"You have to understand the contamination that is on the property, you have to do your due diligence, you have to make sure you get a price that allows you to do whatever work needs to be done on the property, and that means you've got to be willing to accept some delays,” says FoxRothschild partner Philip Hinerman.
The 85-percent-leased property was most recently renovated in 2007 and features an atrium lobby with marble finishes, full-service café and fitness center with showers and lockers.
EAST RUTHERFORD, NJ—The New Jersey office sector ended the year on a positive note, with the market stable after two robust quarters of improving market fundamentals, says Cushman & Wakefield.
PHILADELPHIA—"Demand for the Macy's spaces is robust with new opportunities situated in desirable locations in quality, high barrier-to-entry markets," says PREIT CEO Joseph F. Coradino.