News

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.

The 140-acre Chesterbrook Corporate Center, situated off Route 202, is currently more than 80% occupied.

The new joint venture plans to begin construction in September on a three-story, 98,000-square-foot, climate-controlled self-storage facility at 352 Main Road.

Skyline Development Group has launched, with the acquisition of a fully approved 14-story project that will deliver 70 boutique condominiums to 8701 Churchill Road in North Bergen.

The purchase of the three-building property highlights the healthy appetite among institutional investors for South Florida industrial product.

Chicago's hotel supply has accelerated over the past few months, due primarily to projects in the River North submarket, the report states. The influx of new product has caused occupancy to decelerate, but only slightly.

The REIT has committed to $3.4 billion in acquisitions for the year.