JLL: Ridgefield Park site approved for 552-unit rental project on the market for sale

60 Challenger Road in Ridgefield Park — Courtesy: JLL By Joshua Burd The owner of a Bergen County development site with approvals for more than 550 apartments is seeking a buyer for the property, in a newly announced offering by JLL. Spanning roughly four acres in Ridgefield Park, the tract comprises two...

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Hampshire unveils 70-unit rental building, as Allendale redevelopment plan comes to fruition

The Hampshire Cos. and RHO welcomed local officials and a project team to mark the opening of The Vale, a new 70-unit luxury apartment building at 220 West Crescent Ave. in Allendale. — Photos by Aaron Houston/Courtesy: Hampshire By Joshua Burd The Hampshire Cos. has completed a new 70-unit luxury apartment...

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Lee & Associates adds 2 experienced brokers to Edison team as SVPs

Lee & Associates on Thursday announced it further strengthened its market-leading team of New Jersey brokerage specialists with the additions of Monica Franco and Claudia Ganas as senior vice presidents. These experienced industry professionals are based in the commercial real estate firm’s Edison office. Together, Franco and Ganas have closed...

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Northwind closes $70 million construction loan to 209-unit Journal Square rental project

A development at 622 Summit Ave. in Jersey City is slated to bring 209 luxury apartments to the city’s Journal Square section. — Courtesy: Northwind Group By Joshua Burd A developer has landed a $70 million construction loan to complete a new 209-unit apartment tower in Jersey City’s resurgent Journal Square...

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CRE investment brokerage SAGE launches in Morristown

Following its involvement in the sale of the Metropolitan Lofts in Morristown announced earlier this month, SAGE Investment Real Estate Advisors is making its official debut. Based in Morristown, co-founders and partners Steve Tragash and Greg Pine lead SAGE, a fully integrated provider of commercial real estate investment services. The two...

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All-star cast of experts set for Rutgers Real Estate symposium on distressed mixed-use projects

Distressed mixed-used projects. Changes in the cost of money combined with supply-chain issues are making it an issue many developers (and bankers and builders and municipalities) are dealing with every day. Many mixed-use projects seemingly are in danger of not being completed. What to do? On Feb. 7 at the New Jersey Law...

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Kushner nears topping out of first tower, start of second phase for One Journal Square project

Kushner Cos. says the first phase of One Journal Square in Jersey City will top out in April, when it will also start vertical construction of the project’s second phase. The completed development will include 1,723 rental units with more than 40,000 square feet of indoor and outdoor amenity...

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More big names announced for Rutgers Real Estate symposium on distressed mixed-use projects

It’s an issue many developers (and bankers and builders and municipalities) are dealing with every day: Changes in the cost of money combined with supply-chain issues are putting a lot of mixed-use projects in danger of not being completed. What to do? On Feb. 7 at the New Jersey Law Center...

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Middlesex retail center with new SuperFresh store fetches $8.6 million, NAIDB says

242 Lincoln Blvd. in Middlesex Borough — Courtesy: NAI DiLeo-Bram & Co. By Joshua Burd A private seller has completed its trade of a nearly 70,000-square-foot, grocery-anchored retail asset in Middlesex Borough, brokers with NAI DiLeo-Bram & Co. announced. The transaction, which was valued at $8.55 million, preceded the opening of a...

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NJM moving Parsippany office to 53K square feet at The Arbors

Follow its $15 million renovation, The Arbors in Parsippany has attracted a homegrown company with big-time name recognition. NJM Insurance Group signed a leased for a new, 53,000-square-foot office space at the five-building, 60-acre campus, Woodbridge-based Onyx Equities LLC announced Jan. 17. While the move to 1 Sylvan Way isn’t far...

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NJBA installs Tantleff as board chair, pledging continued focus on housing affordability

By Joshua Burd The New Jersey Builders Association has installed Debra Tantleff as its new board chair, tapping a key figure in the industry as it prepares for a new year of advocacy and education for thousands of professionals involved in housing construction. Tantleff, the founding principal of TANTUM Real Estate,...

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HMH Ambulatory Care Center at ON3 on track for fall delivery

After breaking ground last May, construction on Hackensack Meridian Health’s new Ambulatory Care Center in Clifton is on track. Prism Capital Partners LLC provided an update on the development Jan. 11, announcing an anticipated November delivery for the 80,000-square-foot state-of-art facility at ON3. According to the real estate owner, operator and...

