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The sale marks the first purchase in South Florida for Yair Levy, a New York-based investor and developer who has proactively diversified his portfolio of holdings after a contentious legal battle resulted in a ban from selling residential condominiums and co-ops in New York State in 2011.
The deal in West Hartford comes about two months after it struck a deal in early May to consolidate its New York City offices into approximately 10,300 square feet of leased space on the 19th floor of 55 Broadway in the Financial District of Manhattan.
“Demand for high quality flex space in Secaucus is strong, and 1 County Road is meeting the demand with a compelling product and superior location,” says CBRE's Kevin Dudley.
The overall decline in the broker confidence index was due to brokers' concern for future leasing and financing conditions in both the residential and commercial real estate markets, REBNY states.
At its Deerfield Beach, FL headquarters, The Learning Experience has 80 employees, with plans to grow to 110 employees by the end of 2018, and up to 150 long term, a company spokesperson tells Globest.com
The change in net lease property cap rates during the second quarter showed mixed results, with retail cap rates experiencing their greatest quarterly increase since 2011, while office and industrial rates compressed.