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New Jersey Medical/Office Property Sells for $22 Million

New Jersey Medical/Office Property Sells for $22 Million

by Phil Hall | Feb 11, 2025 | Commercial Real Estate News, Market Snapshot, News/Current Events, Real Estate News, WRE News Exclusive

A 151,339-square-foot medical/office building in Fairlawn, New Jersey, has sold for $22 million. Located along Route 208, the three-story property was built in 1986 and is anchored by Summit Health, which consolidated five area sites and practices at this location....
FEMA Suspends Payments to NYC Hotels Housing Illegal Immigrants

FEMA Suspends Payments to NYC Hotels Housing Illegal Immigrants

by Phil Hall | Feb 10, 2025 | Commercial Real Estate News, Real Estate News, WRE News Exclusive

The Federal Emergency Management Agency (FEMA) has suspended payments sent to hotels in New York City lodging illegal immigrants after Elon Musk posted that the Department of Government Efficiency (DOGE) discovered $59 million was sent last week despite President...
Newsom Backs Bill Providing Homeowners with Interest Earned on Insurance Payouts

Newsom Backs Bill Providing Homeowners with Interest Earned on Insurance Payouts

by Phil Hall | Feb 10, 2025 | Market Snapshot, News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

California Gov. Gavin Newsom announced his support for new legislation designed to ensure that homeowners lenders benefit from the interest earned on insurance payouts, particularly those impacted by the recent Los Angeles County destructive wildfires. California law...
Union Sues to Halt DOGE Access and Work Stoppage at CFPB

Union Sues to Halt DOGE Access and Work Stoppage at CFPB

by Phil Hall | Feb 10, 2025 | Market Snapshot, News/Current Events, Real Estate News, WRE News Exclusive

A labor union representing workers in the Consumer Financial Protection Bureau (CFPB) has filed two lawsuits against Acting Director Russ Vought’s efforts to stop work at the regulatory agency. Axios reports the National Treasury Employees Union (NTEU) filed its...
Only 15% of Q4 California Homebuyers Could Afford a Median-Priced Home

Only 15% of Q4 California Homebuyers Could Afford a Median-Priced Home

by Phil Hall | Feb 10, 2025 | Market Snapshot, News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Only 15% of California homebuyers could afford to purchase a median-priced, existing single-family home in the state during the fourth quarter of 2024, according to the latest data from the California Association of Realtors’ Housing Affordability Index. This is down...
New Initiative to Raise College Student Awareness of Commercial Real Estate Careers

New Initiative to Raise College Student Awareness of Commercial Real Estate Careers

by Phil Hall | Feb 10, 2025 | Commercial Real Estate News, Market Snapshot, News/Current Events, Real Estate News, WRE News Exclusive

The Mortgage Bankers Association (MBA) is partnering with the Pension Real Estate Association (PREA) Foundation in an endeavor to encourage college students to consider careers in the commercial real estate finance industry. The partnership will highlight MBA’s and...
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