Phillipsburg's apartment stock, "is continuing its historically stabilized run, recording a rent appreciation rate of five percent in the past year,” says Stephen Tragash, Gebroe-Hammer Associates senior vice president.

Neighborhood centers are likely to see pressure on pricing if existing grocery stores in those properties struggle to compete with the Whole Foods-Amazon combination, says Altus Group's Richard Kalvoda.

A roundup of the latest leases, sales and other transactions in the Northeast middle markets.

“Prices continue to skyrocket to well over $100,000 per unit in East Orange,” says Kislak's Julie Gralla. “The city is extremely desirable to tenants and investors with two midtown direct trains providing service to and from Manhattan in 20 minutes.”

LogistiCenter at Logan is a 1,100-acre, master-planned class-A industrial park in Logan Township, NJ, planned for more than 5.5 million square feet of warehouse, distribution and manufacturing space.

“The renovations have created modern spaces that fit the needs of corporations and medical offices seeking to expand or relocate,” says Joel Bergstein, president, LEG.

A roundup of recent deals, leases, executive moves, and other news from the past week.

The Hitachi Chemical unit signed a long-term lease and plans to create state of the art facilities to support the growth of its cellular therapeutic technologies.