The project will bring 337 units to the city's up-and-coming West Side neighborhood.

Take a look inside the new community, which offers 234 rental residences just steps from the train station.

The deal for the property, built in 1940 and used as a propulsion laboratory for the U.S. Navy in World War II, closed in just 35 days.

Plans from The Maxal Group and partner Envirofinance Group for the 19-acre site will see the development of 1,200 apartments across three, 25-story towers in addition to 20,000 square feet of commercial space.

The $54 million package comes after the firm announced last week that a Capital Markets team represented the seller of the transit-orientated property.

The purchasers recognized the location and uniquely upscale offerings of the property paired well with their similarly upscale merchandise.

Eric Stone brings more than 30 years of experience with him to the firm's Morristown office.

The partners will eliminate 900,000 square feet of vacant office space for the project, after acquiring 62 acres of Novartis Corp.'s 202-acre U.S. headquarters.

Real estate services firm Cushman & Wakefield represented the seller and procured the buyer in the transaction.

Cushman & Wakefield served as exclusive advisor to Advance Realty Investors and Greek Development in arranging permanent financing for two buildings totaling more than 1.32 million square feet.

“By taking these steps to exclude farmland from being classified as a redevelopment area or rehabilitation area, we are ensuring the protection of these vital spaces and preventing further warehouse sprawl, which will help keep New Jersey green for decades to come,” said outgoing Senate President Stephen Sweeney, a sponsor of the legislation.

The Michaels Organization and the Atlantic City Housing Authority broke ground on a $15.4 million endeavor to bring living and resiliency updates to Buzby Homes.