“Space utilization and efficiencies are important to all industrial tenants today as they focus on increasing profits in a competitive market,” says Avison Young's Todd Heine, who helped Fleetwood reduce its overall space with the new lease.
A CBRE analysis found 24 conversion projects from California to Baltimore as retail closures yield industrial opportunities, including 810,000 square feet of potential conversions in Chicago.
The property is in a densely developed area on the employment-rich north side of Indianapolis, a demographic that presents strong opportunities for Emma Capital, says the firm's asset manager, Brian Rakowski.
Punch Bowl Social has leased 23,038 square feet of retail space in the Scarbrough Building, a historic office tower located at 522 Congress Ave. at 6th Street, for a new Austin-area location.
Among some of the other major retail tenants at the development include Whole Foods Market, which will be opening a 69,000-square-foot location at the property. The location will be its largest in the DC Metro.