Karen Colburn

📣 Major Acquisition Alert! Progress Realty Partners, based in Tinton Falls, NJ, has added @Union Consumer Square in Cheektowaga, NY, to its growing portfolio—a 385,000 SF retail destination anchored by Sam's Club! Discover how this strategic investment strengthens their commitment to resilient, open-air retail spaces that energize communities: https://lnkd.in/eJxyDgxg #RetailRealEstate #CRE #ProgressRealtyPartners #BuffaloRealEstate

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Forecasts call for continued upward pressure on vacancies in the country's largest office markets, but Long Island is noticeably bucking the trend. Net absorption nationally is expected to be negative for the foreseeable future, particularly as leases signed before the pandemic expire and occupiers shop around for smaller spaces. Meanwhile, Long Island is past peak move-outs, and net absorption is projected to see a positive tally this year for the first time since 2019. Against this backdrop, the average vacancy rate will likely decline to under 9% this year from nearly 10% in 2023. On the other hand, office owners nationally and across neighboring New York City can expect more pain ahead, with their vacancy rates rising further towards 16% and 17%, respectively, by mid-2025. #longisland #newyork #office #demand #leasing #costar

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From Chain Store Age: Long Island mall set for $100 million makeover by Al Urbanski Schuckman Realty, which acquired Long Island’s 1.2 million-sq.-ft. Broadway Commons mall for $40 million in February, has announced plans for its $100 million renovation. Link to Full Story in Comments #retailnews #retailleasing #leasing #shoppingcenternews #schuckmanrealty #commercialrealestate #realestate #longislandrealestate #nyrealestate #longislandbusiness #longisland #businessnews #retailspace #retailspaceavailable #spaceavailable

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Co-ops are making a comeback as New Yorkers shift focus from new condos to more affordable co-op options. https://lnkd.in/gwasKdks #ArgoRealEstate #NYC #newyork #coop #condo #realestate #newyorkrealestate

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🚨 #MarketMonday: Northern NJ Industrial Market Update – Q3 2024 🚨 Sublease availability is rising in the Northern New Jersey industrial market, providing both challenges and opportunities for occupiers. 📊 💼 Key Insights: Sublease Space Growth: With a significant uptick in sublease options, occupiers have more flexibility in finding space that fits their needs—often at lower rates than direct leases. Rent Trends: Many sublease offerings are priced below market rates, creating opportunities for cost savings. Occupier Opportunities: Subleases offer faster occupancy solutions for businesses needing immediate space, ideal for scaling or streamlining operations. Market Dynamics: As more companies release space, competition may increase for landlords, but it also opens doors for savvy businesses to secure advantageous terms. If you're navigating this evolving market, let's discuss how Savills can help you optimize your strategy and capitalize on these opportunities. 📈 #CommercialRealEstate #IndustrialMarket #Savills #Sublease #RealEstateTrends #NorthernNJ

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#MarketMonday: Unpacking Northern NJ Industrial Trends Curious about the latest shifts in Northern New Jersey's industrial real estate market? 🚚 Savills' Q3 report highlights a critical trend: sublease availability is on the rise. As more companies re-evaluate their space needs, we're seeing increased options in core submarkets like Meadowlands, providing opportunities for businesses looking to adjust their footprints. For occupiers, this means more choices and potentially flexible terms in a historically tight market. If you're considering a new strategy for your industrial footprint or want insights tailored to your industry, let’s connect! #Savills #IndustrialRealEstate #CRE #Logistics #MarketInsights

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FCRC - Real Estate Trend Tuesday A recent report in BostonPads.com outlines key trends in Boston's 2024 mid-year apartment rental market: 1. **Market Normalization**: Boston's rental market is stabilizing, with availability rising above 5% for the first time in three years. 2. **Rent Prices**: Growth has slowed to 5-6% year-over-year, though prices remain historically high. 3. **Vacancy Rates**: The vacancy rate has increased but stays under 1%, signaling a gradual return to normalcy. 4. **Economic Factors**: High interest rates and inflation have hindered new construction, limiting housing supply and keeping rents elevated. 5. **Legislative Impact**: New policies, such as shifting broker fees to landlords and Biden's proposed rent cap, could influence rent dynamics. 6. **Outlook**: Rents may remain flat or slightly decrease by September, with potential further reductions in late 2024 due to excess inventory. Where do you think Boston's rental market is headed in the second half of 2024? ________________________ First Cambridge Realty Corp. has 31 current residential listings in Brookline, Cambridge, and Newton: https://lnkd.in/ezK5-EM8 Founded in 1966, First Cambridge Realty Corp. is a diversified and talented team of professionals who have tremendous experience in attending to our clients' needs, and we employ our own maintenance and construction teams to work on all our properties. 617.999.2287 https://fcrcorp.com/ #firstcambridgerealtycorp #metrowest #brookline #cambridge #falmouth #newton #residentialrealestate #residential #residentialapartments #commercialrealestate #commercial #bostonmarket #fcrcorp #properties #boston #superiorpropertiesingreaterboston #familyowned #realestate #realestaterentals #apartments #cambridgeapartments

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Here are highlights from the latest top news stories on luxury and global real estate, and home. Compiled by Sotheby's International Realty https://lnkd.in/eQRRbwWN #gibsonsir #bostoncondos #bostonhomes

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🏙️ NYC’s Housing Tax Breaks, Washington’s Tax Ruling, and Boston’s Property Tax Relief: Key State Tax Updates 📈 This week’s state tax changes bring updates that could reshape housing, investment, and property markets: • NYC’s New 485-x Program aims to spur office-to-housing conversions but may deter developers with its complex requirements. • Washington State Supreme Court upheld a narrow business tax deduction for incidental investments, impacting investment firms. • Boston will temporarily increase commercial property taxes to shield homeowners from a 28% tax spike. These changes highlight how tax policy responds to evolving economic needs in housing, investment, and property relief. #StateTax #HousingIncentives #WashingtonTax #BostonRealEstate #TaxPolicy #FinanceNews

