New DFW multifamily projects are taking a long time to stabilize, using 90% occupancy as the benchmark, and some properties that delivered in 2016 or early 2017 are still working on initial lease-ups.
Today, the bank opened its first branch location at 865-875 Providence Highway in Dedham. The firm also is offering a sneak peek of its new branch at 425 Washington St. at the corner of Washington and Winter streets in Downtown Boston that will open for business next month.
“Westmount is bullish on the Midwest industrial market,” says Clifford Booth, president and CEO of Westmount. “We're actively seeking value-add and opportunistic investments in select markets across the US.”
The site of the Mitchell Brothers' O'Farrell Theatre is on the market at $10 million or can be leased for a monthly rent of $39,000, but the property is attracting residential developers, says the exclusive broker.
Rising office rents and a strong economy have fueled owner-user demand, but with limited supply, there aren't many options for small businesses to purchase office space.
Seattle and Bellevue are experiencing sub-6% vacancy rates, along with falling and record lease rates, while the average cost of space in the Southend market is 39% to 43% below Eastside and Seattle full-service rents.