“The Lehigh Valley has emerged as a new source for companies with large space requirements that also benefit from proximity to the region's major consumer bases,” says Brandi Hanback of the Rockefeller Group.
Robert Lachapelle of CBRE's Atlanta office, and Ann Cone of CBRE's FHA lending platform, arranged the 40-year, 100 percent non-recourse, fixed-rate loan on behalf of the borrower, CC NVB.
"The lease at 2 Clarke Drive not only met Experic's current size needs, but offers enough room to accommodate the company's expansion,” says Cushman & Wakefield's Todd Elfand.
"AREP is actively working on additional acquisitions to complement its growing portfolio in the market," says Paul Schulman, AREP principal and chief operating officer.
The four-story 139,431-square-foot building, estimated to cost approximately $56.3 million to complete, will be built on the southwest corner of Clark Avenue and 1st Street on a one-acre parcel.
The acquisition will add 300 highly skilled technology experts—many recruited, trained and certified through ValuD's unique university partnerships—to JLL's specialized technology solutions team around the world.
In the past six months, Chevy Chase, MD-based FCP has sold the final 2,661 apartment units in the St. Charles portfolio to multiple buyers for a combined sale price of $435.3 million.