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The acquisition will add restaurant and retail petroleum specialty asset classes to Newmark's valuation and advisory practice.

Under the terms of a Memorandum of Understanding, Welltower and Jefferson would create a joint venture whereby Welltower would acquire a stake in certain real estate assets of Jefferson.

JLL states in its year-end 2019 report on the Chicago industrial market that after some nervousness earlier in the year, large occupiers returned to the market.

The shopping center, which is anchored by grocer Stop & Shop, is located on 14.4 acres at 1600 Perrineville Road.

In his second State of the State address, Murphy said he is not giving up on enacting a "Millionaire's Tax" to ease the property tax burden on the state's middle-class and seniors and to help fund the state's public school system.

The Altman Family, who disposed of the real estate from its portfolio, had a 75,000-square-foot warehouse on the land. B6 Real Estate Advisors and Cushman & Wakefield represented on behalf of the seller.

The firm's expert economists identify major trends and offer predictions for the region in the coming year.

"We don't see a big economic downturn in 2020. The CRE market will hold its own," says Mitti Liebersohn, president and managing director of New York operations at Avison Young.