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

SHORT HILLS, NJ—“In 2016, the US economy saw moderate growth that was strong enough to fill our space and encourage investor demand for our products,” says Colliers International chief economist Andrew Nelson. “It was not so strong as to overheat markets and encourage a lot of speculative construction that would ultimately undermine the recovery.”

PHILADELPHIA—Average asking rental rates increased by 7.2% over the past year to $30.08 per square foot, the highest in the Philadelphia CBD's history.

NORTH PLAINFIELD, NJ—“Industry experts agree that the recent holiday season was good for retail, yet some have indicated ecommerce was the real winner over bricks and mortar,” says Levin Management's Matthew Harding. “From a ground-level perspective we are seeing a different story – one illustrating the ongoing relevance of physical stores within the LMC portfolio, which is comprised mostly of open-air shopping centers.”

HOBOKEN, NJ—The North Constitution, built in 1999, is a 14-story, 138-unit “class A” multifamily property with ground floor retail space.

A roundup of middle market deals and news from the Northeast this week.

CARTERET, NJ—Built in 1984, the property offers 24-foot ceiling heights, 48 feet by 41 feet column spacing, ESFR sprinklers, 58 tailboards and two drive-in doors for loading, and 139 surfaces spaces for parking.

ROSELAND, NJ—The firm's planned capital improvements include comprehensive interior and exterior upgrades, and enhanced amenities.