NYC Single-Tenant Retail Shows Signs of Distress

DBRS Morningstar found 14 CMBS loans totaling $467.4 million in New York City are delinquent or in special servicing.

       

source https://feeds.feedblitz.com/~/636088674/0/globest/new-york~NYC-SingleTenant-Retail-Shows-Signs-of-Distress/

W.P. Carey Completes $44M Industrial Sale-Leaseback

The REIT purchased two Midwest facilities, which are currently long-term net leased to a leading food manufacturer tenant.

       

source https://feeds.feedblitz.com/~/636063280/0/globest/new-york~WP-Carey-Completes-M-Industrial-SaleLeaseback/

New Jersey May Lose Wall Street’s Data Centers

A new proposal in the state legislature suggests a tax on financial transactions, which has prompted executives to look into relocation to other states.

       

source https://feeds.feedblitz.com/~/636054866/0/globest/new-york~New-Jersey-May-Lose-Wall-Street%e2%80%99s-Data-Centers/

Manhattan Relocations Down While Short-Term Leasing Rises

During the pandemic, leasing activity is down 70% from last year and tenants signing leases are favoring short lease terms.

       

source https://feeds.feedblitz.com/~/636054940/0/globest/new-york~Manhattan-Relocations-Down-While-ShortTerm-Leasing-Rises/

Financing Secured for NJ Industrial Development

J.G. Petrucci Co. Inc. and an institutional real estate investor plan to develop a 511,200-square-foot warehouse in Phillipsburg, NJ.

       

source https://feeds.feedblitz.com/~/635974408/0/globest/new-york~Financing-Secured-for-NJ-Industrial-Development/

Office Market Could Shed 145M Square Feet in the Next Two Years

Demand for office space has decreased 20% more during the pandemic than it did during the Great Financial Crisis.

       

source https://feeds.feedblitz.com/~/635916206/0/globest/new-york~Office-Market-Could-Shed-M-Square-Feet-in-the-Next-Two-Years/

Common Expands Its Residential Platform With $50M Capital Raise

The company will use the funds to expand its residential management platform and take a tech-driven operational approach.

       

source https://feeds.feedblitz.com/~/635915980/0/globest/new-york~Common-Expands-Its-Residential-Platform-With-M-Capital-Raise/

Blackstone Selects JLL to Lease NJ Industrial Project

The 215,221-square-foot project is being developed by Blackstone Real Estate’s US-based industrial real estate operating portfolio company, Link Logistics, and the Hampshire Real Estate Cos.

       

source https://feeds.feedblitz.com/~/635898938/0/globest/new-york~Blackstone-Selects-JLL-to-Lease-NJ-Industrial-Project/