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Phase I of Northpoint Village will have a standalone shopping center and approximately 16,600 square feet of inline space adjacent to the Publix grocery store.
The seller, the Teachers Retirement System of the State of Illinois, purchased the property in a foreclosure auction in 2011 for $57 million, about a 31% decline in its market value.
If the stay at home order were lifted this week, death rates and hospitalizations would start rising sharply by the middle of May. It's projected that the peak death rate and peak resource needs would be almost as high as if there were never any mitigation measures put in place.
As of April 20, the multifamily portfolio has a current percentage leased rate of 95%. The remainder of outstanding collections of 4% is largely from tenants who are seeking a payment plan, the company states.
Pyramid Cos. is the largest privately held shopping mall developer in the northeast and owns 16 properties totaling 17.8 million square feet located throughout New York, Massachusetts and Virginia.
"We have also added additional cleaning staff to disinfect all areas of the building multiple times throughout the day, focusing on high-touch areas," says Magellan Development's Brian Gordon.
The firm developed the guide based on its experience in moving 10,000 companies and nearly a million workers back into 800 million square feet of buildings in China.