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Real Estate

Hill International gets 6.6M extension on 7.8B Saudi development

According to the announcement, the one-year contract extension, awarded by the Public Pension Agency of the Kingdom of Saudi Arabia, has an estimated value to Hill of approximately $6.6 million. The Financial District site includes about 17.2 million square feet and the $7.8 billion development is expected to have floor space of more than 32.3 ...

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NGKF selected to market 19-story Newark office tower

According to the announcement, NGKF can re-lease the building as a single- or multi-tenant property. Part of the four-tower Gateway complex, Three Gateway Center includes a cafeteria, fitness center, daycare center, conference center, parking and rooftop helipad. The office is adjoined via skyway to Newark Penn Station, which connects to neighboring New York Penn Station ...

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Pierson Commercial hires David Zaro

According to the announcement, Zaro brings more than a decade of experience in the New Jersey commercial real estate market to the brokerage division of Pierson Commercial and will concentrate on the marketing and leasing of shopping centers, investment sales, land acquisition, development and tenant representation on behalf of the company’s clients throughout Central and ...

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HFF secures 22M retail center financing

According to the announcement, HFF worked exclusively on behalf of Heitman and Ramco-Gershenson Properties Trust, to place the three-year loan with a national bank, at a floating interest rate of LIBOR plus 175 basis points.Chester Springs Shopping Center is located on more than 20 in downtown Chester. The center is 96.6 percent leased and is ...

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Sotheby’s opens Saudi Arabia office

According to the announcement, the company will conduct business as First Regents Sotheby’s International Realty with Paul Aiken as managing broker. The office in Riyadh will serve the luxury residential real estate market throughout Riyadh, Jeddah, Dammam and Al Khobar.First Regents Sotheby’s International Realty is located at King Fahad Road, Tatweer Tower in Riyadh. The ...

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Bloomfield is aiming to develop into urban hotbed

“You name the obstacles associated with the redevelopment process, and they existed on that site,” said Glenn Domenick, Bloomfield’s director of community development, naming environmental woes, an eminent domain dispute and a revolving door of developers and consultants over more than a decade. So it’s no small feat that the block is now home to ...

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Vornado to sell 866 UN Plaza in Manhattan for 200M

News of the sale came out of the company’s Paramus office, where it has significant operations. According to the announcement, the sale, subject to customary closing conditions, will result in net proceeds of approximately $146 million, after repaying existing debt and closing costs. The financial statement gain will be approximately $128 million. The building is ...

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UMH acquires 5 manufactured home communities for 11.8M

According to the announcement, the five all-age communities contain a total of 519 developed home sites that are situated on approximately 200 total acres. This portfolio consists of four communities located in Ohio and one community located in New York. The average occupancy for these communities is approximately 82 percent. The company now owns seventy-four ...

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