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The company states the sale resulted in a total return to the investors of 142.10% (calculated based on the aggregate amount of original capital invested in the property).
First Industrial will break ground this month on phase one of the park involving two rear-load facilities of 219,808 and 125,267 square feet, respectively.
WeWork has emerged as the clear front runner in coworking and is also a top tenant in some of the largest loans securitized in CMBS deals, according to Kroll Bond Rating Agency.