After 16 years of starts and stalls, three different developers and several anticipated opening dates, the often tight-lipped Triple Five Corp. announced last month that the $5 billion American Dream mega-mall in the New Jersey Meadowlands will open Oct. 25. Or at least portions of it will. The press release didn’t specify how much of the 3-million-sq.-ft. project would be open for visitors on that date.
The smallest 25 percent of one-bedrooms in the U.S. have lower vacancy rates compared to larger one-bedrooms, according to research firm the CoStar Group. For these smaller units, the average vacancy rate hovers around 5.0 percent, while the vacancy rate for larger one-bedrooms averages around 5.5 percent. In core urban submarkets, the vacancy rate for smaller units is around 3.0 percent, while the vacancy rate for larger one-bedrooms is slightly above 3.5 percent.
WeWork's IPO likely to reflect on the rest of the co-working sector, reports Crain's New York Business. Forbes looks at six elements to consider before purchasing an investment property. These are among today’s must reads from around the commercial real estate industry.
