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"These revitalization efforts have been fed by visionary multifamily investors who aggressively pursued value-add and development opportunities over the course of many years that are now coming to fruition,” says Gebroe-Hammer's David Oropeza.
The four-story office building and adjacent surface parking area was completed in 2013 and is fully leased to global pharmaceutical company GlaxoSmithKline through 2028.
Fresh from its 10-year strategic plan (which it accomplished in nearly half that time), retail REIT RPAI is pivoting to value-add opportunities and optimizing asset performance.
A new park-centric multi-use development called Monarch City was recently introduced by the Howard Hughes Corporation and zoning is expected to begin this year on the community.