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CBRE arranges 31,842 sq. ft. lease for Launch Entertainment in Little Ferry

Launch Entertainment, a leader in indoor family entertainment, inked a 31,842-square-foot retail lease at 260 Bergen Turnpike in Little Ferry, according to a Wednesday announcement from CBRE, which arranged the transaction. The space is within a 155,444-square-foot grocery anchored shopping center. Launch will move into the location formerly occupied...

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iStar, Starfield land $80 million construction loan for Asbury Park rental project, JLL says

The project known as SURFHOUSE Asbury Park is slated to bring 226 luxury apartments and townhomes to 1150 Kingsley St. near the city’s iconic waterfront. — Rendering courtesy: JLL By Joshua Burd A joint venture has snagged an $80 million construction loan for a project that will bring 226 luxury apartments...

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Saddle Brook Acme grocery store sells for $16M

The Saddle Brook Acme Markets grocery store property has a new owner. JLL Capital Markets announced Jan. 9 it closed the sale of the 62,504-square-foot single-tenant site for $16.1 million, representing the seller, Vision Real Estate Partners of Mountain Lakes. The Winter Organization acquired the asset located at 75 Mayhill St....

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Colliers reps ‘world’s paper company,’ Sylvamo North America, in 431,720 sq. ft. industrial lease

Sylvamo North America has extended its lease at a 431,720 square-foot single-tenant facility at 1500 John Galt Way in the Haines Center Industrial Park of Florence Township, according to a Tuesday announcement from the Colliers industrial team of Marc Isdaner and Alex Stringfellow. Sylvamo is recognized as “the world’s paper...

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2020 Acquisitions lands first tenant at 4.2 million sq. ft. Old Bridge industrial park

A project by 2020 Acquisitions calls for the development of a nine-building, 4.2 million-square-foot industrial park along Route 9 in Old Bridge, as depicted in this rendering. — Courtesy: Cushman & Wakefield By Joshua Burd A packaging and fulfillment firm has leased more than 192,000 square feet to become the first...

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Jackson medical office building sells for $24M

National real estate firm Horizon Equities has acquired an Ocean County medical office building in Jackson. JLL Capital Markets announced Jan. 4 it arranged the $24 million sale of the 150,000-square-foot Jackson Health Village. The firm worked on behalf of the unnamed seller and procured the buyer. Located on South Cooks...

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Fennelly Associates, Arizona-based Keyser co-broker $2.3M Hamilton office sale

Fennelly Associates and Keyser, a nationally recognized, full-service commercial real estate brokerage firm based in Scottsdale, Arizona, announced they have negotiated the sale of a 9,772-square-foot office building at 2291 Route 33 in Hamilton for $2.3 million. Fennelly Associates and Keyser represented the buyer, DMI, in the transaction. Established in 1957...

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STRO Cos. elevates Elliot Ferris to senior role to drive growth 

The STRO Cos., a real estate services provider for the Millstein family office, on Tuesday announced that Elliot Ferris has been promoted to senior director of leasing and acquisitions. The Ridgewood-based firm said Ferris’ promotion was a natural choice, given his years of leasing experience, market knowledge and longstanding relationships...

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DRA, Onyx sell 288,000 sq. ft. Paramus office building to First Mile Properties

61 South Paramus Road in Paramus — Courtesy: Cushman & Wakefield By Joshua Burd DRA Advisors and Onyx Equities have sold a nearly 288,000-square-foot office building in Paramus, in a newly announced deal by Cushman & Wakefield. According to a news release, First Mile Properties paid an undisclosed price in the transaction...

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Life sciences firm moving to Jersey City from Brooklyn, inking lease at Thor’s 95 Greene

95 Greene St. in Jersey City — Courtesy: Thor Equities Group By Joshua Burd Another life sciences company is headed to Jersey City from Brooklyn under a newly completed lease with Thor Equities Group, in a deal arranged by brokers with JLL. RegenLab USA, which manufactures devices for the production of regenerative...

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Kaplan, Nuveen close $27 million loan for new 128-unit Toms River rental project, JLL says

Camelot at Toms River at 100 Kaplan Court in Toms River — Courtesy: JLL By Joshua Burd Kaplan Cos. has secured nearly $27 million in financing for a newly built, 128-unit apartment property in Ocean County, in a newly completed deal by JLL. According to the debt placement team, Nuveen Real Estate...

