The 130,000-SF, two-building community in New Jersey sold for $28 million to A&RW Properties LLC and its affiliates, JYW Holdings LLC and Nadlan Capital Inc.
New York’s demand drivers for this asset class are on par with major US life sciences markets such as Boston, San Francisco and San Diego.
While upper-level apartments are still challenged as their residents are more likely to be working remotely and more supply is being delivered, Class B and C apartments are poised for a recovery.
Content creation is driving demand for high-quality production space, which is owned predominantly by five major studios.
The outlook suggests strong fundamentals and attractive alternatives will highlight 2021, according to Colliers report.
The average rental price in February was $3,791, a 3% decrease from January numbers and a decline of 13.5% year-over-year.
Investor confidence in the proptech market is 9.2 out of 10 thanks to accelerated technology adoption during the pandemic.
The Connell Co. plans to expand its current reimagining of the 185-acre campus, the Park, in Berkeley Heights, NJ.
S&P Global says that ecommerce giants like Amazon, Walmart and Target will benefit from the latest stimulus bill.
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