Office

Michael McGuiness, CEO of NAIOP New Jersey, reports that half of the properties identified for possible conversion are located in Hudson and Bergen counties.

Manhattan office leasing has taken a tumble with leasing volume dropping by nearly 50 percent quarter-over-quarter. The slowdown in leasing activity is attributed to the stark drop in transactions during March when the coronavirus pandemic, also known as COVID-19, commenced, according to a recent Colliers International.

Social distancing could create some long-lasting cultural changes that will rock asset sub-classes like co-working.

"The truth is, all of us will need to take a haircut in this unnerving time."

The Interdisciplinary Science Building on the San Jose State University campus is the first new academic building on campus in more than 30 years and the first new science facility in almost 50 years.

Since Ivy acquired the campus it has undertaken an extensive capital improvement campaign.

Borrower Parkway Property Investments recently obtained a five-year floating rate refinance loan for Two CityWestPlace, an office tower totaling 443,549 square feet at 2107 CityWest Blvd.

Lincoln Property Company recently completed approximately 32,000 square feet of leases for the class-A property, Parkside Tower, the largest of which was Scottish Rite's lease renewal of 21,358 square feet.