“The chance to own a site like One Geoffrey Way does not come around often,” says Jeffrey Babikian, a CBRE executive vice president. Originally built as a headquarters for American Cyanamid, Toys 'R' Us occupied the property for 16 years.

“This property required a specific buyer profile and we were pleased with the national investor interest,” says Michael D'Agostino of Kiser Group. “In addition to the buyer's focus on affordable housing, they saw opportunities to add value in the market rate units and the parking garage as well.”

When approaching Opportunity Zones, the conventional view on the opportunities presented by the legislation appears that the tax benefits are overwhelming the underlying project analytics, but read on to learn some new suggestions.