Despite approximately 8,200 units in the pipeline in the Jacksonville area, including half in the highly sought-after Baymeadows and Southeast markets, the multifamily vacancy rate is expected to remain below 5% through 2019.
Given Seattle’s strong hospitality market and residential development community along with WhyHotel’s relationship with Avalon Bay, it made sense to open its next location in Seattle.
American Specialty Health leased approximately 164,000 square feet of class-A office space in Heritage Commons IV, which provides the unique ability to be fully operational from day one when it moves in next month.
PREIT says it has recognized the growing demand in this segment and has strengthened its portfolio to include a variety of health-oriented concepts, most recently incorporating Onelife Fitness at the Valley Mall, Peloton at the Cherry Hill Mall and Edge Fitness opening this fall at the Plymouth Meeting Mall.
The rationales for owning retail properties have been capsized in the rising tide of red ink and markets need less of it and rents need to recalibrate down. So how will it all shake out?