Retail

One of the latest tenants at the property is Dunkin', which leased 1,802 square feet in a local relocation of an existing franchise. Bubbakoo Burritos also signed on for 1,695 square feet at the property.

The asking rental rate rose $0.56-per-square-foot to an average of $39.75-per-square-foot from the second quarter. In the past year, MMG Equity notes that the average asking rental rate has risen $4.21-per-square-foot from the $35.54-per-square-foot registered in the third quarter of last year.

"With cap rates increasing ever so slightly for tenants such as AutoZone, O'Reilly's and Advance Auto, investors will be able to acquire investment grade credit at higher yields."

Midtown is sandwiched between the two largest employment centers, downtown and the Medical Center, and is the third most densely populated square mile and one of the fastest-growing areas.

ASPIRE aims to celebrate the Asian and Pacific Islander culture by building a global community that is committed to the advancement and development of its members while serving as champions of diversity and inclusion, C&W states.

The Design 41 office-retail building was completed last year, and part of the loan pays off the original debt.