RUTHERFORD, NJ—Commercial brokerage firm Savills reports it has launched a new specialization that will be focused on property disposition services.The…
Specifically, the retail sector experienced the greatest cap rate compression by four basis points to 6.23%. Moreover, this was the first quarter of downward cap rate movement for the retail sector following five consecutive quarters of upward movement.
Maven Properties, a new commercial real estate team known for curating neighborhood retail renaissances, has been named to handle leasing and marketing advisory for the center.
Earlier this year, Midtown Office Center was less than 10% occupied, but since purchasing the campus, MoxieBridge has secured 50,000 square feet of pre-leasing activity with plans for tenant improvements.