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Mayor Bill de Blasio is ending the 17-year-old cluster site program, helping non-profit developers acquire the properties to create affordable housing.
Even as retail is tied with industrial for the best value, Situs RERC's Kenn Riggs says that “pricing for high-quality retail is holding up although the market is quiet on the transaction side."
In the case of long-term master leases, developers should be satisfied with the current income situation of the property before any redevelopment, Voit's Seth Davenport tells GlobeSt.com.
On a more positive note investing conditions grew modestly stronger in many metro markets during the quarter compared to the preceding quarter, according to Freddie Mac.
CenterCal Properties' new 375,000-square-foot retail, dining and entertainment destination, The Veranda, has a musically choreographed $1.7 million water feature, GlobeSt.com learns in this <b>EXCLUSIVE</b>.