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"I do think that some of these (NY suburban) cities are not dead, but you have to provide the amenities. Talent is not going to be there if you don't have great amenities for them and within that area great reasons for families to be there—great schools, fair taxes and reasonably priced real estate."
The 10-year 10,323-square-foot lease with the global fitness brand at the eight-story, 213,000-square-foot building is the latest significant lease transaction at the property
50 Varick St. was part of the collateral for New York REIT's $760-million cross collateralized and secured loan provided by Credit Suisse in December 2016.
Strong demographics consisting of healthy office and residential populations make Del Mar and Carmel Valley unique for retailers, allowing it to command among the highest rents in the county, C&W's Phil Lyons tells GlobeSt.com.
The industrial product is the hottest product in the country right now and potentially the hottest product in the world. The valuations have continued to rise for the last five or six years and the rents are rising significantly.