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Normandy reports that it has raised more than $100 million in commitments to date, and capital raising will continue through 2020 for the Opportunity Zone Fund that has a target of $250 million in commitments.
The property, which was completed in October 2018, was sold by The Hanover Company of Houston for an undisclosed price. The firm's regional office is located at 2 Seaport Lane in Boston.
Commercial real estate has received an energy shot as the industry rushes to innovate the traditional antiquated process of architecture and design, motivated to attract and retain tenants in a world where customer experience and engagement are key to operational success.
Located 10 miles north of Philadelphia, Baederwood Shoppes on the Fairway is 94% leased. Its tenant roster includes anchor Whole Foods Market, as well as Planet Fitness, Panera Bread, Le Papillon Hair Salon, Massage Envy, Baederwood Pharmacy, Penn Community Bank and WSFS Bank.