News

JLL marketed and brokered the transaction for the property that is anchored by Big Lots and a new The Edge Fitness Club.

The offering marks JLL Income Property Trust's first entry into the 1031 exchange sector.

The TOBY award in the category in the 100,000- to 249,999-square-foot office building category, will be bestowed to Transwestern Commercial Services, which provides leasing and property management services for the 228,350-square-foot property.

NAI Mertz, which has its regional office based in Mount Laurel, NJ reports that brokerage team of Rebecca Ting, SIOR, senior vice president, and Julie Kronfeld, SIOR, vice president, recently completed two leases totaling 9,620 square feet at the properties.

Construction of phase one is expected to begin immediately and will include 283 premier independent living, assisted living and memory care units.

CRE tech Investors are strict about profitability with growth as the cherry on top as the ten-year market bull run slows.

The transaction is dated to close by year-end, subject to customary closing conditions.

The new Observatory completes the third-phase of the building's $165 million Observatory Experience project.