Original Southeast commercial real estate news & events for Atlanta, Carolinas, Memphis, Miami, Nashville, Orlando and Washington D.C. metro area; plus expert insights, commentary and analysis into secondary and tertiary regional and local markets.
The development will incorporate 233 residential units, 25,000 square-feet of retail, 5,300 square-feet of office space, and a 4,000 square-foot event space.
Reonomy also reports that as of July 2018, there has been an acceleration of price appreciation in non-Opportunity Zone assets and a deceleration of price appreciation in Opportunity Zone assets.
Buildings now compete differently than they have before, says Linda Aronson, JLL's regional manager for property management for the New York Tri-State market
Tenants at the 302,346-square-foot property include Ross Dress for Less, TJ Max, Old Navy, Michaels, Petco, Five Below, Bed Bath & Beyond, Panera Bread, Planet Fitness and Olive Garden.
New York City-based commercial real estate financing firm Hunt Real Estate Capital provided both loans. Both loans will amortize over 40 years and include two years of interest only.
Discovery Labs is targeting major markets across the US and also has several international locations in its plans as well. Target domestic markets include: Boston; New York City; Northern New Jersey; Washington, DC; Raleigh-Durham, NC; Chicago, Houston, Austin, San Diego, Los Angeles, San Francisco and Seattle.
Boston Properties' new development at 325 Main is replacing an existing four-story commercial office and retail building at the site, formerly known as 3 Cambridge Center. The new building comprises approximately 375,000 gross square feet of new office space and 42,000 gross square feet of retail space at the lower levels.
Designed by CallisonRTKL, phase one of the project includes a 14-story, Class A, state-of-the art office building totaling 291,129 square feet; 135 multi-housing units, 34 ground level/loft apartment units and 101,439 square feet of retail space.