NJ CRE Firms Make Executive Leadership Moves

A trio of commercial real estate firms working in New Jersey announced changes to their teams, with Marcus & Millichap bringing on new capitals markets leadership, Woodmont Properties expanding its presence in the South and Lee & Associates New Jersey tagging a team from Newmark. Marcus & Millichap Marcus & Millichap...

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Top Contractors, Projects Honored at ABC-NJ Awards Gala

Some of the state’s top construction firms were honored during the Associated Builders and Contractors New Jersey Chapter (ABC-NJ) Excellence in Construction Awards Gala Nov. 30 at the Berkeley Oceanfront Hotel in Asbury Park. The annual event honors exceptional projects from top merit construction firms across the great Garden State...

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Signature Acquisitions Reports Healthy Office Leasing Activity in Q3

Signature Acquisitions negotiated 23,948 square feet of new, expanded and renewed office leases across its New Jersey portfolio during the third quarter, according to a Wednesday announcement from the Cranford-based firm. This activity continues a strong year of office leasing activity for Signature, which has seen roughly 100,000 square...

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BNE Debuts Luxury Rentals in Chatham

The Ivy at 2 River Road in Chatham — All photos courtesy: BNE Real Estate Group By Joshua Burd BNE Real Estate Group has opened the doors to its new upscale multifamily property in Chatham — one that’s a far cry from the boutique project it envisioned just a few years...

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CBRE Arranges Trade of 2 Development Sites in Hudson County for $14M for Airn Management

A $5.5 million sale of an unentitled multifamily development site located at 8709 River Road in North Bergen has been completed, according to a Thursday announcement from CBRE, which brokered the deal for Airn Management. The transaction comes on the heels of an $8.5 million deal in Hoboken, also...

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StorageMart Opens Doors to New Toms River Facility

International self storage company StorageMart on Monday announced the opening of its state-of-the-art facility in Toms River. Situated off Route 37 on Corporate Circle, this new location offers 956 units and over 82,800 net square feet of climate-controlled self-storage in assorted sizes. With innovative security features including 24/7 video surveillance and...

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3 Tenants Expand and Extend at Atkins’ Medical Office Building

Atkins Cos. has secured lease expansions with three tenants at its Washington Medical Arts Building. On Nov. 29, the West Orange-based multigenerational commercial real estate development, investment and property management firm announced agreements with Rowan Medicine, Weisman Children’s and Jefferson Health at the approximately 70,000-square-foot medical office building located at...

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JLL: Investor Seeking Buyer for Repositioned 378,000 sq. ft. Power Center in Morris County

10-50 International Drive South in Flanders — Courtesy: JLL By Joshua Burd A major retail center in Morris County is on the market for sale after last changing hands in 2021 and a series of upgrades aimed at repositioning the property, brokers with JLL said. Located in the Flanders section of Mount...

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NJBIZ Conversations: David Greek

In August, Greek Development rebranded itself into Greek Real Estate Partners to reflect its growth and the diversity of its services. Greek Development became one of three sub-brands, along with Greek Design/Build and Greek Management. “Our firm has grown tremendously in recent years and the launch of our rebrand is...

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Amidst Challenging Times, Commercial Property Experts Discover Reasons for Gratitude

According to CoStar, commercial property professionals are facing several challenges in their businesses, including higher interest rates, lower transaction volume, and a tense geopolitical environment with conflicts in Ukraine and the Middle East. Despite these challenges, many in the industry are grateful for their family and careers this Thanksgiving...

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Middlesex County Industrial Sites Sell for $15M

NAI DiLeo-Bram & Co. has secured two separate industrial deals in the central part of New Jersey, in Middlesex County, totaling a cumulative $15.45 million. The Woodbridge-based commercial real estate services firm announced the sale of the two warehouse buildings Nov. 21. In East Brunswick, the more than 32,000-square-foot 375 Old...

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Chelsea Senior Living Hosts Grand Opening of Fair Lawn Assisted Living Community

Chelsea Senior Living, a leader in senior care, lifestyle and housing, recently held a ribbon-cutting ceremony to celebrate the opening of the Chelsea at Fair Lawn Assisted Living and Memory Care community. Located in Fair Lawn, this is the borough’s first residence for seniors in need of assisted living...

