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Rand Stephens says ridership is declining in both rail and bus services across the country because of lower gas prices, increased telecommuting, rising car ownership and of course, ridesharing with UBER and Lyft.
Well-located infill warehouse space close to major markets such as those in the East Bay is crucial to speedy delivery but is becoming increasingly scarce due to e-commerce demands and constrained supply.
Forward-looking developers are converting empty big boxes into creative office use -- and we are trying to get ahead of the curve and take down those spaces quickly, says The Yard co-founder Richard Beyda.
“This is a well-located, quality office property with significant upside potential via lease-up of its available space,” says Jacklene Chesler of the Colliers investment team. “The price provides the new buyer with an attractive opportunity to leverage its value-add position.”
Once the transaction closes, the Munroe Regional Medical Center will be the second largest hospital in Adventist's West Florida division and the third largest in the Adventist Health System and marks its entrance into Marion County.
The property's high intensity zoning allows for a variety of mixed uses and the existing structure offers a developer the chances to readapt office building to multifamily, hotel, retail, or a mix thereof.