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    The retail market in Brooklyn is bucking national trends, with prices and rents for retail properties on the rise as the borough experiences a population boom. But the surge in popularity comes with its challenges, notes GFI Realty Services President Michael Weiser.

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    Weingarten Realty sold the 92,000-square-foot retail asset. More than half of its tenants are entering their 22nd year of contract. NKF represented the seller.

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    July was a fairly good month for job growth, with employment increasing in food services and drinking places, professional and business services, and health care, all of which spur commercial space absorption, according to the Bureau of Labor Statistics.

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  • Suburban Atlanta Office Park Commands $14M

    CBRE’s Tony Swann and Craig Taylor represented the seller in the transaction, while Mariano Perez of Grandbridge Real Estate Capital arranged the acquisition financing on behalf of the buyer/borrower.

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    The metro is an established life science cluster and continues to attract both tech and science tenants. The office inventory encompasses more than 72 million square feet, with a relatively balanced distribution between Class A and Class B space.

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    Construction on the first phase of the Nowy Rynek office and retail development started in July 2017 and is slotted for completion in the second quarter of 2019.

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  • CBRE Tapped to Lease Lehigh Valley Office Building

    The LEED Gold certified The Plaza at 835 Hamilton in Allentown, Pa., is home to financial tenants such as PPL Gold Credit Union and BB&T Bank.

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  • Alphapointe Buys Warehouse, Relocates to Queens

    The non-profit organization purchased a 138,000-square-foot brick warehouse in the borough’s Richmond Hill neighborhood. The property will serve as its administrative offices, manufacturing and distribution facility, and call center.

    23 June 2017 18:51
  • SSGT Invests in Massachusetts

    The 840-unit self-storage facility in Nantucket is 91 percent leased and is one of a host of assets the REIT has snapped up across the U.S. this year.

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