Northeast

This year's approved state budget authorized PHFA to sell $3 million of state tax credits and use the proceeds to make awards for the development of mixed-use properties in commercial/retail corridors in Pennsylvania that are undergoing revitalization.

Achieve 24 Fitness currently operates in 13,000 square feet of space at the building as a fitness center and Digirad Corporation operates another 5,000 square feet.

The Innovation Challenge calls for municipalities and counties to partner with higher-education institutions and other strategic partners to consider groundbreaking approaches to build public-private and community partnerships, nurture entrepreneurship and upgrade infrastructure.

"There are especially attractive deals in the new construction space especially in high quality assets with a long term hold."

The 178,200-square-foot Class A property was sold by Westbrook Partners of New York City. Hines is headquartered in Houston, while Oaktree Capital maintains its headquarters in Los Angeles. Westbrook acquired the property in late 2017 for $72 million.

Very few concessions are being offered in large markets such as Providence, Riverside/San Bernardino, Sacramento, Minneapolis/St. Paul and Boston, with discounts on only about 5% to 7% of apartments.