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“A break-up strategy allows for new and unseasoned investors or buyers to purchase a single tenant asset as a part of a larger successful shopping center that they probably couldn’t afford as one large investment.”

CBRE, which brokered the transaction, reports the 75,000-square-foot medical office building was sold by the Eye Institute of New Jersey to a private investor.

Construction will commence immediately on the speculative project with delivery expected in the second quarter of 2020. LPC is constructing two high p facilities totaling 274,855 square feet.

The property is being sold by Marshall Florida Investments, which is led by Rick Marshall, and is expected to close within 73 days.

L Catterton Real Estate and QIC Global Real Estate plan to reposition the shopping mall into a mixed-use complex with hotel, office, apartments and retail.

According to one panelist who will speak at the upcoming CREW Network Convention, three opportunities include: big data and artificial intelligence; sustainability as a driver of innovation; and tenant experience.

Deen steps into the newly created position to support corporate innovation and identification and implementation of industry best practices at the company.

The developer plans a $53 million three-building industrial project totaling 720,000 square feet.