Premier Office commercial real estate news, analysis, trends and information including occupancy, rent, design, office space use and construction deals and players.
At 6.33 acres, the former world headquarters for American Airlines and American Airlines Federal Credit Union provides investors with a rare opportunity to redevelop the campus into perhaps a headquarters.
As millennials flock to live and play in Brooklyn and Long Island City, Queens, work space is also driving leasing activity, according to CBRE's latest office market reports.
The project's development agreement must still be approved by the San Francisco board of supervisors and signed by the mayor, a process which could be complete as early as October of this year.
Under the Community Development Financial Institution initiative, the NJEDA will make up to $15 million available to CDFIs to expand their capacity to provide financing to New Jersey small businesses. Applications for the program are expected to be available in September 2019.
As co-developers, Boston Global Investors, Eagle Development Partners of Stoneham, MA, EDGE and The Cogsville Group of New York City form the general partnership of the project, each contributing what the partnership terms as “significant capital.”
Other new tenants at the property as of 2019 include Brian Communications, Instructure, PromptWorks , Health Federation of Philadelphia, Armor, DLC Solutions, Wick Capital Partners and others.
Rose Orchard has recently been modernized and the tenant mix aligns with the firm's strategy of acquiring single-tenant corporate properties in key growth markets across the United States.