Leasing

Syska Hennessy Group, currently located at 1515 Broadway, will occupy the entire fourth and fifth floors of the 1.1-million-square-foot building.

The retail landscape is indeed evolving and there will be pain for those that don't adjust.

The negative publicity caused by the struggle of Applebee's has changed how investors view the sector.

The building has been a hit with office tenants, including Bank of America, which has also agreed to finance the trophy property.

“Proven rent premiums for redeveloped units in this market make the community an excellent opportunity for a value-add addition to our portfolio,” says Wilkinson Corporation's George Waymire.

"We do believe there is considerable value to add through investments in social, recreational, and business amenities,” says Steve Card, principal and regional director, Mid-Atlantic, for Rubenstein Partners.

Submarket tightness has resulted in Asia Cabinetry Inc. not only staying put in a renewal but also expanding its headquarters location to 41,458 square feet at 7875 Northcourt Rd.

“The Hub” development is expected to support a live/work/play environment close to existing corporate, medical, and academic research activity, and near housing, retail and public transportation assets.