Koeppel Rosen LLC, leasing and management agent for the Rosen family portfolio, secured five new office leases totaling 15,474 square feet at 1261 Broadway, an 11-story building in Manhattan’s Midtown South neighborhood. The leases included the following:

• Abell Eskew Landau LLP signed a new 7772-square-foot lease in a relocation from its previous space at 265 Fifth Ave. The law firm was represented by Nick Farmakis and Jordan Weiss of Savills.

• Law firm Hunter Cottingham PLLC signed a lease for 4,599 square feet. Robert Yaffa of RDY Advisors, LLC, and Claire Koeppel of Newmark represented Hunter Cottingham.

• Joseph J. Blake and Associates, Inc., a real estate appraisal and valuation firm, leased 1,467 square feet and was represented by Bradley Cohn of Adams & Company Real Estate.

• Nisso & Co Trading Corp., a wholesale jewelry distributor, leased 955 square feet.

• RSLT Capital Management LLC, an investment management firm, leased 681 square feet, represented by JD Cohen of Newmark & Company Real Estate, Inc.

“Tenants across a variety of industries are focused on securing efficient workspace in highly accessible Midtown locations,” said Max Koeppel, director of leasing at Koeppel Rosen, who represented ownership in-house for all five transactions. “Many tenants are finding that at 1261 Broadway, which offers flexibility, strong value relative to the market, and floor plates that work well for tenants in this size range.”

NAI Hiffman and Hiffman National, the firm’s property management and advisory services division, announced that Chicago-based fashion retailer AKIRA has executed a long-term lease extension for 202,105 square feet of warehouse space at 150 E. Crossroads Parkway, Unit A, in Bolingbrook, Illinois.

The extension allows AKIRA to maintain and expand its distribution operations in the Interstate 55 Corridor, one of the Chicago area’s premier industrial submarkets. The NAI Hiffman brokerage team of Dan Leahy and Dan O’Neill represented AKIRA in the transaction.

“This transaction reflects the value of a strategic, data-driven real estate approach,” said Leahy, executive vice president at NAI Hiffman. “By thoroughly evaluating both on-market and off-market opportunities, we were able to help AKIRA make a well-informed decision that supports its continued growth, automation implementation and operational efficiency in the Midwest.”

The extended lease allows AKIRA to maintain its established distribution footprint while supporting future expansion. The property is owned by Prologis.

Urban Innovations has signed more than 30 new leases, renewals, and expansions within the past six months, totaling more than 100,000 square feet in transactions.

“UI is committed to working with each business to provide flexible lease terms, growth and consolidation planning and fully furnished, desirable office suites where workers and employers alike can take pride in spaces that many consider to be their second home,” said Aaron Zaretsky of Urban Innovations.

Top transactions in the second half of 2024 include:

● A 28,624 square foot lease to SuperFile, a cyber security company. The tenant was represented by Sean Murphy of Office Space Chicago.

● A 2,105-square-foot lease to Digital marketing firm OpenX Technologies. The tenant was represented by Michael Pasquella of CBRE.

● A 4,770-square-foot lease to Array Behavioral Care, a telepsychiatry practice. The tenant was represented by Steve LaKind of Cushman & Wakefield.

● A 2,290-square-foot lease to Trident Experiential, an event planning firm. The tenant was represented by Craig Nadborne of Bradford Allen.

● A 5,427-square-foot lease to V3 Companies, an engineering and consulting firm. Kurt Kittner of JLL represented the tenant.

● A 6,784-square-foot lease to Engtal, an engineering and technology staffing specialist. The tenant was represented by Chris O’Leary & Megan Winter of Avison Young.

Lee & Associates has negotiated a 3,163-square-foot restaurant lease at Riverwalk Plaza, 175 W Jackson Avenue, Suite 223, Naperville, Illinois.

The landlord, Naper Limited Partnership, was represented by Michael Petrik, Associate, and Rick Scardino, Principal at Lee & Associates. The second-floor restaurant has been leased to U Sushi Club Rotary Sushi Bar. The premier downtown Naperville building offers on-site parking and is located adjacent to the Naperville Public Library and near the beautiful Naperville Riverwalk.

“We are excited to have a fun and exciting concept to breathe fresh life into a space that has provided downtown Naperville with sushi and Japanese food for decades,” said Petrik. “This concept will be new to the downtown area, and has seen great success in other markets, which we are confident will be replicated in this location.”

Lee & Associates negotiated the 4,669-square-foot sale of Buddy’s Bites and Brews at 702-718 N River Road, Mount Prospect, Illinois, for $1 million.

Both the seller, restaurant and hospitality operator Ala Carte Entertainment, and the buyer, Platinum Doors, were represented by Rick Scardino, Principal, of Lee & Associates. This is the sixth transaction Scardino has aided Ala Carte in over the years.

“This site became an extra unit for the Ala Carte portfolio after purchasing, renovating, and anchoring a well-positioned strip center near Rosemont a few years ago,” said Scardino. “The new owner plans to continue operating the unit as Buddy’s Bites n Brews but in time featuring live South American music.”

CBRE has negotiated the sale of Lexington Hills, a 168-unit multifamily community in Eagan, Minnesota, to Reacor Ltd. CBRE’s Ted Abramson, Keith Collins and Abe Appert represented the seller, Monument Frozen Tundra LLC, in the transaction.

“Lexington Hills demonstrates the continued interest in Twin Cities suburban multifamily. The capital markets remain active, and the stability in the ten-year treasury has taken away a level of uncertainty. Sentiment post-NMHC was very positive for forward fundamentals in the space, although there are some micro-location challenges due to supply,” said CBRE’s Abramson.

The property was built in 1988 and is located at 4116 Lexington Avenue South. It comprises seven residential buildings with studio-, one- and two-bedroom floorplans averaging 723 square feet. Lexington Hills sits on 16.51 acres and is situated close to several retail centers and recreation areas.

Connect Industrial Midwest 2024 will take place on March 5, 2024, at Joe’s Live in Rosemont, Illinois. Click here for more information and to register.