Northeast

Investors are rushing in to break ground on community facility and residential-focused developments in the Bronx. But not ZG Capital Partners, the development firm see's an opportunity to roll-out creative office for a live-work-play feel.

The development projects approved in 2019 will create an estimated 8,462 construction jobs and 7,799 permanent jobs.

For the full year, the net-lease REIT has closed about $870 million in investments.

The properties sold include retail stores, a distribution facility and office space. Bed Bath & Beyond will continue to occupy these properties pursuant to long-term leases.

The proposed properties include the renovation of 10 Quincy Street into condominiums, and also a ground-up apartment building development at 26 Quincy St.

Condominium projects and some multifamily could run into trouble.

The brokerage firm reports that the fundamentals of the Northern New Jersey are poised to continue to improve steadily entering 2020.

The sporting goods retailer will house its logistics and distribution operations in 312,373 square feet of space at the newly built 569,147-square-foot facility, reports CBRE, which was a broker in the transaction.