BDO's David Berliner points to Seritage Growth Properties as a model that Bon-Ton's prospective owners could have followed.

The company, which is celebrating its 50th year in business in 2018, will begin construction in July on a three-year project that will involve the demolition of seven buildings and the retention of three campus buildings, consisting of two existing office buildings and a parking garage.

SPPI developed its first office buildings more than 30 years ago and remains bullish on the region, with plans to hold office asset, 1200 Concord, after an extensive tenant-driven renovation and rebranding.