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The first locations will open in the tri-state area.

Cushman & Wakefield arranged $106 million in acquisition financing through Starwood Property Trust.

In urban core counties, revenue per available square foot has recovered most on B and C apartments in the South, Midwest and in secondary and tertiary markets.

Most respondents say asking rents are too high when compared to the current market value of office properties.

Around 2.2 million of the 2.9 million office jobs lost as the result of the pandemic have been recovered.

The average rental arrears is about 2.9 months' rent and to make up for those costs the new rent would need to be at least 25% higher.

This deal follows CBRE's recent stake in Industrious.

"This purchase is a steppingstone in our commitment to this market. We want to be at the forefront of Boca's resurgence, and to a greater extent, Palm Beach County. We are excited for the future," said a Grover Corlew partner.