BASKING RIDGE, NJ—The hotel is in the heart of northern New Jersey on the border of Somerset and Morris Counties, near 49 million square feet of office space and numerous Fortune 500 companies, including Verizon, Chubb Insurance and ADP, all located directly across from the hotel.
New Jersey Headlines
LINDEN, NJ—Planned improvements include roofing, new entrances, new building facades and windows, modernization of the building’s 98 loading doors and five drive-in dock doors, as well as the installation of T5 lighting.
"You have to understand the contamination that is on the property, you have to do your due diligence, you have to make sure you get a price that allows you to do whatever work needs to be done on the property, and that means you’ve got to be willing to accept some delays,” says FoxRothschild partner Philip Hinerman.
More New Jersey Headlines
- Hartz Mountain Refinances Portfolio of 13 Industrial Buildings in Northern NJ
- NextBridge and Two Kings Shed Franklin Township, NJ, Office Property
- Middle Market Digest: The Northeast
- Cushman & Wakefield: NJ Office Market Has Record Year; ‘Stable’ Start Expected in 2017
- Champion Pool Distributors Dives into Industrial Lease in Edison, NJ
- Middle Market Digest: This Week in the Northeast
- PREIT Taking Advantage of Macy’s Closings to Reposition Mall Space
- Edison Litho Acquires Pennsauken, NJ, Industrial
SAN FRANCISCO—Top real estate executives’ confidence in the US economy and housing market for 2017 has softened compared to two years ago, however, California’s economy continues to outpace the US economy.
McLEAN, VA--Wells Fargo executed the CMBS financing and CBRE’s Atlanta Capital Markets Debt and Structured Finance group structured the five-year loan.
More National Headlines
- How to Invest in the World’s Largest Asset Class
- Caesars Unit Eyes Exit from $18B Bankruptcy
- Colliers’ Accelerate Program for Young Professionals Comes to DC
- Metro Detroit Industrial Remains as Strong as Ever
- CMBS Late-Pays Down for Now, But Not for Long
- Market Showing Signs of Transition
- Low Labor-Force Participation Could Spell Trouble
- Co-working Is Here to Stay
Facing continued slow and steady growth in US GDP, heightened global uncertainty and lower yield expectations, institutions don’t anticipate tapping the brakes on investment any time soon.
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SANTA BARBARA, CA—Amid a generally positive outlook for apartments in 2017, Yardi Matrix does see issues with oversupply and a slowdown in rent increases in some metro areas.
CHICAGO—Noting that REITs now account for 27 slots within the S&P 500, Ferguson Partners recommends “5 Pillars” of a proactive approach to CEO transition.
CORONA DEL MAR, CA—Established restaurant chains with strong financials will likely still be valued at a premium over a food hall/marketplace—unless the guarantor has a history that would surpass other chains or operators, Hanley’s Carlos Lopez tells GlobeSt.com.