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Upon the acquisition close, VICI entered a triple-net master lease agreement with Century under lease-terms that include an annual rent of $25 million and with an initial term of 15 years, with four 5-year tenant renewal options.
The 23,746-square-foot property features 32 residential units and one commercial unit. On the ground-floor is Corner Social Bar & Restaurant, a well-known staple and gathering spot in the neighborhood.
The locally-based REIT states that sales during that prime selling period set up their recently opened redevelopments—Fashion District Philadelphia, Woodland Mall and Plymouth Meeting Mall—for a strong holiday season.
The NorthSide Regeneration is a 1,500-acre mixed-use development led by McKee and his real estate development company M Property Services to revitalize blighted North St. Louis City.
Previously headquartered in Parsippany, the firm's relocation to 111 Littleton allows the company to streamline operations and increase efficiency for their team's ability to service existing and new customers, NAI James E. Hanson states.
New Jersey Department of Environmental Protection Commissioner Catherine R. McCabe and New Jersey Economic Development Authority CEO Tim Sullivan joined Paterson Mayor Andre Sayegh at the Great Falls Visitor Center to launch the Community Collaborative Initiative program in Paterson yesterday.
Slated to open in 2020, Target leased 33,000 square feet from Tishman Real Estate Services for the small structure, a fraction of the size of its typical stores.
The seller was a joint venture between affiliates of DRA Advisors and DLC Management Corp. Matthews Real Estate Investment Services represented the seller in the transaction.