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The agreement also calls for GE to reimburse MassDevelopment $87 million, which include the purchase the two brick buildings and land as well as construction and other financing costs.
The properties attracted strong interest and multiple offers, says Marcus & Millichap's David Bradley, demonstrating that the market remains strong while rents keep rising.
The 661,741-square-foot building, to be delivered in Newark before year-end, will provide modern bulk warehouse space with superior proximity, accessibility, flexibility and visibility.
David Barry's gigantic multifamily rental complex in Staten Island received a Fannie Mae loan which replaces the original $100 million construction loan.
The Hampshire Companies and Harrison Street say they plan to announce several additional self-storage development projects in the coming months in the aforementioned Boston to Washington, DC corridor
The project now named The Green on Campus Drive, reportedly valued at approximately $100 million, will consist of five buildings with 1,605 beds—single-occupancy rooms for residents—as well as a parking structure.
Google's expansion will enable the creation of more than 10,000 new construction jobs in Nebraska, Nevada, Ohio, Texas, Oklahoma, South Carolina and Virginia.
Following the Chicago-based firm's purchase of 50 Post Office Square in December 2015 for a reported price of more than $290 million, the firm's capital improvements at the property have paid dividends.