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 $120 million project developed by BET Investments will bring 402 luxury apartments, a 500-car garage and 150,000 square feet of town center shops to a 25-acre site in eastern Montgomery County.
Boulder says the rise in cap rates is mainly due to investor concern about the evolving retail environment, store footprints for big box retailers and the cost associated with filling big box properties.
A state court gave the American Museum of Natural History approval to build the Gilder Center but a community group has appealed the case, vowing continued opposition.