The lease extension transaction comes after Denholtz Properties completed last year a $500,000 capital improvement project at the two-story, 54,599-square-foot Class-A office building.
The redesign of The Green which will feature more than 2,000 individual plants, 20,000 pounds of natural, locally sourced stone, and 2,000 square feet of sodded lawn
The gaming board report later notes that the amount of profit relative to total development costs, inclusive of licensing and reconciliation fees, would be at best result in a 1% or 2% return annually, which is not an acceptable rate of return for a casino developer on a greenfield project.
Taurus Investment Holdings has acquired the Mezzo at Tampa Palms in the exclusive Tampa Palms community from Preston-Giuliano Capital Partners in a deal that calculated out to $173,529 per unit.
Approximately 40% of the building’s units are leased to Sonder, a short-term rental start-up in nearly 30 cities that recently surpassed a valuation of more than $1 billion.
The 21st Century Redevelopment Program was created last year in response to a number of demographic and economic trends that resulted in many suburban office parks and shopping malls becoming empty or underutilized.
With the addition of 1155 West Fulton S., WeWork currently has 13 locations open and announced in Chicago across Fulton Market, West Loop, The Loop, and River North.