Northeast

In his second State of the State address, Murphy said he is not giving up on enacting a "Millionaire's Tax" to ease the property tax burden on the state's middle-class and seniors and to help fund the state's public school system.

The multifamily industry is getting creative and strategic about workforce housing funding.

The Altman Family, who disposed of the real estate from its portfolio, had a 75,000-square-foot warehouse on the land. B6 Real Estate Advisors and Cushman & Wakefield represented on behalf of the seller.

"We don't see a big economic downturn in 2020. The CRE market will hold its own," says Mitti Liebersohn, president and managing director of New York operations at Avison Young.

The $71.28 million permanent FHA financing enables the borrower to exit an initial bridge loan used for the purchase in November 2017 and to continue with large scale renovations.

Together, the MGM Grand and Mandalay Bay comprise 9,743 rooms, three million square feet of meeting space and 300,000 square feet of casino space across 226 acres on the Las Vegas Strip.

The 88,598-square-foot grocery-anchored shopping center was 96% occupied at the time of the sale, according to Institutional Property Advisors

CRE will poised to receive a double-whammy from automation, with the technology reducing the need for space across several industries as well as remaking its own internal processes.