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While noting that the college's current budget is balanced and its $52-million endowment has been strong, the harsh financial realities of small universities in the United States could not be ignored.
“The relocation and extension of the PBS lease is also indicative of our plan to retain and attract diverse industries to National Landing, including associations and non-profits.”
Middleburg says that it will continue to raise capital and add other assets and high net investors to the fund, which is expandable to $75 million and offers Middleburg the capacity to invest in approximately $250 million of assets.
Burlingame Point, an approximately 803,000-square-foot office campus currently under construction, has finalized an agreement with Facebook to lease the entire project.
“This is a stabilized office investment property with zero vacancy, occupied by strong credit tenants with long-term leases,” says John Abuja, IPA senior director.
“Although the financial markets were highly unpredictable, commercial real estate performed the way it has for most of the past several years – with steady growth supported by strong fundamentals,” says Jason Wolf, founder and managing principal of WCRE.
The acquisition continues "our strategy to acquire and hold high-demand industrial properties in the region,” says Peter Corcoran, vice president of leasing and development for Liberty's New Jersey office.
The developer is transforming a former office building in Downtown Manhattan to a residential property of studios and one-bedrooms to attract millennials and Gen Z.