Leasing of the office tower is being handled by JLL. De La Vega is hoping an anchor tenant will be secured before the project is ready to break ground.
"Otherwise, it would be difficult to finance," he said.
This is the key point many of us already know but nice to see it written out in plain language. If he doesn't sign a lead tenant he will probably start selling off the land or be like Spire and just sit on the land for a decade hoping something pops up. His only advantage I would say is that by offering a project with more health and safety features related to the spread of COVID he could snag someone looking to make a splash by moving staff to a new "state of the art" facility. Even with a vaccine, it will take years to eliminate the fear completely and that is if it COVID-19 doesn't evolve making the vaccine useless.