Industrial

New Jersey US Senators Cory Booker and Bob Menendez joined 13 other Northeast Senators in a letter to FRA Administrator Ronald Batory that the agency finalize and approve plans to immediately advance the Hudson Tunnel Project into the design and construction phase, noting the project secured draft Environmental Impact Statement approval in 2017.

A new report from Colliers International shows that industrial net absorption has been decreasing since 2017.

As investors look for defensive assets, multifamily could garner a lot of attention.

Those proposed reforms, which affect how TIF spending occurs within existing districts, will increase transparency for future TIF allocations while establishing new guidelines for TIF spending, internal review and approval processes and public disclosures, according to the mayor.

The Southern California market had the highest number of large industrial deals in the US last year, a total of 21 transactions totaling 17.5 million square feet.

Governor Wolf's budget includes plans to make more than $1 billion available to combat lead, asbestos, and other contaminants. The governor is also continuing to pursue $4.5 billion in funding through his Restore Pennsylvania plan, which will be used to upgrade and make repairs to Pennsylvania's aging infrastructure.

The firm, fresh off its announcement last month that it had initiated a $12-billion investment strategy for its student housing and residential divisions, has hired real estate veteran Russell Brenner as president of the new medical office and life sciences entity.

Penwood Real Estate, which is headquartered in West Hartford, CT, and Princeton, NJ-based Metrix Real Estate secured a three-year construction loan with two one-year extension options through Wells Fargo Bank for the project at 10 Princess Road.