The unnamed Asian investor will contribute approximately $108 million for a 39% equity interest in the joint venture and ILPT will own the remaining 61% equity interest in the joint venture.
RFR Realty has retained Jones Lang LaSalle to lead leasing efforts for the 272,628 square feet of space at the base of the Seagram Building at 375 Park Ave. in Midtown Manhattan.
The third-party logistics provider signed the warehouse lease deal with building owner Clarion Partners of New York City.
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