The Chinese conglomerate is looking for a partner to invest in their building that was appraised at $1.6 billion in 2016.

As Fidelity completes its acquisition of Stewart Title, the lack of competition in this growing multibillion dollar real estate industry seems increasingly impractical and speaks to an industry that is in need of expansion.

Secaucus, NJ-based Hartz Mountain has previously stated while in contract for the property that it plans to demolish the more than 413,500-square-foot complex and develop warehouse and distribution space at the site.