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.
In a newly released report, CBRE ranks Pennsylvania, and specifically the Lehigh Valley as the sixth largest cold storage market in the country with 213.5 million square feet of inventory. The state of New Jersey came in at number 10 with an inventory of 136.7 million square feet.
Political leaders say proposed regulations are aimed at protecting tenants and affordable housing, while some landlord reps assert the proposals will hurt the marketplace.
The largest recent transaction was with Silversmith Capital Partners, which signed a 26,000-square-foot lease at the 272,000-square-foot office building.
In his new role with NAP, he will be responsible for design, engineering, permitting, approvals, construction and management of the multi-phased Riverton program, a $2.5-billion, 5 million-square-foot mixed-use development on 400 acres on the Raritan River in Sayreville.
The Planning Board unanimously approved the plans for The New Valley Hospital on Thursday evening. Valley Health System reports that its board of directors will formally adopt a resolution to proceed with the project at its next meeting in July.
The Opportunity Zone program is inspiring property owners that have held lower-quality assets with deferred maintenance to finally sell the assets, says Real Capital Analytics' Jim Costello.