News

National Development and partner Charles River Realty Investors sold the 179,308-square-foot, three- building property, according to commercial brokerage firm Newmark Knight Frank.

The REIT's new index data plans to close the supply-demand gap by highlighting potential investment opportunities in the sector.

The assets will serve as the foundation for building a large diversified industrial net lease portfolio.

The firm marketed 950 L'Enfant Plaza on behalf of the seller, Normandy Real Estate Partners.

The company states that 10 of the skilled nursing facilities sold are located in Nebraska. Four skilled nursing facilities were located in Iowa and one skilled nursing facility is based in Kansas. The 13 medical office buildings properties are all situated in Massachusetts.

CBRE forecasts the national flexible office space will expand to approximately 13% of office space by 2030, reaching up to 600 million square feet. Even in a low-growth scenario, CBRE sees flexible office space claiming up to 6.5% of the market by 2030.

Industrious' Chicago Ogilvie operations at the 1.46-million-square-foot building at 500 West Madison St. will increase from 46,500 square feet to 93,000 square feet, due to what the company states is "overwhelming consumer demand."

The $30-million redevelopment project is also home wholesale roofing distributor ABC Supply Co., Inc., which signed a 30,000-square-foot lease at the property in December 2019.