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"The short term could be a tumultuous time for flexible office space, but landlords, investors and lenders will become more educated over time," CBRE says.
"From the first time I walked the building, I was intent on acquiring this unique asset. I look forward to building on AMC's past success by enhancing the amenity offerings and driving future leasing," says Mark Meisner, principal of The Birch Group.
EverWest purchased the property and secured a long-term lease agreement with the laminating, coating and metallizing technology at the building located at 12 Daniel Road.
The firm plans to redevelop the property at 226 W. Jackson Blvd. into a dual-branded hotel, with a 135-room Hilton Garden Inn and a 214-room Canopy by Hilton.
Zach Aarons, MetaProp's co-founder and partner, advises investors to look for companies that solve problems in a variety of different ways with the end goal to ultimately make processes more efficient.