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.
At a press conference in Albany on Monday, Gov. Cuomo and State Comptroller Thomas P. DiNapoli revealed that estimated sales tax revenues in the past two months were down a total of $2.3 billion from estimates.
The expansion of the existing P3 between Howard University and Corvias increases the scope of the arrangement to 3,009 beds, $144 million in capital raised, a total of $1.7 billion in total economic impact and $39.5 million in debt defeasance.
A recent vacancy of approximately 300,000 square feet in a Louisville facility brought down the cap rate a bit but Dream Industrial says that once it is leased up, it expects to cap rate to increase to 6.5%.
“New Jersey historically has been a life science hub, and the industry continues to play a major role in the state's economy,” says Jason Price, director, Cushman & Wakefield's Tri-State Suburbs Research.