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.
While noting that the college's current budget is balanced and its $52-million endowment has been strong, the harsh financial realities of small universities in the United States could not be ignored.
“This is a stabilized office investment property with zero vacancy, occupied by strong credit tenants with long-term leases,” says John Abuja, IPA senior director.
“Although the financial markets were highly unpredictable, commercial real estate performed the way it has for most of the past several years – with steady growth supported by strong fundamentals,” says Jason Wolf, founder and managing principal of WCRE.
The acquisition continues "our strategy to acquire and hold high-demand industrial properties in the region,” says Peter Corcoran, vice president of leasing and development for Liberty's New Jersey office.
The developer is transforming a former office building in Downtown Manhattan to a residential property of studios and one-bedrooms to attract millennials and Gen Z.
The British publication, The Week magazine, along with a communications consulting firm signed leases with Marx Realty in the Midtown Grand Central submarket at 155 E. 44th St.
One real estate legal expert says with this largest-ever real estate fund and the private equity group's wide range of expertise, everything is fair game.