PALISADES PARK, N.J. — SAGE Investment Real Estate Advisors, a locally based brokerage firm, has arranged the $21.5 million sale of a 99-unit apartment building in the Northern New Jersey community of Palisades Park. The unnamed building offers studio, one- and two-bedroom units. Greg Pine and Steve Tragash of SAGE brokered the deal. The buyer and seller were not disclosed.
NEW YORK CITY — Trexquant has signed a 23,000-square-foot office lease in Midtown Manhattan. The quantitative finance firm is taking the entire 10th floor at 360 Park Avenue South, a 450,000-square-foot building. Peter Turchin, Gregg Rothkin, Hayden Pascal, Arkady Smolyansky, Ross Zimbalist and Trevor Larkin of CBRE, along with internal agents Andrew Levin and Will Stark, represented the landlord, BXP, in the lease negotiations.
The headline numbers in commercial real estate rarely tell the full story. First-quarter 2026 data is a case in point: Lee & Associates reports that industrial and multifamily are slowly absorbing a historic supply surge, office is staging an uneven recovery, and retail is contending with a shortage of quality space rather than a glut of it. Here’s a sector-by-sector look at where U.S. commercial real estate stands heading into the rest of the year — and which markets are bucking the trend. Sponsored: Download Lee & Associates’ 2026 Q1 North America Market report. Industrial Overview: Logistics Demand Moderates; Small Space Needs Gain There was continued weakness in the first quarter across North American industrial markets. The slowing has produced an overhang of newly delivered speculative logistics space, while rent growth has fallen to virtually nil. In the United States, net absorption totaled 32.8 million square feet in Q1, or 0.2 percent of the 19.3-billion-square-foot inventory. It was the lowest rate of tenant growth in more than a decade aside from the 17.6-million-square-foot contraction in Q2 following the U.S.’s initial tariff announcements. The overall vacancy rate in Q1 settled at 7.5 percent, which has nearly doubled since 2022 as new …
WETHERSFIELD, CONN. — Avison Young has negotiated the $19.1 million sale of Ridge275, a 64-unit apartment building in Wethersfield, located just south of Hartford, that was built in 2019. According to Apartments.com, Ridge275 offers one- and two-bedroom units that range in size from 850 to 1,230 square feet and amenities such as a pool, fitness center, business center and a resident clubhouse. The name of both the seller and the buyer, a Long Island-based developer, were not disclosed.
PHILADELPHIA — The hotel affiliate of New Jersey-based financial intermediary Cronheim Mortgage has arranged a $17.6 million loan for the refinancing of the Fairfield Inn & Suites Center City Philadelphia hotel in the city’s downtown area. The number of rooms was not disclosed. The loan carried a floating interest rate and a five-year term with no prepayment penalty. An unnamed regional bank provided the loan to the sponsor, which also requested anonymity.
PARSIPPANY, N.J. — Colliers has brokered the $5.2 million sale of a vacant office building in the Northern New Jersey community of Parsippany. Automotive insurance company DOWC previously occupied the three-story building at 199 Pomeroy Road, which according to LoopNet Inc. was constructed in 1985 and renovated last year. Jacklene Chesler, Patrick Norris and Brittany Leventoff of Colliers represented the buyer and seller, both of which requested anonymity, in the transaction.
NEW YORK CITY — Hunter Point Capital has signed a 46,000-square-foot office lease in Midtown Manhattan. The independent investment firm is taking the entire 15th and 16th floors at 360 Park Avenue South, a 450,000-square-foot building. Peter Turchin, Gregg Rothkin, Hayden Pascal, Arkady Smolyansky, Ross Zimbalist and Trevor Larkin of CBRE, along with internal agents Andrew Levin and Will Stark, represented the landlord, BXP, in the lease negotiations.
FRAMINGHAM, MASS. — A partnership between two regional hospitality firms, Colwen Hotels and XSS Hotels, has completed the renovation of a 371-room hotel in Framingham, a western suburb of Boston. Originally opened in 1975 as the Sheraton Tara Hotel and known locally as the “Castle Hotel”, the property now houses three Marriott-branded, integrated hospitality operations under the following brands: Renaissance Framingham Hotel & Conference Center, Fairfield Inn & Suites Framingham and TownePlace Suites Framingham. The renovation featured refreshed public areas, technology-forward meeting spaces and three reinvented food-and-beverage concepts, as well as updated furnishings and bathrooms in all rooms and suites.
NEW YORK CITY — A partnership between two local firms, owner-operator Slate Property Group and investment firm Avenue Realty Capital, has purchased a 16-unit apartment building in Manhattan’s Tribeca neighborhood for $32 million. The seven-story building at 45 White St. was originally constructed in 1868 as a commercial office and converted to residential use in 2009. Units come in studio, one-, two- and three-bedroom floor plans. Amenities include a fitness center and a children’s playroom. Guthrie Garvin of JLL represented the undisclosed seller in the transaction. The partnership was self-represented. White Oak Real Estate Capital financed the acquisition.
PITTSBURGH — CBRE has negotiated a 37,816-square-foot healthcare lease expansion in Pittsburgh. The tenant, Blink Health, a New York City-based provider of digital pharmaceutical services, is expanding from 53,076 to 90,892 square feet at the 148,000-square-foot Building 5 within Penn Center West, where Blink has been a tenant since 2009. Carmine DiLucente, Michael Stuart and Danielle Lafe of CBRE represented Blink Health in the lease negotiations. Adam Viccaro, Dominika Demantova and Charlie Must, also with CBRE, represented the landlord, The Soffer Organization.