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.
The third-party logistics provider signed the warehouse lease deal with building owner Clarion Partners of New York City.
Creative Science Properties announced last week its intent to change its name to IQHQ, Inc. IQHQ also announced at that time it had successfully completed a $770-million equity raise.
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