Tower CRE states that the launch of the new division was prompted by closing $50 million in cannabis-related retail and industrial transactions in the last 18 months with an additional $15 million in the pipeline that are expected to close by the end of this year.

Gains were realized in both the private (+9,600) and public (+600) sectors of the state's economy, according to statistics released by the New Jersey Department of Labor.

The firm purchased the 117,472-square-foot property from a national manufacturing company, according to brokerage firm Avison Young.

In the first half of 2019, sale volumes of multifamily assets with 100 units or more increased significantly in Phoenix, GlobeSt.com reports EXCLUSIVELY.