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Real Estate News Archive Page 2

Kushner Cos. adds Princeton Marriott to portfolio

New York City-based Kushner Cos. announced Monday its acquisition of the Princeton Marriot at Forrestal from Lone Star Funds for $37.6 million.

MREI acquires Georgia industrial building for $27.8M

Monmouth Real Estate Investment Corp. has acquired a 126,520-square-foot industrial building in Savannah, Ga.

Somerville property sells for $3.7M

Marcus & Millichap has sold a retail property in Somerville for $3,765,000.

premium content NJCU leaders: Public-private partnership a model

New Jersey City University senior Romina Generali is saving money by living in a building on campus at West Campus Village at University Place, which...

Middlesex Residential Urban Renewal receives $9.2M from The 100 Mile Fund

Procida Funding LLC announced Friday The 100 Mile Fund, which the company manages exclusively, provided a $9,200,000 pre-development/early stage...

Team Resources closes leases for Henkels & McCoy, L&W Supply Corp.

Engineering and construction firm Henkels & McCoy has leased approximately 42,500 square feet in Newark, Team Resources announced Thursday.

Avison Young inks 5 new leases in Ramsey

Avison Young has closed five separate office leases, representing more than 11,600 square feet total, in Ramsey.

Union City mixed-use building sets record $540 per square foot, M&M says

4900 Bergenline Ave. in Union City has sold for $5,050,000.

Dollar Tree, Goodwill expand NJ footprint

Two new Dollar Tree locations are coming to New Jersey through its exclusive statewide real estate representative R.J. Brunelli & Co., based in Old...

Nutley mixed-use building sells for $1.89M

A mixed-use building featuring seven residential and five retail units in Nutley has sold for $1,885,000.

Quest Diagnostics to build 250,000-square-foot lab in Clifton

Quest Diagnostics announced Wednesday that it will build a flagship laboratory in Clifton.

North Jersey industrial building sells for $51M

The Hampshire Cos. has sold an industrial building at 700 Union Blvd. in Totowa, completed this year, for $51 million.

Russo to recreate Kearny industrial site as multifamily, Cushman says

Russo Development will redevelop Kearny’s “Bat Factory” property, following its purchase of the six-acre site, as the second phase...

Bloom and Piechowski bolster McLaren leadership

Dawson Bloom and Michelle Piechowski have been added to Woodcliff Lake-based McLaren Engineering Group’s growing leadership team.

ElectroCore ups manufacturing in Rockaway

Basking Ridge-based bioelectronics medicine company ElectroCore Inc. has announced its expansion to Rockaway in support of increasing patient demand...

Frog Hollow development seeks to revitalize neighborhood

Elizabeth’s Frog Hollow neighborhood will leap into 2019 with a new multi-million dollar redevelopment, through an effort between GonSosa...

Bussel signs 76,556 square feet in industrial leases

Philadelphia Truck Lines and Blossom Kitchen Bath Supply have inked leases in Linden and Kearny, respectively, totaling more than 76,000 square feet,...

Kislak closes $6.5M sale in Elizabeth

Two multifamily properties in Elizabeth, totaling 62 units, have sold for $6.5 million, Woodbridge-based The Kislak Co. announced.

Roseland property fetches $17.2M

3 Becker Farm Road in Roseland has sold for $17.2 million—that’s a record-making $150 per square foot for the Essex County city,...

GS1 US arrives in Ewing

Ewing Mayor Bert Steinmann and more than 100 employees gathered Monday in Ewing to celebrate GS1 US’s move to the Princeton South Corporate...

premium content Finding that first home: Millennials, others may be surprised to learn they can qualify for mortgage

Being a millennial can be tough. The generation generally defined as 25-34 years old encompasses a lot of people who are staggering under huge student-loan debt and many also came of age during the Great Recession, when good-paying jobs were disappearing like melting icicles.

Vanguard Series: Leaders in commercial real estate

REAL ESTATE REPORT

As part of NJBIZ’s winter Real Estate Report, we are including a special Vanguard Series section looking at people connected to the commercial real estate sector who were nominated by their respective companies for significant contributions made over the past year.

premium content A multimillion-dollar balancing act: Builders must weigh short- and long-term concerns when assuming risk

REAL ESTATE REPORT

When New York City-based Hugo Neu Corp. began the $1 billion, multiyear Kearny Point project in 2014 — redeveloping the 130-acre former Kearny shipyard as a center for office, co-working and retail space — “the common wisdom was that there was already too much office space in New Jersey and no need for office space in Kearny,” according to Steve Nislick, the company’s CFO. “So, the idea of attracting new office tenants to Kearny was inherently very risky.”

premium content Looking for trouble: High-yield lenders willing to take on the projects others steer clear of

REAL ESTATE REPORT

When real estate developers approach a bank for financing, they will usually tidy up the company’s financial statements and other documents and put the finishing touches on a presentation highlighting the expected return on the project.

