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"Northerners and other homebuyers are not just purchasing second homes; they are bringing businesses and moving here full time," says MIAMI Chairman of the Board José María Serrano.
At Douglas Hall, the project will include building envelope stabilization, and structural, infrastructure and technology capital improvements that will support the new nursing simulation laboratory within Douglas Hall.
The project, which is scheduled to be completed in November 2020, has already secured a 130,000-square-foot lease with global private market asset management firm Hamilton Lane, which will begin occupancy of its space at the property in 2021.
The new mixed-use project will feature a host of on-site tenant amenities, including an elevated outdoor courtyard with gardens and a sun balcony, a 1,500-square-foot fitness center and a resident lounge.
American Water also announced it had reached an agreement to sell its Keystone Clearwater Solutions operations of Hershey, PA to SC Water LLC, a College Station, PA-based natural gas and oil industry investment group.
The EQ Office-owned building is situated in the heart of the Financial District. Local brokers expect the 354,208-square-foot office property could sell between $212 million to $266 million.
Small and local retail tenants are starting to kick tires as they become attractive to landlords who were once interested in leasing to national tenants.
The demolition includes a technique that requires hardening the existing 29-year-old building's elevator shafts to create debris chutes to allow for easy removal of the structure.
The proposed 22-acre project has been stalled with the city planning board for more than a year in part over concerns about affordable housing and gentrification.