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The property was 100% occupied upon syndication with 12-month leases. The initial total offering price was $91.8 million, of which approximately $38.5 million came from investor equity.
The first BrandBox location will open this weekend at Tysons Corner Center with Winky Lux, Naadam, Interior Define, Nectar Sleep, DKNY, and UrbanStems as participating retailers. Additional locations are expected to open in 2019 at select Macerich properties.
The fulfillment provider is relocating operations from 235 Barnum Road in Devens where it occupies 184,077 square feet. The lease deal was announced by brokerage firm Newmark Knight Frank.
Pending single-family homes sales have been higher for 12 consecutive months, while pending sales in the condominium sector have been down or flat four out of the last 12 months, according to MAR.
The Westchester County, NY-based firm reports that Argent Ventures of New York City will open a 20,000-square-foot location on two floors at Westchester One in Downtown White Plains in the second quarter of 2019.
The land acquisition was fueled by a period of sustained economic growth in the Charlotte area as well as continued residential and commercial growth along Kannapolis Parkway. No terms of the transaction were reported.
Academy on Vine is located on a 3.5 acre, full-city block that was acquired from The Academy of Motion Pictures Arts and Sciences in 2013. The project will include three office buildings and a 20-story residential tower.
Brookfield also reports that it plans to undertake capital improvements at the iconic property that will include improvements to the lobby, a transformed public plaza and the addition of premier amenities.
The Pacific Oak Companies will work together to facilitate the acquisition, disposition and management of commercial real estate and commercial real estate related investment products.