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CPPIB will have a 45% ownership interest in the Platform 16 joint venture. Boston Properties will retain the remaining 55% ownership stake and provide development, property management and leasing services.
Dick's Sporting Goods and Burlington opened new locations at the shopping center in late September. These new storefronts drove increases in shopper traffic within the mall by more than 40% during the opening weekend, PREIT reports.
The 0.832-acre parcel is a transit-oriented infill site that is zoned for mixed use development, according to JLL, which brokered the transaction between Bijou Properties and the seller Kensington Senior Living.
Real Estate Forum is seeking professionals and firms who have helped shape the CRE finance industry. The nomination deadline is fast approaching at October 11th.
Skanska USA Commercial Development's Dr. Joshua Harris talked micro-urbanism, tech trends, the idea of space as a service and more during the CREW Network Convention here Thursday afternoon.