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The 93-unit Vincent's Village community will be developed by the Sisters of Charity Housing Development Corp. of Staten Island and Rockabill Development, LLC of New York City.

Columbia Property Trust completed a significant repositioning of the campus in advance of the sale. Those efforts helped drive 460,000 square feet of leasing at the property since early 2017, replacing the original anchor tenant with no downtime and returning the full property to 100% leased.

Four markets in the State of Florida ranked among the top 15 in the nation for multifamily rent growth, the most of any state.

Built in 1973 and renovated in 2008, anchor tenants include a recently renovated ALDI, Ross Dress for Less, dd's DISCOUNTS and Big Lots.

The property offered "a great opportunity for investors to buy a core-plus building at an attractive basis with upside in one of the best locations in Center City Philadelphia," says HFF's Mark Thomson.

Capital investment continues to drive rental growth and leasing activity in New Jersey, says CBRE's Adam Englander.