When you think of mixed-use properties that have the potential to boom – you think of spaces that are amenity-rich to drive interest from consumers. Usually, that's office developments surrounded by various entertainment or multifamily with retail. However, Regal Ventures is testing a bit of an unorthodox strategy by teaming up with BenchmarkReal Estate to create a condominium structure.
The 218,410-square-foot property, called Crownwood Industrial Estates, is located in Bristol PA, and features three buildings. One of which takes up 112,348 square feet of space and was described by Regal in a statement as an "industrial-sector variant of a condo ownership structure." Additionally, there is a 100,170-square-foot fully entitled development site in the works in the Crownwood portfolio purchased.
But there are a couple of reasons in particular why the investment manager decided to pull the trigger on Crownwood.
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