Katz and Shainker also denied Mack-Cali's earlier statement that Bow Street was seeking a "fire sale" of the company after it called for the removal of Mack-Cali CEO Michael DeMarco in a letter to shareholders last month.
Between three different locations, the facility will have the capacity to care for up to 3,000 patients and will be made fully operational in a series of phases in order to accommodate increased demand for care as quickly as possible.
The changes to Executive Order 107, which took effect immediately, will now allow Realtors to hold in-person appointments with individuals or families to view rea estate. Those appointments are now considered "essential retail business." The state is still barring open houses.
Columbia Pacific Advisors Bridge Lending provided the funding that will allow INDUSTRY GO to acquire 14-16 Burma Road and 150 Theodore Conrad Drive in Jersey City and convert them into 180,777 square feet of studio space.
The city's Health Department notes that the defined use and management of the site has not been determined as yet. The facility could be used to care for COVID-19 patients or to relocate low-acuity patients from area hospitals to open more beds at those facilities.
In addition, the REIT states that several planned portfolio sales will likely be delayed until later this year or next year due to the lack of financing available for hotel transactions.
"This suggests the average lease-up time for new speculative product following delivery in Chicago's industrial market is longer than other markets. This lease-up time will likely be extended further by the Coronavirus pandemic and ensuing economic response," Colliers states.
The largest transaction was the 21,895-square-foot lease extension with St. Joseph's Hospital at the 68,000-square-foot office building. Dentistry for Children also recently signed a new lease for 5,050 square feet at the complex.