size and $18 million in value. The first was a renewal on behalf of Two Chefs on a Roll, a manufacturer and distributor of custom food products for restaurant chains. The company renewed its headquarters facility lease at 18201 Central Ave. in Carson, Calif. The 11-year contract for 91,108 square feet was valued at more than $10 million. The landlord, The Carson Cos., represented itself in the transaction. The second deal involved Radiant Logistics signing for a sublease of 142,000 square feet of industrial distribution space at 2701-2705 El Segundo Blvd. in Hawthorne, Calif. Space Exploration Technologies (SpaceX) took the space and was represented by Fisher & Co.
Cassidy Turley Signs 2013’s Largest Lease in Western Greenwich
Cassidy Turley has negotiated a 24,953-square-foot lease with Corporate Executive Officers (CEO) at 75 Holly Hill Lane in Greenwich, Conn. The deal represents the largest lease in the Western Greenwich submarket year-to-date. CEO is the first major tenant since ClearRock Properties took ownership of the building and implemented a $6 million renovation. CEO is relocating from 2 Greenwich Office Park, where it currently occupies 15, 0000 square feet.
JLL Signs Weather Channel in NYC
Jones Lang LaSalle Inc. has completed a new direct lease for building owner Silverstein Properties with the Weather Channel at 1777 Avenue of the Americas in Manhattan. The broadcast organization signed up for a 10-year lease for 30,626 square feet of space at the 1 million-square-foot Class A building. The Weather Channel will occupy the entire sixth floor of the tower, which is located on Sixth Ave. between W. 45th and 46th streets. Including the Weather Channel deal, Jones Lang LaSalle Inc. has inked five transactions at the property totaling 150,000 square feet.
Medical Practice Signs for 85 KSF in Westchester
WESTMED Medical Group has signed an 85,000-square-foot lease at 3030 Westchester Ave. in Purchase, N.Y. The building is currently under construction by Simone Healthcare Development and Fareri Associates in the Harrison Executive Medical Park complex. Once complete, the space will serve as WESTMED’s fifth full-service outpatient medical office.
RFR Signs a Trio of Leases in Manhattan
RFR Realty L.L.C. has completed a trio of office leases totaling 39,020 square feet at 757 Third Ave., a 500,000-square-foot asset located in Manhattan’s Grand Central District. The largest deal involved Epiq Bankruptcy Solutions L.L.C. taking 28,036-square-feet on the third and seventh floors. Real estate developer Omini Development Inc. and Astoria Federal Savings and Loan Association took 5,700 square feet on floor seven and 5,284 square feet on floor 19, respectively.