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UNION, NJ—Got logistics? Chicago-based Bridge Development Partners, LLC will build a new, class A, institutional-quality industrial building on the site of the old Tuscan and Lehigh Dairy milk processing operation in Union, NJ. Bridge acquired the 18-acre site from Industrial Realty Group. Dairy operations at the property ceased in 2006.
BALTIMORE, MD—Delta Associates forecasts that the region's direct vacancy rate will decline to 8.6% year-end 2015, with demand exceeding new supply by approximately 1.4 million-square feet.
MIAMI—“We anticipate that today's robust South Florida construction demand will intensify in private and public sectors throughout 2015,” Miller's Brian Sudduth tells GlobeSt.com's Jennifer LeClaire.
WASHINGTON, DC—The Hill Group's plan to relocate operations from Maryland to a narrow downtown DC lot has recently been approved by the Board of Zoning Adjustments.
WASHINGTON, DC—Although the U.S economy is booming, the DC area economy outlook is murky as economists see some positive trends on the horizon, but also predict continued low wage and job growth will dog the region.
You know we are in the mature part of the cycle when institutional investors start hashing over just what is a secondary market. What they are really concerned about and trying to rationalize is buying assets in higher risk markets with suspect tenant depth and limited exit strategies if times go bad. And oh by the way that's just about everywhere outside the leading 24-hour cities. It's just a matter of degree of how risky…
SECAUCUS, NJ—In addition to closing the facility until the end of 2016, the state's deal with the Prudential Center in Newark also calls for restrictions as to what events the Izod Center here would book once it reopens.