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.
The construction, engineering and architecture pros will upgrade Hudson Street between West Houston and Canal streets, adding pedestrian space and amenities.
The 11-story building is scheduled to be delivered in late 2020 and will be the first senior living community in The Village at Valley Forge, a 122-acre mixed-use lifestyle village.
In the commercial real estate industry, both AR and VR technology is used to reflect the physicality of the space including photos of the space, a PDF of the floor plan, drone imagery or maybe even a CAD file.
NAI Hanson's Levering says that a priority for Solomon Page was having a well-located, modern office in the northern New Jersey market. “It will allow them to work more efficiently with their regional clients and expand their services in the local marketplace,” he added.
Originally constructed in 1947 as a 10-story office building, 1501 Locust St. was expanded and repurposed into a luxury boutique building in 2010 featuring 29 large apartment units averaging 1,009 square feet and three commercial units totaling approximately 5,000 square feet.
As baby boomers age, medical properties continue to rise in popularity, with this sale reportedly being the second largest medical office portfolio sale based on total dollar volume.