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The sale transaction for the 93.3%-leased shopping center was announced by brokerage firm HFF, which marketed the property on behalf of the seller, Retail Value Inc, which earlier this month spun off of Beechwood, OH-based DDR Corp.

Tony Cho, CEO of Metro 1, says his firm is seeking a hospitality partner to co-develop the one-acre site located at the intersection of Northwest 2nd Avenue and 29th Street. The conceptual plan calls for the development of hospitality, office, retail and possibly residential space.

“Each of these Monmouth County class-B properties is poised for value-add enhancements and are among the most attractive asset class for investors, particularly since they account for almost 64% of the Central Jersey metro's total inventory,” says Gebroe-Hammer's Adam Zweibel.

Among its fastest growing markets, uBreakiFix opened nine new locations in the Kansas City area and four new locations in Florida in the second quarter. The firm also expanded its footprint in Omaha, NE; Toronto, Ontario and other existing markets.

Less than a year after the city passed a comprehensive rezoning of Far Rockaway, the city's Department of Housing Preservation and Development and Housing Development Corp. also reported on Wednesday they recently closed on construction financing to deliver 457 units of affordable housing for the initial phase of the Far Rockaway Village project.

“During the first half of the year, ongoing demand for strategic distribution locations helped drive rental rates to historically high levels,” says Colliers International's David A. Simon.

Passco's portfolio in the Sunshine State now totals more than 3,000 units, according to Colin Gillis, VP of acquisitions, southeast at Passco.

The Brooklyn facility, a former warehouse, will be the largest climbing gym in New York City when it opens in the summer of 2019.