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Slated to open in 2020, Target leased 33,000 square feet from Tishman Real Estate Services for the small structure, a fraction of the size of its typical stores.
The seller was a joint venture between affiliates of DRA Advisors and DLC Management Corp. Matthews Real Estate Investment Services represented the seller in the transaction.
Talks about a slowdown in commercial real estate have been constant. However, developers and retail landlords are steadily rolling out projects to create value.
Quartermaster owner Sky Management has partnered with architecture firm Digsau and is currently implementing a host of capital improvements that are expected to be completed by the spring of 2020.
While the healthcare industry has positive momentum and demographics in its favor, healthcare labor shortage as well as other issues will restrain growth potential in the coming year, according to experts at the GlobeSt. Healthcare Real Estate.
The fund, through its affiliated entities, plans to develop a 120-room hotel, operated under a nationally recognized brand, and a six-story, 144-unit apartment community at the site.