Original Northeast commercial real estate news & events for New York, New Jersey, Boston, Philadelphia, and other northeastern US states, plus expert insights, commentary and analysis into secondary and tertiary regional and local markets.
Freehold will lease the properties to Curaleaf pursuant to a long-term, triple-net lease. The company also has the right of first offer to purchase additional properties from Curaleaf as its preferred real estate partner.
The new joint venture plans to begin construction in September on a three-story, 98,000-square-foot, climate-controlled self-storage facility at 352 Main Road.
Skyline Development Group has launched, with the acquisition of a fully approved 14-story project that will deliver 70 boutique condominiums to 8701 Churchill Road in North Bergen.
The properties in the portfolio have an average vintage of 2004, boast low vacancy rates, and offer affordable options for renters in attractive Texas and Florida markets, Starwood Capital states.
Overall, 2018 was the cycle's best year with 52.2 million square feet of gross leasing across all industries, while 2011 was the second best at 45.3 million square feet, according to a report by Cushman & Wakefield.