Commercial brokerage firm JLL reports that Whitley Capital expects to break ground on the first phase of the project in early 2020.

The project is a joint venture with The McKinney Fund & Company, with Central Bank of St. Louis and Central Bank of the Midwest providing the construction financing for the project.

Construction is already well underway on the 121-unit first phase that is scheduled for delivery in the fourth quarter of 2020. Boca Raton-based El-Ad National Properties is company of Elad Group of New York City.

Resinski will lead BOMA as it prepares to serve as host city for the 2020 BOMA International conference, a four-day event attracting thousands of commercial real estate professionals nationwide to Philadelphia.

According to a report released by commercial brokerage firm Cushman & Wakefield, the statewide industrial vacancy rate hit a record low of 3.3%, while asking rents ended the second quarter at $9.27-per-square-foot), a record-high.

The deal involves the 101-acre property that includes 824 developed homesites of which approximately 46% are occupied.

The ownership secured $550 million in financing to develop an additional 300,000 square feet at the iconic 463,114-sqiare-foot luxury shopping center. The expansion will include a 57,414-square-foot space to be occupied by Barneys New York, which will be Barneys' only flagship store in the southeastern United States.

Last week, CBRE Group announced it intends to acquire all the issued and to-be-issued shares of Telford Homes Plc., a leading developer of multifamily residential properties in London, with a development in-process portfolio (total project cost) of $1.66 billion (£1.32 billion).