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JLL Taps Ex-Savills Studley Chief Colacino as President for Tristate Brokerage

Michael Colacino By Joshua Burd JLL has welcomed veteran commercial real estate executive Michael Colacino as its president for tristate brokerage. Colacino, the former longtime president of what was Savills Studley, will be based in Manhattan but will lead JLL’s corporate brokerage and consulting services in the greater metropolitan area. He will...

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NJEDA approves program to expand access to capital for emerging developers

A new $20 million pilot program to support rising real estate developers was approved last week by the New Jersey Economic Development Authority board. The Emerging Developer Fund will help developers gain access to capital and build additional capacity to expand their existing portfolio. “Rising developers must be part of...

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LMC survey: Retailers show measured optimism, expect modest growth this holiday season

By Joshua Burd Retailers are cautiously optimistic about this year’s holiday shopping season, with many expecting modest growth and that sales would peak before Thanksgiving and Black Friday. Those are among the findings of Levin Management Corp.’s 12th annual Pre-Holiday Retail Sentiment Survey, which the North Plainfield-based firm released in early...

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Strength and stability: Panelists say long-term leadership in business, government is central to New Brunswick’s highly touted revival

The New Brunswick skyline By Joshua Burd For every advantage that New Brunswick has, its strength may well be rooted in its size. At only about five square miles, it’s far from New Jersey’s largest city. But developers say that scale has provided a manageable starting point for the municipality’s growth in...

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Undeveloped 2.3-acre plot in Howell trades for $875K; ready for industrial, warehousing or distribution

A 2.3-acre tract in Howell, in the Special Economic Development Zone has been sold for $875,000, in a deal brokered by Sheldon Gross Realty Assistant Vice President Matt Leonelli and Executive Vice President Jonathan Glick. Located at 300 Okerson Road, the property currently is entirely undeveloped. “This property is particularly appealing...

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Taurus snags 339K-square-foot South Jersey shallow-bay portfolio

Taurus Investment Holdings LLC has significantly expanded its U.S. industrial portfolio, which now boasts more than 18 million square feet, with the global private equity firm’s latest acquisition in New Jersey. Situated in South Jersey, the strategically positioned shallow-bay industrial portfolio comprises five Class B buildings totaling 339,136 square feet,...

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Korinis, outgoing CREW NJ president, reflects on chapter’s push to expand philanthropy, member benefits

Krista Korinis, president of Global Installation Resources LLC in Clifton, is set to step down as president of CREW NJ, or Commercial Real Estate Women Inc.’s New Jersey chapter, after a one-year term that has focused on philanthropy, creating new value for members and expanding networking opportunities. —Photo by...

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EDA board approves new rules for Aspire to increase use on affordable housing

In an effort to spur development and increase affordable housing, the board of the New Jersey Economic Development Authority on Friday approved rule changes that will increase per-project caps, expand eligibility for transformative projects and increase affordability controls for residential units. The Aspire Program, a gap financing tool to support...

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The Blau & Berg Company inks 13,242-square-foot industrial lease in East Hanover

Short Hills-based The Blau & Berg Co. on Wednesday said it helped negotiate a 13,242-square-foot industrial lease on DeForest Avenue in East Hanover. Troy Schaafsma, Senior Associate, and Alessandro (Alex) Conte, executive vice president with The Blau & Berg Company, acted as both the listing and procuring brokers. The space is...

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Buyer wanted for 636-unit garden apartment complex outside Princeton, JLL says

The Mews at Princeton Junction at 900 Wessex Place in Princeton Junction — Courtesy: JLL By Joshua Burd A sprawling garden apartment complex outside Princeton is on the market for sale with the potential to draw offers in the $170 million range. According to JLL, which is marketing the property, The Mews...

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Larken Associates begins construction on newest multifamily community in Pohatcong

Construction is underway at Monte View at Pohatcong, a 120-unit multifamily community located on 1001 Monte View Drive in Pohatcong. Developer Larken Associates on Tuesday said the community is targeted to welcome its first residents beginning in Fall 2024. The start of construction at Monte View at Pohatcong highlights the...

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Endurance, JLL ink leases at new two-building, 289,000 sq. ft. industrial park in Burlington

The Rancocas 5 Industrial Park at 2605 and 2609 Rancocas Road in Burlington Township — Courtesy: Endurance Real Estate Group LLC By Joshua Burd Endurance Real Estate Group LLC has completed two leases that have helped fill nearly 300,000 square feet of newly delivered warehouse space in Burlington Township. The firm, which...

