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The co-working firm tumbled downhill when it filed its IPO form to the Securities and Exchange Commission in August, ensuing a firestorm of criticism and ultimate withdrawal of the filing.
Construction has commenced on the $50-million arena that will be home to the Philadelphia Fusion esports franchise, one of 20 international teams competing in the Overwatch League.
The Bayonne development is comprised of several buildings, which include a new 218-key premium hotel, nearly 75,000 square feet of retail space, and 4,500 residential housing units.
Currently at 96% occupancy, the buildings are located in a densely populated adult and residential area of Monroe Township, offering very favorable demographics for tenants.
Class A buildings in proximity to NJ Transit train stations remained on the radar screen for office occupiers with space requirements. More than 95.0% of the leases completed during the first half of 2019 were concentrated in Class A buildings.
During a recent competitive bidding process, Cushman & Wakefield conducted tours with more than 15 potential buyer groups and received multiple offers for 1 Gatehall Drive.