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.
Google's expansion will enable the creation of more than 10,000 new construction jobs in Nebraska, Nevada, Ohio, Texas, Oklahoma, South Carolina and Virginia.
Following the Chicago-based firm's purchase of 50 Post Office Square in December 2015 for a reported price of more than $290 million, the firm's capital improvements at the property have paid dividends.
According to Maria Gonzalez of HACE, a community development corporation focused on the Latinx communities, immigrants, millennials and baby boomers have enhanced the city's diversity with their rising interest in urban living.
“We are seeing more foreign capital purchase assets in the Philadelphia region, which is driving up pricing," says Ken Wellar, managing partner of RRA.
The portfolio could yield market-rate rent appreciation and value-add opportunities through modest-to-extensive capital improvements, says Gebroe-Hammer's Nicolaou.
The e-commerce giant in a statement released today, while praising Cuomo, de Blasio and others, cited the vocal opposition by some political and civic leaders as the reason for its decision.