Real Estate

Hampshire opens new office in Metropark

The Hampshire Cos. officially opened Centra, its new Class A office property, at 186 Wood Ave. South, in Woodbridge, last week. The Morristown-based real estate investment firm acquired the former Siemens property in 2009, and began construction in February 2010, stripping the building down to the steel, then rebuilding and expanding it by about 10,000 ...

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Moving forward on Fort Monmouth redevelopment

The Fort Monmouth Economic Revitalization Authority said it is moving forward on plans to redevelop the 1,126-acre U.S. Army base that is scheduled to close in September, after assessments and recommendations were made recently by a consulting firm. The three-part overview addressed necessary planning, engineering, architectural and environmental consulting services; environmental status and a business ...

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Triple Five acquires ESPN parcel for American Dream project

Triple Five, the developer of American Dream, formerly Xanadu, said it has acquired a parcel at the Meadowlands Sports complex; currently the site of three nonoperational radio towers, the land will be the future location of the indoor amusement and water parks that the Canadian conglomerate has proposed for its project. The parcel, which was ...

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N.J. lacks enough affordable rental housing, study finds

New Jersey has a severe shortage of affordable rental housing, according to Out of Reach 2011, a national study released Monday that found an estimated 61 percent of New Jerseyans can’t afford to rent a two-bedroom unit. A household needs to earn $24.54 an hour to cover rent and utilities for the average two-bedroom unit ...

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Boston Properties OKs sale of major Princeton portfolio

The portfolio — which encompasses 16 office properties and a day-care center totaling more than 2 million square feet — accounts for most of the office assets on the 560-acre mixed-use Carnegie Center campus, according to the Boston-based real estate investment trust; three other office buildings totaling 350,000 square feet are owned by others, including ...

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