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The deal, which calculates out to $161,538 per unit marks Aegon RA's first multifamily purchase under its recently formed Workforce Housing Investment program.
"Infill product close to New York City has become more expensive to lease and difficult to acquire as a result of limited supply and voracious tenant demand," says Christopher M. Bellapianta of Camber Real Estate Partners.
The company has signed a lease for 15,171 square feet and will relocate its Hartford offices to the nearby 30-story Goodwin Square Building at 225 Asylum St. in January 2020.
The company, founded in 2002, is currently headquartered in Lawrenceville, GA. Brightree, which is a subsidiary of ResMed, has leased 60,500 square feet of former office and warehouse space at Bureau 125 Tech Park.
CT Realty recently sold the newly built 1.12 million-square-foot industrial building, NorCal Logistics Center, to Bentall Kennedy (US) Limited Partnership on behalf of its US core fund for $105.3 million.
As the Greater Bay Area continues to expand and commute times worsen, companies/employees continue to seek office and working alternatives to save time and increase productivity.
In early 2019, WeWork announced its first lease in Tampa in the Tampa Heights district. WeWork at The Heights will be located at a mixed-use development being built at 2002 N. Tampa St. on the northern end of Downtown Tampa.
Since the 2008 recession, healthcare and non-profit companies relocating to the district have taken 1.6 million square feet of space and accounted for 35% of new private sector jobs (16,800) in the district.