"Demand has kicked in throughout the Greater Philadelphia Metro, which includes Philadelphia proper as well as South Jersey and the city's northern and western suburbs," says Gebroe-Hammer executive managing director Joseph Brecher.
The property prior to the sale, entered into a 10-year, 340-bed master lease with Columbia College in August. Greystar reports that the remaining 48 beds are fully leased for the 2019/2020 academic year.
The 7.2 MW-rated solar installation at Iron Mountain's data center in Edison (NJE-1) is forecast to generate more than 9 Million KWhrs per year, which is enough electricity to power more than 1,000 homes for a year.
The two parties expect to reach a definitive agreement on the deal before the end of the year. CarePoint Health has initiated a separate process seeking a strategic partner for its third operating hospital—Bayonne Medical Center.
Statewide closed sales of existing single-family homes totaled 23,510 last month, an increase of 11.5% from September 2018, according to Florida Realtors. Florida's condo-townhouse market totaled 9,007, up 6.1% compared to a year ago.
CBRE in its third quarter office report states that new office development is now forecast to be just below 2.5 million square feet by the end of 2020.
In its bankruptcy filing, Destination Maternity will commence to shutter no fewer than 175 locations by Oct. 28 and no fewer than 35 additional locations by Nov. 1.
Through what the city terms is a groundbreaking collaborative by government, businesses, philanthropies, and community leaders, the city will align more than $750 million in already allocated funding to the South and West Sides over the next three years.
The parcel, also known as the western portion of Block A, encompasses approximately 2.18 acres, with base development capacity of nearly 1,100 residential units and 1.7 million square feet.
The purchase of 217-unit building marks Pacific Urban's third multifamily purchase in the Northeast since the firm established a regional office in New York late last year.