This property was once known as a Superfund site and it ranked number five on the Environmental Protection Agency's National Priorities List. Years of effort have allowed the developer, National Development, to reclaim the contaminated property and convert it into a commercially viable development.

Insignia/ESG is in charge of marketing and asking rents are in the mid-$30 per sf range. When the company first began marketing space in other buildings in this complex two years ago, rents were in the low $20s per sf.

Plans for the complex include 200,000 sf of retail space anchored by a Target Department Store. There are also plans for a 150-room hotel, 2,400-vehicle commuter rail station and 1.3 million sf of office space.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.