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📈 New Jersey Office Market Sees Positive Momentum Heading Into 2025! Recent leasing activity and a NAIOP forecast signal optimism for the office sector: Net Absorption Turns Positive: For the first time in 5 quarters, more office space was occupied than vacated in late 2024, with 9.4M SF absorption forecast for Q4 2024 and 10.8M SF in 2025. Key Leases in NJ: - The Arbors @ Parsippany: Einhorn Barbarito expands by 50% with a 24,947 SF lease. - The Eisenhower, Livingston: McGivney Kluger Clark & Intoccia signs for 13,558 SF. - Glenpointe, Teaneck: Interstate Waste Services grows by nearly 30,000 SF; Auramet International renews. High-Quality Amenities: Tenants are drawn to Class A properties with advanced amenities, walkable retail, and flexible workspaces. While challenges like rising vacancy rates remain, a strong labor market, return-to-office mandates, and strategic investments in top-tier properties are driving renewed confidence. #OfficeMarket #CommercialRealEstate #NAIOP #NJRealEstate #CRERecovery #LeasingTrends https://lnkd.in/dk74VsW3

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🏡📈 Waltham, MA Home Prices Update - Q1 2024 📈🏡 Get Listings ➡️ https://bit.ly/3UGjwmz Waltham's real estate market has seen some significant changes in the first quarter of 2024! Here's a quick breakdown: ➡️ Single-family homes: Q1 2023 Median Price: $764,950 Q1 2024 Median Price: $735,000 Change: -3.92% ➡️ Condominiums: Q1 2023 Median Price: $626,750 Q1 2024 Median Price: $800,000 Change: +27.64% Considering buying in Waltham? These trends are crucial for making informed decisions. Stay tuned for more updates! ➡️ https://bit.ly/3JY8Aff 📊🏠 #WalthamRealEstate #HousingMarket #Q12024 #RealEstateTrends #Waltham #WalthamMA #RealEstate

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Is Lower Manhattan on the verge of an office revival? Commercial Observer looked to CompStak data to help answer this burning question... "The average overall weighted effective rent — meaning the rent actually struck between landlord and tenant, not the widely quoted asking rent — was $79.84 a square foot in Midtown versus $45.80 in Lower Manhattan at mid-year 2024. That’s a post-pandemic spread of 43 percent." 🗞️ Check out the Commercial Observer article for more: https://hubs.ly/Q02Q-ck30 #Data #CompStak #CommercialObserver #CommercialRealEstate #RealEstate #CRE #ManhattanRealEstate #Office

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UrbanMix recently became one of only 200 companies worldwide to earn a coveted presentation slot at the 21ST annual New York Venture Summit. The New York City-based event connects founders of the hottest venture backed, emerging and early-stage companies with an exclusive audience of venture capitalists, corporate investors, private investors, investment bankers, and strategic partners. The New York Venture Summit, presented by youngStartup Ventures, is the premier industry gathering for promising companies in tech, AI, fintech, cleantech, medtech, life sciences, and healthcare fields. With thousands of attendees each year and over 150 featured investors with over $250B under management, The New York Venture Summit is the event where significant deals are made. For UrbanMix, it is a rare opportunity to connect with investors, share their vision, and secure the funding they need to continue their important work. “We are thrilled to be part of such a prestigious event and look forward to sharing our unique offering to potential investors.”  The New York Venture Summit accepts presenters who meet strict criteria based on industry, stage, business model, size of the target audience, milestones achieved to date, and whether the company would be of interest to the featured investors. The presentation programs are geared toward emerging growth companies looking to gain visibility among active investors and raise capital. Companies looking to secure series A-C funding for $2-30M are eligible for the Top Innovators Program, while seed-stage companies can apply for the Seed Pitchfest Program.  To learn more about UrbanMix, visit https://www.urbanmix.tech/

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FUNDED DEAL: RCN Capital, a national direct private lender, funded a $400,000 1st lien position refinance loan secured by a 3-family residential property in Bridgeport, CT. The property value was appraised at $500,000 so our loan-to-value was 80%. We paid off a previous loan balance of $395,000. The subject property was acquired for $360,000 in September 2023 and underwent $20,000 in renovations to bring it to its current condition. It is now in good condition and all 3 units are leased, generating a monthly income of $5,200 which exceeds the market rent of $4,750 per month. This resulted in a 1.27 debt service coverage ratio. The building size is approximately 3,127 square feet. The Borrower had excellent credit. The loan term is 30 years with amortized payments and a 5-year prepayment penalty. The interest rate was fixed at 8.4% and we charged 1% origination points. This DSCR rental refinance loan was funded in May 2024. Visit this page on Private Lender Link to learn more about the deal and the lender: https://pllk.io/210468 Dealmaker: Stanley Zancho, Senior Loan Officer #privatelending #privatemoney #privatelenders #privatemortgage #hardmoney #hardmoneylenders #hardmoneylending #bridgelending #bridgelenders

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Boston stands out with the largest office construction pipeline in the U.S., boasting nearly 13.9M SF under construction. This represents 5.6% of the existing market stock with greatly exceeds the 1.2% national average. This development activity includes significant contributions from submarkets like Cambridge, Seaport, and Fenway. The city's construction landscape positions Boston uniquely in the national office market context and reflects (relative) resilience. In other words, for those who are discouraged by the current office landscape - there are much worse market conditions out there. Keep your head up and "survive 2025." #office #construction #bostondevelopment #bostoncre https://lnkd.in/eMnAsXBv

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