Cushman & Wakefield reports that the recent signing of two anchor tenants at the property are clear signs that the rebranding initiative at the property is paying dividends.
The NJ Opportunity Zone Marketplace is an online portal to connect investors across the country with projects in New Jersey's 75 Opportunity Zone municipalities.
National Development and partner Charles River Realty Investors sold the 179,308-square-foot, three- building property, according to commercial brokerage firm Newmark Knight Frank.
The company states that 10 of the skilled nursing facilities sold are located in Nebraska. Four skilled nursing facilities were located in Iowa and one skilled nursing facility is based in Kansas. The 13 medical office buildings properties are all situated in Massachusetts.
CBRE forecasts the national flexible office space will expand to approximately 13% of office space by 2030, reaching up to 600 million square feet. Even in a low-growth scenario, CBRE sees flexible office space claiming up to 6.5% of the market by 2030.
Industrious' Chicago Ogilvie operations at the 1.46-million-square-foot building at 500 West Madison St. will increase from 46,500 square feet to 93,000 square feet, due to what the company states is "overwhelming consumer demand."
The $30-million redevelopment project is also home wholesale roofing distributor ABC Supply Co., Inc., which signed a 30,000-square-foot lease at the property in December 2019.
On Oct. 25, The Shredder, The Shellraiser and Nickelodeon's Skyline Scream, come to life when the Western Hemisphere's largest indoor theme park opens.
The 36-month, floating rate construction loan was provided by M&T Bank and was arranged by JLL for the 126-unit luxury project that broke ground on Aug. 28.