Globest Sectors

George Comfort & Sons' Duncan, who noted that the firm has holdings and development projects in New York City, Westchester and Fairfield County, CT, said that the city's suburbs should benefit from what he still considers will be a “very robust” New York City commercial market.

Phoenix started as a value-add market, and while there are still plenty of value-add opportunities, core investors are also finding strong deals.

In the fourth quarter, the Rochester, NY-based private REIT managed by Broadstone Real Estate, LLC, purchased 43 properties for approximately $241.5 million.

Comerica Bank, based in Dallas, and Colony Credit Real Estate, which is located in Los Angeles, are providing the construction financing for the Jefferson Vista Canyon development.

The Station will feature approximately 400,000 square feet of commercial and retail space, more than 600 apartment homes as well as more than 250 single-family homes that are to be built by Ashton Woods and K. Hovnanian Homes.

The sale of the 81-unit apartment set a per-unit record for vintage apartment buildings in the area.

The deal, which closed at the end of 2018, was the largest industrial lease of the year.

The New York City-based REIT's deal for the 138,779 square-foot shopping center marks its entry into the DC retail market. Eastgate is anchored by a 56,526-square-foot Giant Food supermarket.