You can never be too careful when signing a lease for commercial office space and failure to do your due diligence can lead to problems. For instance, the wrong space can hurt your business if it’s difficult for your clients to access your building or if you don’t have the amenities you require. To minimize the chances of these (and other) disasters occurring, consider asking your commercial property managing agent the following questions: 1. What happens if the space isn’t r
Markward Group leases 61,157 s/f to VYC Tires
Allentown, PA — Markward Group of Allentown, recently leased 61,157 s/f of space at 7072 Snowdrift Rd., to VYC Tires, Inc.
Ethan Medgie, of Markward Group, represented the tenant, while the landlord, DCT Industrial Trust, out of Maryland, represented itself.
Markward Group leased 1,250 s/f of space in the Lehigh Valley Office Plaza, located at 1150 Glenlivet Dr., just off of Rte. 100, to Simply IT, who provide small to medium
BROOKLYN, NY — Acadia Realty Trust and Washington Square Partners, co-developers of City Point, announced that Fortina, the brainchild of chef, Christian Petroni, has signed a 15-year, 4,612 s/f lease to bring “straight forward Italian food” to the 1.8 million s/f, mixed-use destination in Downtown Brooklyn. Slated to open in the Fall of 2016, Fortina will be housed alongside DeKalb Market Hall, Brooklyn’s largest food destination, to serve residents, Downtown Brooklyn’s work
New Castle, DE — Location Realty Advisors’ Chris Castagno represented Delaware Board of Trade Holdings, Inc. aka “Delaware Stock Exchange” in a long-term lease transaction for office space at the Hercules Building at 1313 N. Market St. in the Wilmington, Delaware CBD. The landlord is D.C.L. Leasing Partnership, Ltd – VI, a group that includes McConnell Johnson Real Estate.
The Delaware Board of Trade (DBOT) will occupy about 11,000 s/f of the 8th Floor executive office space
BALDWIN, NY — Breslin Realty announced the signing of a long term lease with Ace Hardware for 12,862 s/f of space in the Baldwin Harbor Shopping Center, located on Atlantic Ave., in Baldwin, NY.
Ace Hardware is a paint, lawn and garden, tool, and general home improvement store that has over 4,600 locations, and does over $13 billion in retail hardware sales annually.
The new event of Stop & Shop taking over the former Waldbaums supermarket will add to the success of the re-
GLOUCESTER COUNTY, NJ — MSC Retail announced two lease transactions with KicksUSA, a specialty retailer offering a wide range of athletic footwear and urban family apparel. Kicks will occupy 5,202 s/f in Deptford Mall, located in Gloucester County, with a grand opening planned for September 2015. Also, in July 2015, the brand opened a new 3,809 s/f store in Willowbrook Mall, located in Wayne, NJ. Stanton Brown, senior vice president of MSC Retail, represents Kicks as its grow
REHOBOTH BEACH, DE — Jack Lingo Asset Management (JLAM) announced that it has entered into leases with national retailer Bed Bath & Beyond, specialty grocer The Fresh Market and convenience store Wawa which will be located on Rehoboth Gateway, JLAM’s new $20 million retail center in Rehoboth Beach, Delaware.Bed Bath & Beyond, the country’s leading retailer of domestics merchandise and home furnishings, was represented by Les Sax of Sax Realty and David Orkin of CBRE/RAS Broke
SOMERSET, NJ — On behalf of Iberia Foods of New York, Binswanger announced a long-term lease of 82,181 s/f of distribution space at 95 Clyde Rd. in Somerset.
After a multi-market search for an expansion of their Mid-Atlantic distribution operations, Iberia Foods selected Cabot II-NJ M01, LLC’s Somerset facility to support over 10,000 supermarkets, club stores, wholesalers and distributors on the East Coast that the company services.
Constructed in 1980, key features of th
Here we are working, some of us, through the dog days of summer in the commercial real estate world. I remember early on in my career, whenever that was, some wily Veterans would tell me to take the summer off since nothing happens anyway. I could never get myself to buy in that approach other than taking a little more time off every summer. My daughter is renting a house in the Hamptons for the summer makes those words of wisdom in the past resound even louder. I am hearing
RICHMOND, VA — Gerald S. Divaris, chairman and CEO of Divaris Real Estate, Inc. (DRE), announced the signing of four leases totaling over 25,000 s/f of office or flex space in Richmond. All leases were handled out of DRE’s Richmond office. SignScapes, Inc., leased 12,000 s/f of office/warehouse space at 7519 Ranco Rd. With this lease, the company moves into larger office and production space within the same complex. DRE’s Brett McNamee represented the tenant in the negotiat