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The new three-year lease transaction at the 340,000-square-foot property fills Boston-based Plymouth Industrial's largest vacancy in its portfolio and raises the property's leased rate to 76%.
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 commencement of vertical construction at Alta Headwaters now makes three projects the firm currently has under construction in Orlando, with three more slated to start before the end of the year.
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.
Following the CDI process, CTA will develop a request for proposals from potential developers, reflecting the outcomes of the planning process, including community desires and feasible concepts.
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.
The deal announced today calls for Hudson's Bay Co. to receive $ $75 million in cash upon the transaction's closing and a secured promissory note for $25 million payable in cash after two years.
Freehold will lease the properties to Curaleaf pursuant to a long-term, triple-net lease. The company also has the right of first offer to purchase additional properties from Curaleaf as its preferred real estate partner.