Northeast

Sellers are going to have to lower their pricing expectations in 2020, and when they do, buyers will be lining up.

Many developers have turned to repurposing old sites to build new healthcare projects. But even this solution comes with challenges.

Ian Formigle, vice president of investments with CrowdStreet, recently shared his observations and predictions for commercial and multifamily real estate markets heading into 2020.

Innovo Property Group has acquired 511 Barry St., a 140,000-square-foot warehouse in the Hunts Point neighborhood of the Bronx for $54 million.

With cap average cap rates falling between 5.6% to 6.9%, investors can acquire high credit tenants at a relatively higher yield.

With so much volatility in the retail market, investors are carefully analyzing potential opportunities.

The portfolio traded for $25.3 million and the going in cap rate was just under 5%.

Mack-Cali reports it has sold two suburban office portfolios totaling approximately 2.4 million square feet in Parsippany and Madison, NJ to Onyx Equities.