IPG has appointed Graham Stephens, formerly of Jones Lang LaSalle in New York City, as a principal in its investments team and head of capital markets.
CEO Andrew Spodek says the company has never seen a pipeline and response from the postal community this robust.
The property known as Newport Office Center IV was sold by the Lefrak Organization.
The property, which was completed in October 2018, was sold by The Hanover Company of Houston for an undisclosed price. The firm’s regional office is located at 2 Seaport Lane in Boston.
Commercial real estate has received an energy shot as the industry rushes to innovate the traditional antiquated process of architecture and design, motivated to attract and retain tenants in a world where customer experience and engagement are key to operational success.
Located 10 miles north of Philadelphia, Baederwood Shoppes on the Fairway is 94% leased. Its tenant roster includes anchor Whole Foods Market, as well as Planet Fitness, Panera Bread, Le Papillon Hair Salon, Massage Envy, Baederwood Pharmacy, Penn Community Bank and WSFS Bank.
Prologis, a multinational and logistics real estate investment trust, has acquired 24 Woodward Ave., an industrial warehouse in the Queens submarket
Fairstead has financed a 905-unit portfolio of subsidized housing in Manhattan and Brooklyn. The nine properties include 49 buildings, which were slated to get converted to market-rate housing before the firm swooped in.
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