Northeast

The waiting period for the acquisition ended on Friday allowing Moody's to move forward with its bid.

It should come as little surprise to the CRE community that the economists found that industrial is driving current growth.

Watch an exclusive video tour of the first phase of Philadelphia's Rail Park with correspondent Steve Lubetkin.

The planned construction will expand the property by adding 122,000 square feet of class A, 32-foot clear, distribution space, bringing the total square footage to 235,000 square feet.

The two buildings, which are currently 93%-leased, are home to anchor tenants IQVIA, Fidelity Information Services and FirstService Residential.

The property sold for $10.95 million at a 6% capitalization rate.

The former SVP was a key player with the Greenwich Lane in the Village and Dock 72 at Brooklyn Navy Yard.

City officials said the updated design would expedite construction of the resiliency project that would now begin in the spring of 2020. The project would enable flood protection to be implemented nearly one year earlier, and the entire project is expected to be completed six months earlier than the original design.