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The convergence of the single-family rental, multifamily housing and build-for-rent asset classes was one driver behind the deal.
The union brings two major land developers together.
The judge is making the argument that the ruling should be applied nationwide.
The campus will feature over 1.5 million square feet of space with the initial buildings expected to come online later this year.
The money is to be used to aid Klein in continuing its strategic expansion on the East Coast.
The buildings sold at the submarket's highest price per square foot, suggesting increased investor confidence.
The 1.7 million-square-foot skyscraper is now 79% leased.
"The transaction provides Equity Commonwealth with a high-quality, net-leased industrial business with stable cash flows, says Chairman Sam Zell.
They can't make the pain of paying capital gains taxes completely disappear, but they offer some solace.
Austin, Boston, Dallas, Atlanta and New York City are the top five destinations.