Northeast

Real estate services firm Cushman & Wakefield has appointed commercial real estate veteran Pay Wu as the New York Tri-State Regional Lead for Global Occupier Services.

Amazon has acquired WeWork's Lord & Taylor building at 424–434 Fifth Avenue between West 38th and 39th Streets in Manhattan for $1.1 billion.

Madison International Realty, a real estate private equity firm, has closed its commingled investment fund the Madison International Real Estate Liquidity Fund VII, with $1.2 billion of equity commitments, including sidecars, co-investment vehicles and general partner commitments.

Buildings that previously housed banks tend to be popular as they already have secure structures that comply with the cannabis industry's unique security provisions.

"Construction projects always have a 'time for completion' component and many contractual provisions may certainly come into play in any construction project which is affected by labor shortages from the coronavirus."

The deal for the 350-acre campus also features a sale-leaseback component with Deerfield, IL-based Caterpillar Inc. The construction equipment manufacturer plans to keep approximately 500 of the company's employees on site and will lease back an office building along with a portion of adjacent industrial space.