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Good news from Atlantic City

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Gebroe-Hammer completes sale of Atlantic Highlands multifamily

By Elana Knopp
July 20, 2018 08:02 AM

Gebroe-Hammer Associates has finalized the $56 million sale of Thousand Oaks Village, a 304-unit apartment complex in Atlantic Highlands. CONTINUE READING

Progress Capital arranges refinancing for Newark multifamily

By Elana Knopp
July 20, 2018 08:05 AM

Progress Capital Partner Brad Domenico has arranged a million non-recourse permanent mortgage of more than $4.8 million for a client to refinance their multifamily property in Newark’s Weequahic neighborhood. CONTINUE READING

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Lofts at Lincoln Park officially opens in Newark

By Elana Knopp
July 19, 2018 01:38 PM

Newark Mayor Ras Baraka joined Mid Atlantic Alliance LLC executives Thursday to cut the ribbon on the Lofts at Lincoln Park in the city’s East Ward. CONTINUE READING

Increases in NJ prime logistics rents accelerate

By Elana Knopp
July 19, 2018 01:26 PM

New Jersey saw prime logistics rents – the highest achievable lease rates for top-quality warehouse and distribution center space – increase by 9.5 percent, according to a new report from CBRE. CONTINUE READING

Walters Homes office under construction in Ship Bottom

By Elana Knopp
July 19, 2018 07:55 AM

Walters Homes home builders will be consolidating four of its divisions with the construction of an office building in Ship Bottom. CONTINUE READING

HFF completes $9.1M financing for Swedesboro industrial

By Elana Knopp
July 19, 2018 01:35 PM

Holliday Fenoglio Fowler announced the $9.1 million financing for a 254,250-square-foot, Class B industrial building on 25.38 acres in Swedesboro. CONTINUE READING

Roseland launches leasing for RiverHouse in Weehawken

By Elana Knopp
July 19, 2018 10:09 AM

Roseland Residential Trust, a subsidiary of Mack-Cali Realty Corp., has launched the leasing of RiverHouse 11 at Port Imperial in Weehawken. CONTINUE READING

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It’s been a crazy couple of days, meaning I haven’t been able to write about the good news out of Atlantic City — namely, that gaming revenue jumped 12.6 percent over August 2011, the first increase since December.

But, like almost all the good news out of Atlantic City, the closer you look at this flower, the less you see petals and the more you see thorns.

August 2011 is notable in Atlantic City for two reasons — Revel wasn’t open, meaning there were only 11 casinos making up the total revenue, and Hurricane Irene, which forced the casinos to close for three days as the governor told visitors to “get the hell off the beach.”

Revel, since we’re on that one, remains stubbornly stuck in eighth place among the casinos, though its numbers have improved substantially since it opened. Is there a prize for rolling an 8 five times in a row? And the loss of a prime weekend last year was trotted out as the reason the city’s numbers were off, yet it’s the only reason there was an uptick this time around.

There’s also the good news that the Margaritaville project, which has replaced Revel as the city’s savior, got a key environmental approval out of the way for the beachfront bar and restaurant. The Jimmy Buffett brand will be a measurable help to the city during the warmer months, but will it draw in tourists in February?

The city still needs help to become a year-round destination, and whether Revel even lives long enough to see in the new summer is becoming a legitimate question. Atlantic City remains desperate for an old guy to save it, and given the timing, it won’t be Buffett or Revel CEO Kevin DeSanctis — it’ll be Santa Claus.

I’m even more irreverent on Twitter @joe_arney.

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Good news from Atlantic City

By

Back to Top Comments Email Print

Latest News

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It’s been a crazy couple of days, meaning I haven’t been able to write about the good news out of Atlantic City — namely, that gaming revenue jumped 12.6 percent over August 2011, the first increase since December.

But, like almost all the good news out of Atlantic City, the closer you look at this flower, the less you see petals and the more you see thorns.

August 2011 is notable in Atlantic City for two reasons — Revel wasn’t open, meaning there were only 11 casinos making up the total revenue, and Hurricane Irene, which forced the casinos to close for three days as the governor told visitors to “get the hell off the beach.”

Revel, since we’re on that one, remains stubbornly stuck in eighth place among the casinos, though its numbers have improved substantially since it opened. Is there a prize for rolling an 8 five times in a row? And the loss of a prime weekend last year was trotted out as the reason the city’s numbers were off, yet it’s the only reason there was an uptick this time around.

There’s also the good news that the Margaritaville project, which has replaced Revel as the city’s savior, got a key environmental approval out of the way for the beachfront bar and restaurant. The Jimmy Buffett brand will be a measurable help to the city during the warmer months, but will it draw in tourists in February?

The city still needs help to become a year-round destination, and whether Revel even lives long enough to see in the new summer is becoming a legitimate question. Atlantic City remains desperate for an old guy to save it, and given the timing, it won’t be Buffett or Revel CEO Kevin DeSanctis — it’ll be Santa Claus.

I’m even more irreverent on Twitter @joe_arney.

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