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In its report on the three boroughs for the month of August, the brokerage firm says that concessions remain a key part of leasing strategy in Manhattan and Brooklyn and to a lesser degree in Queens.

The new tenant representation team also includes tenant advisors Ted Lacy, Tyler Roeller and Josh Evans. Together, they bring more than 40 years of experience, working with retailers like Ace Hardware, Wendy's and The Little Gym International across the US.

Separately it has been reported that Corporate Office Properties Trust is under contract to acquire 78 acres in Sterling with plans to develop multiple data centers for Amazon Web Services.

The seller, a Wharton equity company, acquired the property in early 2017 in an off-market transaction from the original developer and thereafter undertook significant renovations at the property that produced dividends.

The recently completed property was acquired by Hudson Capital Properties, a New York-based company headed by the family that runs Hudson Media, the leading magazine distributor in the Northeastern U.S., as well as the nation's largest airport news and concessionaire.

The property, located at 2900 Connecticut Ave., NW in Washington's historic Woodley Park neighborhood, achieved occupancy stabilization in just eight months after the initial lease-up period.

The projected construction cost of the project is $75 million. The operating costs of the facility for the first 10 years (2019-2029) is estimated at $184.8 million.

Since 2013, improving economic conditions in the housing market area have led to increased net in-migration, averaging 24,800 people annually, and the Beaverton-Hillsboro submarket comprises 28% of the total.