News

Madison Capital and Salmar Properties have signed two new leases at Liberty View Industrial Plaza located at 850 Third Ave. in Sunset Park, Brooklyn.

Radnor Property Group announced last week it had officially started construction on the second phase of the $175-million, 500,000-square-foot The Hamilton, which is located steps from the Community College of Philadelphia's main campus.

The purchase price represents a 6.2% underwritten capitalization rate.

Spruce Capital secured $102 million in Fannie Mae financing that was arranged by Newmark Knight Frank in connection with the purchase.

The reforms include the creation of an independent inspector general to oversee the EDA, a chief compliance officer within the authority, the annual recertification of awards with additional penalties for violations, and the Senate's advice and consent on the appointment of top EDA officials.

Cushman & Wakefield continues to market the remaining approximately 845,000 square feet at the 230-acre site, which represents one of the largest blocks of available modern warehouse space in the New Jersey and Northern Pennsylvania markets.

The New York Department of State has issued new guidance that will end tenant-paid rental commissions for landlords who retain a real estate agent. It has caused an uproar from the local real estate industry, who'll look to pursue legal action and say the legislation will hurt tenants more than help them.

The building was previously AT&T's corporate office and is currently partially leased to a number of office tenants.