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ST. LOUIS—The new owners will transform the 29-story building into a combined boutique hotel and residential tower, one of several such projects underway in the CBD.
NEW YORK CITY—Factors ranging from strengthening consumer spending to “a decreased drag from fiscal policy” bode well for economic growth and therefore CRE demand, say economists at C&W and Delta Associates.
VOORHEES, NJ—New Jersey American Water has filed a petition with the New Jersey Board of Public Utilities (BPU) for new rates. Company president William Varley says the utility wants to recover the significant investment the company has made in New Jersey's water and wastewater infrastructure since its last rate increase in 2012.
SAN ANTONIO–CBRE Capital Markets' Investment Properties team is marketing three newly constructed, fully-leased retail centers in South Texas on behalf of San Antonio-based Bakke Development Corp.
BRIDGEPORT, NJ—WCRE arranged the sale of 600 Heron Drive, Bridgeport, NJ to 602 Heron Drive, LLC for $2 million. The new ownership group purchased the vacant warehouse facility from Omega Engineering, Inc.