Northeast

There are also reports that the retailer is planning to file for bankruptcy.

New York State Gov. Andrew Cuomo has announced that Pennsylvania Station is going to see a well-needed expansion with an additional eight new tracks upon the acquisition of an entire Manhattan block.

Madison International Realty, a real estate private equity firm, has closed on the recapitalization of a $275M multifamily portfolio in New York. The deal includes Urban American, an apartment operator who will continue to manage the 15 properties.

Asking rents in Philadelphia's core contracted over the quarter, but were still higher from earlier in the year, according to the Savills report.

"So often, the industry wants to reduce building efficiencies and electrical efficiencies but the building's carbon footprint is rarely considered."

The bond program will provide funding for projects such as ADA accessibility, major building renovations and new construction projects.

Industrial and multifamily will remain the darlings of the commercial real estate markets, while office will fall behind.

As investors find opportunity in cold storage investment, cap rates are pushing closer to high-quality warehouses.