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Intercom will take over building owner Sterling Bay's current headquarters space, as the Chicago developer will move its headquarters to 333 N. Green Street in Fulton Market.
The financing was arranged by JLL Capital Markets and provided by Prime Finance for the 330,631-square-foot office building that PAG Investments purchased from Mack-Cali Realty of Jersey City in late 2019.
The office fit perfectly with Kinship Capital's commitment to owning high-quality properties in supply-constrained markets, where additional opportunities exist to enhance value for tenants and the community.
It is the first project in Houston to receive any certification under Fitwel, and among the largest with a three-star Fitwel rating, is second only to the Bloomberg headquarters in New York City.
HSA Commercial has acquired a 68-acre land parcel at Wilmot Road and 136th Avenue in Bristol, near I-94 and the Wisconsin-Illinois border. The firm has already received approval to develop a multi-phase business park on the parcel consisting of three buildings totaling more than 1 million square feet.
The New Jersey office market experienced a 120-basis point drop in the vacancy rate, going from 14.3% in the fourth quarter of 2018 to 13.1% at the end of the fourth quarter of 2019, according to a report released by Avison Young.