The groundbreaking ceremony followed last month's announcement that National Realty Investment Advisors and U.S. Construction closed on a $73-million loan from CIM to begin construction on their Ocean Delray development.

The plans will support efforts to attract community-supported Opportunity Zone investments, build investment readiness, and help the respective communities to meet their goals for Opportunity Fund investment.

The deal, announced by CBRE Capital Markets' Debt & Structured Finance team, is for the Jersey City-based real estate developer's The Charlotte project, which will feature 750 units at 25 Christopher Columbus Drive in Jersey City.

With the sale-leaseback agreement, Transformco, the parent company of Kmart and Sears, continues to occupy the property to operate its main distribution center for the entire Southeast US that support Sears, Kmart, and Hometown stores.

The Phoenix-based firm reports it has acquired One Crescent Drive, which totals more than 76,000 square feet and the 80,050-square-foot 201 Rouse Boulevard office building from Liberty Property Trust.

The LINK Evanston features contemporary, open-concept apartments that include studio, one-, two- and three-bedroom floor plans ranging in size from 400 square feet to 1,100 square feet.

"There was great interest in this asset given its location and current use," Cruz said. "It's a rare opportunity to acquire a property with long-term flexibility and optionality that can support logistics, storage and other uses in the Metro park submarket."

Relocating from another Newark property, Project for Empty Space, a hub for multidisciplinary creative engagement, will have multiple galleries and exhibition areas, as well as amenitized studios at its new offices at 800 Broad St.