Newmark Knight Frank arranged the $44.3 million floating-rate loan for Miami City Self Storage to refinance three self-storage facilities in Southern Florida
"Based on what we know today, I think we will see the employment picture turn negative, but it is doubtful that the impact on growth and the number of jobs lost would be as severe as the Great Recession."
Three attorneys reported either a pause or a flat out cancellation of a total of seven real estate deals, although more than likely a lot more transactions aren't closing.
IIP entered into a long-term, triple-net lease agreement with a subsidiary of Parallel, which intends to continue to operate the property as a regulated medical cannabis cultivation and processing facility.
The 345,000-square-foot mixed-use development is on track to open in the first half of 2020 and developer Andrew Hellinger answered some questions about the project's path to market.
Buildings that previously housed banks tend to be popular as they already have secure structures that comply with the cannabis industry's unique security provisions.
"Construction projects always have a 'time for completion' component and many contractual provisions may certainly come into play in any construction project which is affected by labor shortages from the coronavirus."