Seattle and Bellevue are experiencing sub-6% vacancy rates, along with falling and record lease rates, while the average cost of space in the Southend market is 39% to 43% below Eastside and Seattle full-service rents.

"We were able to secure a short-term loan that enabled PAG to acquire Loyal Plaza and provide them with the necessary time and funds that will be required to unlock the value of this shopping center,” Klein says.

Unlike other economic development programs, the incentive is not limited to real estate investments, rather businesses that intend to deploy capital and operate in Opportunity Zones can benefit from this incentive.

"Patient, flexible, risk-tolerant capital can fill a gap in the financing marketplace, help revitalize neighborhoods, and create opportunities for individuals and families to improve their lives,” says Benefit Chicago executive director Dr. William W. Towns.