The Bergen County Performing Arts Center is just $5 million shy of its goal to fund major renovations and restorations at the historic venue.

The property is the first under the Red Bank firm's recently launched joint venture that aims to add multi-tenant properties in the sector totaling more than $1 billion in value.

"The Jewel Box is a state-of-the-art entrance to the Gateway Center, one of our city’s signature complexes,” Newark Mayor Ras Baraka said during the celebration for the space, attended by other elected officials and civic leaders from the city. “Adjoined with The Junction that opens later this year, it will showcase our excellence, hospitality, and diverse array of food to Newark residents, workforce, and visitors."

Will Forcello has been with the company for 13 years, most recently serving as sales management leader for the firm's New Jersey business.

The partners will bring the new facility to the city's Broadway/Main Street redevelopment zone.

“The pandemic’s effect on the real estate market allowed our law firm clients to act sooner than they might have when driven solely by an expiring lease," Corporate Managing Director Slava Vaynberg said. "The advantage of being proactive has led to broader options and unlocked hidden opportunities given the dynamic changes in most landlord portfolios."

Located at the former Deepwater property next to the Delaware Memorial Bridge at Interstate 295, Garden State Logistics Park will be comprised of two buildings — measuring 1.2 million square feet and 512,442 square feet, respectively.

The recently renovated property has a rebuilt lobby; updated flooring, roofing, lighting and bathrooms; and new common amenities, like a café, kitchen and fitness center.

The sales add up to 22 residential units and more than 17,000 square feet of commercial space.

For its latest acquisition, the Red Bank company added Voorhees Eagle Plaza, which features a 66,500-square-foot Acme store.

More than 50 startups gave virtual presentations during the event in the hopes of attracting potential investors and partners, with winners announced across Devices & Diagnostics, Digital Medicine/Health IT/AI/Medtech, Research & Development, Start-Up Pitch Presentations and Therapeutics.

The $165 million project broke ground in July 2020. It created five new operating rooms — one a hybrid OR — and features the state's only intraoperative MRI.