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.
Forecasts for commercial real estate prices in 2020 and 2021 are expected to fall below the long-term average growth rate for the first time since 2011.
Mack-Cali calls the Bow Street proposal "grossly inadequate, illusory, unworkable," while Bow Street managing partner Akiva Katz says Mack-Cali is "clearly undervalued, but we don't think the undervaluation can be resolved in its current structure."
“Times are changing, and the modern professional values access to an alternative workspace, ideally with a coffee shop component, and great WiFi that's close to home," Pestronk says.
Harmsen will be actively involved in the InNOVAte 2019 Challenge, an accelerator program, and Greentown Labs, the largest cleantech incubator in the US, with the goal of developing innovative technologies to disrupt the built environment value chain.
The bank has signed a new 15-year lease deal for 545,000-square feet or roughly half of the 1.2-million-square-foot, 37-story office building at 100 Federal St.. The lease deal is an early renewal of Bank of America's lease that was scheduled to expire in 2022.