Multifamily

Going forward, Tzadik is focusing on expanding its real estate investments in the upper Midwest.

56% of respondents said they still planned to buy a home in the next five years, suggesting the long-term optimism of renters hasn't been completely crushed.

The company expects to break ground on the first phase of the 36-acre development in Cayce, SC in late 2021.

Further expanding its greater Philadelphia multifamily capital markets team, CBRE has hired Brad Megay to serve as an associate.

"But with New York City having entered Phase 2 of reopening in late-June and pockets of New York State already in Phase 4, there are promising signs of a recovery in the second-half of the year," says Colliers' Franklin Wallach.

As millennials prepare to have children, the rental market needs to prepare with family-oriented developments.

The 35,000-square foot building will be part of Founders Square, a 55-acre mixed use development of residences and retail stores.

Block 10 is designated as a "opportunity zone" project, yielding tax benefits for investors and spurring development in a low-income area.