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The buyer, Pacific Life, saw a competitive advantage for Jefferson LasCo, which overlooks the Campion Trail and is located near the Toyota Music Factory, the Las Colinas DART rail station and Lake Carolyn.

Mack Real Estate reportedly provided the loan for the approximately $150 million acquisition of the iconic Art Deco skyscraper.

The recapped luxury residential and commercial building is one of several projects the real estate firm is developing in emerging neighborhoods.

The median household income in Los Angeles needs to increase 25% to afford the average rent in the city.

The real estate law firm has extended its lease in the Midtown East tower for another 10 years.

“I have been pleasantly surprised in the time since to learn that this has had less of an impact that I had feared,” Mayor Bramson said.

Net foreign investment in the DC office market fell into negative territory but JLL report author John Andril predicts foreign buyers will re-enter the market later this year.

The 28,890-square-foot deal, announced by commercial brokerage firm Avison Young, is the first lease transaction signed at the more than 330,000-square-foot complex.