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NEW YORK CITY—CBRE Group Inc. reports that the Manhattan office and retail markets showed continued strength in the third quarter. Leasing activity increased in the Midtown, Midtown South and Downtown office markets, while the city's retail sector saw a number of major department stores announce their planned entrance into the Manhattan marketplace.
CHICAGO—The new firm is a branch of Magellan Development Group, which built the 28-acre Lakeshore East project in Chicago, and will buy multifamily communities across the US.
LOS ANGELES—Houses, as opposed to apartments, now comprise more than one-third of the rental market nationwide, CBRE says, although rental growth generally is expected to remain robust.
SHORT HILLS, NJ—General contractor, construction manager and design builder Hollister Construction Services is modernizing The Pingry School's Lower School, an independent coeducational K-5 day school in Short Hills, NJ.
SECAUCUS, NJ–Xchange at Secaucus Junction, a luxury rental community, has added a new high-end apartment building, Next and a state-of-the-art membership-based “amenity center” called The Station.
ATLANTIC CITY, NJ—The ownership of the Trump Taj Mahal could decide as soon as next Monday to close without needed concessions from Local 54 of UNITE HERE, representatives of Trump Entertainment Resorts told a federal bankruptcy court judge on Tuesday.
TRENTON, NJ—While the state's Economic Development Authority approved more than 10 projects for a total of $180 million in incentives, the buzz at the session centered on a project that never made the agency's final agenda.