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If the STEM high school project at the former IBM Somers property secures all approvals and lease negotiations are finalized, the lease transaction and the subsequent adaptive reuse project would be the largest of their kind in memory in Westchester County.
The Southern California industrial market is among the tightest in the country, and even the new supply under construction won't be enough to satisfy the demand.
Leaders of the Hollywood Park development in Los Angeles and Chase Center in San Francisco talk about adopting a mixed-use model to activate the projects.
Dermody's acquisition of Fremont Center is consistent with its strategy of acquiring value-add, functional, in-fill logistics and light manufacturing assets in tier 1 markets such as Fremont.
Driven by large renewals, sizeable new leases and substantial tenant move-ins, class-A office buildings continue to lure users looking to attract and retain employee talent, and as a result, drive up rents.