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Berkadia officials note the greater population of Gainesville is forecast to grow 4.6% by 2022, reaching almost 300,000 residents, and point out that approximately 35% of metro Gainesville's residents are in the prime renter age group of 18-35 years old.
When it acquired the 405,000-square foot building last year the company vowed to launch an aggressive leasing initiative once the improvements were complete.
Despite the additional costs that consumers will pay now for online merchandise, the concept and culture of e-commerce is so baked in that South Dakota v. Wayfair will not be a game changer.
"Strong demand for industrial space in the Suburban Essex submarket and high occupancy at the portfolio made this an ideal time to sell this asset,” says Stephen Cassidy, president of Denholtz Associates.
An example of neighborhood retail demand is the Mid Valley Shopping Center, a 62,480-square-foot Safeway-anchored multi-tenant center, which was recently acquired from the original developer family.
Our team just returned from ICSC in Las Vegas and by initial numbers, we are being told it was the busiest Las Vegas convention since 2001, which means we are back to pre-recession activity levels.