The 661,741-square-foot building, to be delivered in Newark before year-end, will provide modern bulk warehouse space with superior proximity, accessibility, flexibility and visibility.
Amanuel Mekonen, left, of Greystone & Co. sees investment money coming to Philadelphia from New York, while Christophe Terlizzi of KeyBank says the bank likes value-add multifamily projects.
While the supply of flex workspace centers in Texas grew 12% from 2017 to 2018, more than the national average, the flex cost-per-desk decreased in Austin and Dallas in the first half of 2018.
Following the Chicago-based firm's purchase of 50 Post Office Square in December 2015 for a reported price of more than $290 million, the firm's capital improvements at the property have paid dividends.
“We are seeing more foreign capital purchase assets in the Philadelphia region, which is driving up pricing," says Ken Wellar, managing partner of RRA.