The opportunity in many of the locations for a single-tenant net lease investment provides attractive long-term rental rates and built-in traffic patterns.
“The presence of a high-volume grocer, exceptional demographics and a visible location—in the retail heart of a busy Northeast Philadelphia neighborhood—makes Morrell Plaza an attractive place to conduct business,” says Levin Management's Sidney Singer.
Onsite amenities include a state-of-the-art fitness center with all-new training equipment and a private yoga studio, adjacent to new locker facilities.
JLL predicts flex space will comprise about a third of the market by 2030, compared to less than 5% today, and this concept can be found in North Texas, where a new co-working tenant inked space.
Simone Healthcare, an affiliate of Simone Development Companies, plans to renovate the four-story 104 Corporate Park Drive office building in Harrison that will be fully leased to Montefiore Medical Center.
Google has signed a 15-year 362,000-square-foot lease at the ground-up redevelopment of Boston Properties' 325 Main St. office building in Kendall Square.
The properties attracted strong interest and multiple offers, says Marcus & Millichap's David Bradley, demonstrating that the market remains strong while rents keep rising.