COMMERCIAL REAL ESTATE

IKEA is opening its first Manhattan location, the company announced Monday, in an attempt to adjust to the realities of retail’s shifting landscape. The outpost, known as the IKEA Planning Studio, is expected to open in spring 2019 at 999 Third Ave., a mixed-use building owned by Zucker Organization. … Read more at BisNow.

 

HOUSING

City Plans to Convert Cluster Units to Affordable Housing

The city has made its first major step toward converting cluster housing sites into affordable apartments. On Tuesday, Mayor Bill de Blasio announced that the city is closing in on the acquisition of nearly 500 cluster units across 17 buildings in the Bronx and Brooklyn. … Read more at Curbed New York.

 

ENERGY

American Water Cut the Ribbon on Its New Camden HQ

American Water welcomed hundreds of people to a ceremony Tuesday to mark the opening of its new national corporate headquarters on the Camden Waterfront. The American Water Charitable Foundation presented a check of $200,000 to the Camden School District to develop an advanced STEM Lab at Woodrow Wilson High School. … Read more at NJ Biz.

 

HOSPITALITY

Kushner Companies Acquired the Princeton Marriott for $37.6 Million

Kushner Companies, a real estate company formerly led by President Donald Trump’s son-in-law Jared Kushner, has bought another New Jersey hotel. The company announced last week it bought the Princeton Marriott at Forrestal from Lone Star Funds for $37.6 million. … Read more at NJ.com.