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The first “Alexandria GradLabs” property will be located in San Diego at 9880 Campus Point Drive. The 98,000-square-foot project is scheduled to be delivered by 2020 and will be built at the Pasadena, CA-based firm's flagship San Diego property—Campus Pointe by Alexandria.
Industrial owners at the forum said they do not foresee an oversupply of inventory in the next two years and believe cap rates will settle at 4.5% or less this year.
Launched in 2017, the Tapestry by Hilton brand more than tripled its portfolio last year adding 14 hotels, , including its first in New York City—The Bernic Hotel New York City— and its first in the Chicago-area—The Rose Hotel Chicago O'Hare.
The project will be built on approximately10-acre site of the 184-acre property being developed by the Soffer family of Miami and the LeFrak family of New York City.