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New Vernon Equities acquires 17-acre site from Novartis

New Vernon Equities is building up its Arena complex in East Hanover, adding a 17-acre parcel newly acquired from Novartis. The Morristown-based commercial real estate developer and investor announced the acquisition of 135 Route 10 Nov. 2. According to the firm, the 150,000-square-foot office building will be redeveloped for science...

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Levin Management: Retailers anticipate modest-growth holiday season 

Retailers in Levin Management Corp.’s leased and managed shopping center portfolio are optimistic about 2023 holiday sales performance, though not necessarily expecting a repeat of the seasonal velocity recorded over the past three years. The North Plainfield-based commercial real estate services firm on Monday released its 12th annual Pre-Holiday...

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Russo unveils highly touted 296-unit rental property near Newark’s Broad Street Station

Vermella Broad Street at 355 Broad St. in Newark — Rendering by Minno & Wasko Architects and Planners/Courtesy: Russo Development By Joshua Burd Russo Development’s new upscale apartment property in Newark is set to open its doors, in a key milestone in the firm’s high-profile entrance to the state’s largest city. The...

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Matrix New World Engineering welcomes new VP of environmental services

Matrix New World Engineering recently announced that Sharon Stecker joined the firm as vice president of national environmental services. Stecker will be based out of the firm’s Florham Park office supporting all Matrix offices. Stecker brings over 25 years of experience working within diverse environmental regulatory and political environments providing...

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The next chapter: Inside 601W’s plan to reposition Jersey City’s iconic Harborside office complex

Manhattan-based 601W Cos. is advancing its plans to reposition Harborside buildings 1, 2 and 3 in Jersey City, a nearly 2 million-square-foot office complex along the Hudson River, after acquiring the property from Veris Residential Inc. for $420 million. — Courtesy: Cushman & Wakefield By Joshua Burd It wasn’t long before...

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Long Branch’s Ocean Gate luxury apartments available for lease (PHOTOS)

Ocean Gate, a striking collection of brand-new luxury apartments, has opened in Long Branch, delivering an exceptional resort lifestyle enriched with state-of-the-art amenities, inspired living spaces and easy beach access. Located at 30 Ocean Blvd. in a coastal setting just moments from numerous eateries, quaint shops, parks and the Jersey...

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JLL: Urban Edge sells 1.2 million sq. ft. East Hanover industrial portfolio for $218 million

901, 903, 904, 905, 906 and 601 Murray Road and 151 Ridgedale Ave. in East Hanover — Courtesy: JLL By Joshua Burd Urban Edge Properties has sold a seven-building, 1.22 million-square-foot light industrial portfolio in East Hanover for nearly $218 million, brokers with JLL announced Thursday. The investment sales team, which touted...

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Cushman & Wakefield arranges $8.9M in financing for South Plainfield industrial site

Developers Ridgecut Road and Marcus Partners were the recipients of $8.945 million in financing for 456 Hollywood Ave. in South Plainfield, according to a Wednesday announcement from Cushman & Wakefield, which served as the exclusive adviser. The site spans 3.92 acres and features an 11,500-square-foot warehouse and abundant paved and lit...

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Birch Group, Jefferies ink 60,000 sq. ft. renewal at 101 Hudson in Jersey City, CBRE says

101 Hudson St. in Jersey City — Courtesy: CBRE By Joshua Burd Financial services firm Jefferies has renewed its 60,000-square-foot lease at a well-known Jersey City office tower, in the largest of several newly announced deals by CBRE. In a news release, the brokerage team said it represented The Birch Group in...

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Amenities galore: Giralda Farms in Madison now features 9-hole disc golf, walking paths, fitness classes, more

Woodbridge-based Bergman Real Estate Group on Tuesday announced the rollout of a suite of best-in-class wellness-focused services at 7 Giralda Farms, a three-story, Class A office property located in Madison. Part of the Giralda Farms Corporate Campus, a gated 310-acre, 1.15 million-square-foot office park set on the former Geraldine Rockefeller...

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Affinius Capital lends $102 million for 700,000 sq. ft. Burlington industrial project

By Joshua Burd Affinius Capital LLC has closed a $102 million construction loan for a 700,000-square-foot industrial project at the western edge of Burlington County, just outside Philadelphia. The lender, the joint venture of USAA Real Estate and Square Mile Capital Management, said Tuesday that the deal will support phase two...

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