Analysts expect the top life science clusters to have a long runway ahead, despite the market dislocation.
Torrey Square posted the lowest base rent per-leased-square-foot in Whitestone’s wholly-owned portfolio. Since its IPO in 2010, Whitestone has improved its base rent per leased square foot by over 80%.
A carve-out for vacant properties lets investors avoid the “substantially improve” requirement, to save millions in development fees.
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