CAPRE’s Commercial Real Estate Headlines for October 15, 2019
Check out the latest deals and developments in commercial real estate for October 15, 2019: American Metro Center in Hamilton, NJ Sells for for $84,700,000 USD: CBRE has brokered the sale of the American Metro Center (AMC) shopping mall in Hamilton, NJ. The CBRE team included Steve Bardsley, Jeffrey Dunne, David Gavin, Travis Langer, Zach McHale, Jeremy Neuer, of the CBRE Institutional Properties team, who acted on behalf the seller as well as secured the buyer, The Birch Group. “From the first time I walked the building, I was intent on acquiring this unique asset. I look forward to building on AMC’s past success by enhancing the amenity offerings and driving future leasing,” commented Mark Meisner, Principal of The Birch Group. “This is our second deal with The Birch Group,” added CBRE's Dunne, who will be a speaker at CAPRE's upcoming New Jersey Apartment Summit December 4. “Mark also purchased 350-360 Mt. Kemble from our team in 2018 and we anticipate many more. Mark worked hard to get over the finish line and we are confident he will be successful at AMC.” CBRE Makes Case for Light Industrial, Says "Bigger Not Always Better": A new CBRE report finds that demand for well-located, small light-industrial properties with less than 120,000 square feett continues to outpace demand for larger warehouses. According to CBRE, this trend has largely been driven by local economic activity, urban population growth and same-day delivery expectations of consumers.…
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