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.
“2018 was a year of market evolution,” CBRE's LaRusso said in the retail report. “Rents are broadly down and activity in the market continues, with tenants currently in the dominant negotiating position."
DDC's capital commitments have more than doubled in the last 10 years as its responsibilities have grown, to more than $2 billion in Fiscal Year 2018, according to city officials.
With the purchase now finalized, SST II has added 29 self-storage facilities to its portfolio and obtained the right to acquire one other self-storage facility currently under contract.
“This is an incredible asset in a superb location,” says Jeff Turkanis, VP at Oxford Properties Group. “As our first residential acquisition in Boston, this deal speaks to our commitment to significantly grow our residential portfolio globally, which currently stands at over 10,000 units.”
The property offers a superior location, stable tenancy, and an opportunity to improve functionality in the future, says Jared Newman, vice president of acquisitions at Endurance.