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.
At closing, the venture will acquire an initial portfolio of assets of approximately 6.9 million square feet of operating properties and 371 acres of land from Prologis' balance sheet with a commitment to build out the existing land bank.
The 50,978-square-foot building— DEA - Upper Marlboro—is a modern, Class A laboratory 100% leased to the GSA and occupied by the DEA, which serves as the DEA's Mid-Atlantic regional laboratory.
During the period in which PointOne Holdings owned and operated the property, occupancy increased from 90 to 99% and average effective rents increased by 22%, from $747 to $912 per unit per month.
Among the stores targeted for shut down include two locations in Manhattan at 2008 Broadway on the Upper West Side and 635-641 6th Ave. in Chelsea. According to the two stores' respective website, both locations have already been permanently closed.