Paterson mixed-use property sells for $6.7M

Commercial real estate investment company Marcus & Millichap announced the sale of Park Ave Apartments, a mixed-use property in Paterson, for $6.7 million, said Brian Hosey, regional manager of the firm's New Jersey office, in a release.

Edelstein joins Scarinci Hollenbeck’s CRE group

Stephanie Edelstein joined law firm Scarinci Hollenbeck’s commercial real estate group as counsel on Tuesday.

Nextage M3 Realty joins Better Homes and Garden RE

Residential real estate brokerage Nextage M3 Realty, with offices in Edison and South Brunswick, is the newest member of the Better Homes and Gardens Real Estate LLC franchise network.

Levin names Harris to new vp leasing position

Stephanie Harris is joining North Plainfield-based Levin Management Corp. in the newly created role of vice president of leasing.

Coming 2020: 4.1M-square-foot Linden Logistics Center

Advance Realty and Greek Development announced plans for a 4.1 million-square-foot Linden Logistics Center, which would be the largest active industrial development in the Port of New York-New Jersey region, according to the partnership.

Equis, Fountain Group partner for Opportunity Zone fund

Equis Realty Partners LLC and The Fountain Group LLC are partnering to create Peek Development, a joint venture focused on Opportunity Zone projects in New Jersey, which already boasts more than $85 million in projects and 300 market-rate units under contract.

Country Club Plaza sold to Premium Capital Resources

Premium Capital Resources has purchased Paramus’ Country Club Plaza from Garrison Investment Group and Onyx Equities.

Team Resources announces two lease deals

Commercial and industrial real estate agency Team Resources has completed two lease deals.

L'Oreal's Clark R&D facility sells for $15.8M

ANG Management has purchased 175-195 Terminal Ave. at the Clark Commercial Center, the home of L’Oreal’s North American R&D division, from Denholtz Associates for $15.84 million.

Alfred Sanzari chooses R&J for PR, marketing

Alfred Sanzari Enterprises has named R&J Strategic Communications as its agency of record, R&J announced Monday.

Eastman Cos. announces leases for The Shoppes at Livingston Circle

Aldi, Fitness 1440, Moxie Salon & Beauty Bar and Cookie Cutters for Kids have all signed on for The Shoppes at the Livingston Circle, commercial real estate company Eastman Cos. has announced.

SOMA of Somerville planning for 2018 launch

SOMA in Somerville on schedule for completion with a launch anticipated before 2019, developer Sterling Properties announced.

Wainscot Media relocating to Park Ridge

Montvale publisher Wainscot Media is moving to Park Ridge.

New ShopRite coming to Wayne

Crossroads Companies LLC will construct a new 79,540-square-foot Inserra ShopRite at the Wayne Hills Mall after signing a long-term ground lease with mall owner Levco Associates.

Clark office building goes for $10.525 million

Joint-venture partners Mountain Development Corp. and Bukiet Building and Management Co. have traded 67 Walnut Ave. in Clark for $10.525 million.

JLL to lease Hoboken office building

Ivy Realty LLC has chosen JLL as exclusive leasing agent for its downtown Hoboken office building.

Joshua Motor Cars buys Pennsauken plot

Haddonfield Properties, doing business as Joshua Motor Cars, has purchased a 3,500-square-foot Pennsauken property from Auto Depot of Williamstown LLC.

EDA approves $39M tax credit to software company GoBrands

The New Jersey Economic Development Authority approved a tax credit award of $39.1 million to delivery software company GoBrands Inc. to construct new facilities in Gloucester County.

100 Mile Fund to provide $38.5M to Nyack College

Procida Funding has provided Nyack (N.Y.) College with a $38.5 million debt consolidation and working capital loan on behalf of The 100 Mile Fund, which Procida manages exclusively.

HFF secures $9.94M in financing for Bergen County space

Holliday Fenoglio Fowler LP has secured $9.94 million in acquisition financing on behalf of Northeast Capital Group of Ramapo, N.Y.

Ironside Newark nabs 2 new tenants

Real estate company Edison Properties said it is relocating its headquarters to Ironside Newark early next year.

OwnBackup signs on for Sylvan Corporate Center

OwnBackup Ltd. has signed an 11-year lease for 30,000 square feet of space at the Sylvan Corporate Center in Englewood Cliffs.

MRC closes $67.5M loan for Harrison multifamily projects

Madison Realty Capital announced Thursday it has closed a $67.5 million loan for the acquisition and construction of two multifamily development sites in Harrison.

Bergen County apartment complex sells for $43M

Bergen County’s The Fairview has sold for $43 million, Holliday Fenoglio Fowler LP said.

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