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SJP eager to take on numerous architectural challenges that come with new Nokia Bell Labs facility at HELIX

Enough room for indoor drone flights … enough cooling to do quantum computing at extraordinarily low temperatures … enough power to meet electrical needs that are exponentially greater than a standard office complex … enough strength and support to handle floor loads that are much heavier than your standard...

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Provident provides $8.3M financing for grocery-anchored center

Retail shopping center Barnegat Village Square in Ocean County secured $8.3 million in refinancing from a local lender, Provident Bank. According to a Dec. 20 announcement, JLL represented the borrower, an affiliate of the Walters Group, to secure the 10-year, fixed-rate loan through the Jersey City-based financial institution. Developed in 1998...

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Dalfen Industrial buys newly built, 470,000 sq. ft. warehouse in western Morris County

Roxbury Logistics Center at 1879 Route 46 in Roxbury — Courtesy: Dalfen Industrial By Joshua Burd Dallas-based Dalfen Industrial has made its third deal in New Jersey in roughly six months, acquiring more than 470,000 square feet of newly built logistics space in Morris County. The firm on Thursday said it purchased...

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Fifty-Five Union in Newark earns Fitwel certification; 1st residential building in city to receive designation

Newark-based developer J&L Cos. recently announced that Fifty-Five Union, a new luxury rental building in Newark’s historic Ironbound district, was officially named a Fitwel-certified building. This recognition marks Fifty-Five Union as the first residential building in Newark to receive the certification, a testament to the developer’s commitment to the...

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Levin Management inks Sakura Teriyaki lease at Jersey City retail property

A lease commitment by quick service restaurant Sakura Teriyaki has secured a new dining option for Twin City Shopping Center in Jersey City. Levin Management Corp. serves as exclusive leasing and managing agent for the 95,000-square-foot, grocery-anchored retail property, located at the intersection of Garfield Avenue/Broadway and 53rd Street. LMC’s E.J....

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KRE Group debuts 212-unit rental property in Bayonne, in project’s third and final phase

Designed by Minno & Wasko Architects and Planners, Bay 151’s third and final phase includes 212 luxury apartments at 225 Chosin Few Way in Bayonne — Courtesy: Kushner Real Estate Group By Joshua Burd Kushner Real Estate Group has opened the third and final piece of a luxury multifamily development in...

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Fennelly Associates signs Mercer County medical office leases

Mercer County continues to draw medical office users, with Fennelly Associates signing a trio of tenants across three different properties. On Dec. 18, the Hamilton-based independent full-service commercial real estate provider announced it negotiated: a 6,770-square-foot lease with Penn Medicine Becker ENT and Allergy at Washington Town Center in Robbinsville a 1,700-square-foot...

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Major Sayreville riverfront project approved for Aspire tax credits

At its Dec. 14 meeting, the New Jersey Economic Development Authority board approved Aspire tax credits for the Riverton mixed-use, riverfront development project in Sayreville. The long-awaited project, which includes more than 2 million square feet of new residential construction (more than 1.2 million square feet, 1,300 units – 20% of...

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Meyer Celebrates Grand Opening of Chelsea at Washington Township

Meyer, a national award-winning architecture and design firm, recently celebrated the grand opening of the Chelsea at Washington Township, a brand-new luxury assisted living and memory care community. The two-story, 76,700-square-foot community, owned by Capitol Seniors Housing and operated by Chelsea Senior Living, includes 85 residential units with one- and...

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Avison Young Celebrates Opening of Class-A Industrial Facility in Lawrence Township

A ribbon-cutting ceremony hosted by Avison Young was recently held to celebrate the opening of a 261,646-square-foot class-A warehouse/light manufacturing facility at 40 Enterprise Avenue in Lawrence Township. The property is the first new building in New Jersey developed by Alcamo Capital and aims to satisfy the current demand in...

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Procida, Titan Engineers Mark Debut of Adaptive Reuse Project in Downtown Union

Titan Union at 2003 Morris Ave. in Union Township — Courtesy: Procida Funding/Titan Engineers PC By Joshua Burd A developer has opened the doors to a mixed-use project in Union Township that has brought new apartments, offices and retail space to the site of a historic bank building downtown. Procida Funding, the...

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