Office

Renaissance Properties bought the Midtown office building, which ABS Partners has been hired to lease.

At 6.33 acres, the former world headquarters for American Airlines and American Airlines Federal Credit Union provides investors with a rare opportunity to redevelop the campus into perhaps a headquarters.

As millennials flock to live and play in Brooklyn and Long Island City, Queens, work space is also driving leasing activity, according to CBRE's latest office market reports.

The project's development agreement must still be approved by the San Francisco board of supervisors and signed by the mayor, a process which could be complete as early as October of this year.

Under the Community Development Financial Institution initiative, the NJEDA will make up to $15 million available to CDFIs to expand their capacity to provide financing to New Jersey small businesses. Applications for the program are expected to be available in September 2019.

This is the first venture in South Florida by Gatsby Enterprises, and more purchases are planned in the region's urban cores.

As co-developers, Boston Global Investors, Eagle Development Partners of Stoneham, MA, EDGE and The Cogsville Group of New York City form the general partnership of the project, each contributing what the partnership terms as “significant capital.”

The REIT acquired the 196 Orchard St. condominium units totaling 60,297 square feet.