New York

With the Treetop Development purchase, brokerage firm CBRE reports it has negotiated a more than 100,000-square-foot lease at the property.

The REIT plans to use proceeds from the nine centers to advance strategy of acquiring shopping centers located in the top-50 MSAs.

Marquee Brands recognized the energy and evolution of the neighborhood, surrounded by the tremendous investment in the Penn Plaza, Hudson Yards and Manhattan West developments.

Net-lease investments into the Big Apple are up 46.4% year-over-year, and the total volume of net-lease investment is up 8.6% from Q2 2018 at $2.6 billion.

Separately, the company has finalized a joint venture agreement to acquire 425 Park Avenue, growing its portfolio to $1.9 billion.

The closing price for the Bronx Congregation of Jehovah's Witnesses equated to $300 per square foot.

MC Real Estate Partners, which owns office properties in the New York, Boston, and Washington, DC metro areas, was launched this year by Andy Nathan and Steve Grant.

Rittenhouse Realty is marketing the property as a development opportunity to build 208 apartments (147,070 square feet) above the garage, which will be master leased to Sonder Inc.