New York

The acquisition is a part of a series of acquisitions the firm has planned in key coastal logistics markets.

The first quarter numbers were particularly low due to a lack of high-profile, blockbuster deals.

Last year, 50,000 new homes were added to the single-family rental market.

The sales are part of the REIT's larger strategy of selling off non-core assets and reinvesting the proceeds into share repurchases and development projects.

Office rents in Midtown Manhattan are down 20%, producing of up to $300,000 for the same savvy tenants.

The deal underscores the depth of investment demand for industrial assets in the New York area.

While the pandemic laid low many CRE markets, it highlighted even more investment advantages in the single tenant net lease sector, according to Colliers report.

The college has relocated its classrooms from Hudson Square to the Feil Organization's Four Park Ave.