News

PEEK Reock I QOF, LLC and PEEK Reock II QOF, LLC are set to break ground next year on two separate apartment-rental properties of 50 and 118 apartment-home units, respectively, within the city’s Reock Street Redevelopment Area. The combined development cost for the two projects is approximately $45 million.

The merger if finalized would strengthen ConnectOne’s scale and competitive position in the New York metro market and as one of New Jersey’s largest independent banks. Bancorp of New Jersey will add approximately $800 million of deposits and loans to ConnectOne.

The Rebuild Illinois initiative, passed and signed into law in June 2019, dedicates $400 million to partnering with Internet service providers to build 21st century infrastructure connecting communities across the state to high-speed Internet.

ENGIE North America Inc. completed a lease for approximately 110,000 square feet at 1360 Post Oak Blvd. in Houston’s Four Oaks Place, occupying floors four through nine beginning December 2019.

Both Nalbandian and Swidler come to Lee & Associates from NAI CIR, a brokerage firm founded by Nalbandian in 1970. While at NAI CIR, Nalbandian was a mentor to John Van Buskirk, SIOR, the co-founder of Lee & Associates of eastern Pennsylvania.

Among the new transactions was the new lease with Hazen and Sawyer, D.P.C., for 8,635 square feet, as well as a renewal and expansion for Barbara J. Prasse, P.A. for 2,416 square feet and a renewal with American Mortgage Services for 2,236 square feet.

NJ TRANSIT has identified additional opportunities for similar TOD projects in Bordentown, Bound Brook, Camden, Hoboken, Trenton, and other communities throughout the Garden State.

“Despite talk of a deconversion slowdown, and Chicago’s proposed ordinance to increase the required approval rate to prevent ‘hostile’ deconversions, we believe the trend will continue as long as investor appetite for multifamily remains strong and people prefer to live in apartments,” Stengle says.