PHILADELPHIA—According to Ian Anderson, director of research and analysis, CBRE Greater Philadelphia, the PA I-78/I-81 logistics corridor remains remarkably resilient. Demand from a variety of types of tenants has helped occupy nearly 26.3 million square feet of new warehouse space over the last two years (equivalent to just under 457 football fields). The vacancy rate remains at record-low levels. After a relatively slow first quarter, demand and activity bounced back in the second quarter Just over 3.8 million square feet of space was absorbed during the quarter, driving the vacancy rate 90 basis points lower to 5.6%.

CBRE Research also reports that the industrial expansion is spreading further and deeper across the larger region. As the Lehigh Valley and Central Pennsylvania submarkets along the PA I-78/I-81 corridor run at full throttle, the relatively greater amount of space available in Northeast PA is helping demand surge. Over the last year, 2.6 million square feet of warehouse space has been absorbed in Northeast PA, equating to 23% of all net absorption along the PA I-78/I-81 corridor. The vacancy rate in this submarket has declined from 8.7% one year ago to 6.1% in the second quarter of 2017.

Deal Tracker Daily

BOSTON—CIM Group has acquired six land parcels totaling 2.16 acres in Boston's Fenway neighborhood, located two blocks south of Boylston Street and four blocks from Fenway Park. CIM made the acquisition with Cabot, Cabot & Forbes, its joint venture partner. The parcels are currently leased to two restaurants, a convenience store and a taxi depot that utilizes the surface lots and garages.

CIM identified the Boston area more than a decade ago as a community that possesses the attributes that fit its investment strategy. The acquisition of these parcels continues the firm's investment program in Boston that includes Motor Mart Garage, 200 Stuart St. Garage, and 95 Berkeley St. No financial details on the land purchases were released.

WESTPORT, CT— The Davis Companies reports that Coastal Orthopedics, a member of OrthoConnecticut, a leading orthopedic group dedicated to developing both surgical and nonsurgical solutions to address problems related to musculoskeletal diseases, has signed a lease to occupy an entire floor (approximately 5,000 square feet) at the Westport Center for Health.

The Westport Center for Health is a 38,000-square-foot, Class-A medical office campus located at 321-329 Riverside Ave. in Westport, CT.

BOSTON— NAI Hunneman recently completed a three-year, 8,487 square-foot sublease transaction with Neurala. The artificial intelligence software company is moving from Boston University's Photonics Center to its first corporate offices at 51 Sleeper St. in Boston. NAI Hunneman Urban Advisory Group members Peter Evans and Matthew Davis represented Neurala in the transaction, while Ben Sutton of Newmark Knight Frank represented the sub-landlord.

GARDEN CITY, NY— Jeffrey Dunne, David Gavin and Travis Langer of CBRE's Institutional Properties in collaboration with Vince LaManna of the CBRE Long Island office, represented TSPartners in the sale of 825 East Gate Blvd. in Garden City in Nassau County. The team was also responsible for procuring the buyer, CAF Realty. No financial terms of the transaction were released.

825 East Gate Blvd. is a 79,498-square-foot value-add office property located in Garden City in Nassau County. In total, 825 East Gate is within close proximity of 4.2 million square-feet of retail, more than 20 restaurants and eight hotels. Dunne said of the deal, “825 East Gate provided a unique opportunity to purchase a value-add office property in prestigious Garden City. The property's prime location with access to major thoroughfares and numerous amenities ideally position it for near-term lease-up.”

NEW YORK CITY— RKF has arranged a 9,000-square-foot lease with Berenik Boutique & Talenthouse N.Y., a first-of-its-kind curated retail and creative workspace concept store. The location will open in July at 419 Broome St. in SoHo's fashion market.

RKF EVP Beth Rosen and associate Emily Simmonds represented landlord Broad Broome LLC in the transaction. Berenik Boutique & Talenthouse N.Y. was represented by Storefront.

TAUNTON, MA – NAI Hunneman recently completed a 6.78-acre land sale to Maxon Precision Motors for its new U.S. headquarters facility at The Business Park at Myles Standish in Taunton, MA.