Northeast

Corey Lonberger, managing partner at RRA, says, “Both properties traded at sub 6.5% T-12 cap rates and north of $110,000 per unit, which shows the strength of the multi-family market at this time. With historically low interest rates, values are at all-time highs.”

While new supply is outpacing leasing activity in some markets, other regions experienced a considerable rebound in net absorption after a slow start to the year.

The two companies are selling some properties owned by their JV and are also adding new properties to their joint holdings.

Liberty Tax, soon to be renamed the Franchise Group, has inked a definitive agreement to acquire the Vitamin Shoppe in an all cash transaction. The Vitamin Shoppe conducts business through more than 750 company-operated retail stores under The Vitamin Shoppe and Super Supplements retail banners nationwide.

The firm reports it paid $42.85 million for the eight-story, 233,166-square-foot, Class-A office property at 1111 West 22nd St. Located in the East/West submarket, the building is 93% occupied.

Integrating smart technology and services into apartment communities will help ensure better tenant retention.

With historically low interest rates and compressed cap rates, the recent rate cut won’t instantly drive more market activity.

Celebrating its 30th anniversary in 2019, the CREW Network has commemorated the milestone throughout the year and GlobeSt.com looks forward to this year’s convention, which will celebrate the network’s past and hear more about the brand’s future.