HERNDON, VA--Construction on speculative, five-story, 120,000-sf office building would start next year. Asking rents will run in the mid to high $30/sf.
Asking rents for the speculative building will be in the mid to high $30/sf, says Terry Reilly, an Insignia/ESG broker representing CFC. "They have additional land. The market is good. Now's as good a time as any to build it out," he says.
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All 877 units will be set aside for those making 60 percent of the area's median income under the renovation.
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The biggest average interest rate spread was for hospitality at 296 basis points.
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The entity of Bridge Investment Group said that the funding will give its investment strategy a boost.
