News

In consideration of precautions taken to stem the spread of the coronavirus, a planned March 27 groundbreaking for the new Residence Hall was postponed, according to an update provided by Stockton University on Saturday.

The 15-year Freddie Mac loan secured on behalf of Chestnut Hill Realty features a 65% loan-to-value ratio and a 30-year amortization schedule.

IIP entered into a long-term, triple-net lease agreement with a subsidiary of Parallel, which intends to continue to operate the property as a regulated medical cannabis cultivation and processing facility.

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.

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.