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WASHINGTON, DC—Brokers are tired of the $100,000 signing bonuses and disputes over commissions, Jarvis says. Well, maybe not the $100,000 signing bonus itself but the subsequent pressure to earn enough revenue to meet the bonus.
JERSEY CITY, NJ—Gramercy Property Trust has sold 70 & 90 Hudson Street, twin class A office buildings on the Jersey City waterfront to Spear Street Capital for $299 million. The combined buildings total 858,000 square feet, making it the largest New Jersey office deal this year.
HYATTSVILLE, MD—It acquired the 36,000-square foot Shoppes at Arts District for $20.5 million following its off-market purchase of DC's East River Park Shopping Center.
BETHEL, PA—Dermody Properties and Granite Real Estate Investment Trust have leased the majority of their 750,000-square-foot industrial facility in the Lehigh Valley to a global consumer electronics company they declined to identify. The company has leased 500,400 square feet of the facility, which is located in the 323-acre industrial park known as Berks Park 78.