As private equity shifts away from opportunistic returns to focus on more core strategies their cost of capital will come down and buyers will be more willing to meet sellers on price, says PwC's Real Estate Deals Leader Tim Bodner.

The four-story office building and adjacent surface parking area was completed in 2013 and is fully leased to global pharmaceutical company GlaxoSmithKline through 2028.

With Toys R' Us and others shutting, developers and their lenders want to wait and see how all that space gets filled.

A new park-centric multi-use development called Monarch City was recently introduced by the Howard Hughes Corporation and zoning is expected to begin this year on the community.