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The IRS will vacate more than 32,000 square feet in the third quarter of this year, which will lower the building's occupancy to 61.1% and create what Cushman & Wakefield terms as a tremendous value-add opportunity for Capstone.
Google's $1 billion purchase of nine addresses in two separate transactions represents 1.2 million square feet of buildings and land that were once owned by Yahoo! in Moffett Park.
Even after pulling out its HQ2 from Long Island City, the company tells GlobeSt.com nonetheless it has invested more than $4 billion in New York from 2010 to 2018.
The brokerage firm also reports that another lease deal with a co-working firm involving multiple floors of a City Center office building is currently pending.
The three properties that traded included the 195-unit Regency House at 304 Erial Road in Sicklerville, Camden County; Upper Deerfield Estates (67 units) at 23 McCormick Boulevard in Bridgeton, Cumberland County and Polo Ridge Apartments (64 units) at 1210 North Route 130 in Burlington Township, Burlington County.