Globest Sectors

The firm will occupy more than 160,000 square feet of space at the new 24-story mixed-use tower to be developed by Buccini/Pollin Group at the corner of Washington Place and Bedford Avenue in the historic Lower Hill District.

Thanks to increased demand for healthcare services, the medical net lease sector will continue to offer steady cash flow and safe returns for investors.

Concurrent with the closing of the sale, Cresco has agreed to enter into a long-term, triple-net lease agreement with GreenAcreage and will continue to operate the property as a licensed medical and recreational cannabis cultivation and processing facility.

The agreement puts the two health care institutions on a path toward reaching a Definitive Agreement, which they expect to reach within the coming months. The LOI follows a Request for Proposal released by Saint Peter's in October 2018 that it was considering a strategic partner.

New York City-based Square Mile Capital Management provided the $200 million in financing to joint venture partners Somerset Development Group and Adarsan Holdings for the redeveloped former Bell Labs scientific research center.

The multifamily market in New York City has been on a downward slope since the announcement and enactment of the Housing Stability and Tenant Protection Act of 2019 this past June, and it looks like it won't let up.

Medical office rents in San Diego are $35 per square foot, the fourth highest in the nation.

The multifamily portfolio is located in Midtown Phoenix and Grand Canyon University and sold for $25 million.