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CALABASAS, CA—Despite month-to-month volatility, hiring trends since 2010 have been “remarkably sturdy, generating average monthly additions exceeding 200,000 jobs,” according to Marcus & Millichap's Hessam Nadji.
SOUTH BRUNSWICK AND MONROE TOWNSHIP, NJ—Taking advantage of strong demand in the tight Exit 8A Submarket, J.G. Petrucci Company is breaking ground for two build-to-suit industrial buildings located in Middlesex County, NJ. Company president Jim Petrucci says the firm likes to build smaller boxes, "contrary to the market.
BOSTON—Indianapolis-based Simon Property Group announced on Tuesday that it will begin a major renovation of its Copley Place retail center here in September. The firm also says it will begin construction sometime before the end of this year on the much-anticipated $500-million Copley Place Tower nearby.
LYNDHURST, NJ—Sitex Group is planning $3-4 million in capital improvements to the 184,000-square foot industrial it acquired at 1200 Valley Brook Avenue in Lyndhurst, NJ.
CONSHOHOCKEN, PA—Duke Realty Corporation, a nationwide REIT with more than nine million square feet of industrial properties in the northeastern United States, has opened a regional office in Conshohocken, PA, helmed by company veteran Jeff Palmquist.
SHORT HILLS, NJ— Underscoring comments by its CRE lending head that the bank would continue to expand CRE lending, Investors Bank booked six commercial mortgages valued at $128 million for the purchase of multifamily properties, refinancing of mortgages and for financing the construction of an apartment building in New York City.
AUSTIN—Austin-based Roscoe Properties Inc. has expanded its management portfolio, adding eight new multifamily communities to its oversight, across the state.