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Real Estate

Developers eager to see next steps for COAH

“This win … might need some additional work,” said McGuinness, CEO of the development group NAIOP’s New Jersey chapter. The case centered largely on COAH guidelines that say a municipality accrues its affordable housing obligation as a percentage of the residential building and job growth that occurs within its borders. Under that so-called growth share ...

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Construction begins on new upscale rental community in Rahway

The project will transform a former industrial site into a transit-oriented development in walking distance to shopping, restaurants and the arts.On 1.6 acres along Campbell Street, Metro Rahway will be a four-story building with a mix of one- and two-bedroom residences featuring 9-foot ceilings and ceramic-tiled kitchens.“People are looking for the type of community where ...

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Cassidy Turley negotiates 43,500-square-foot Princeton lease

According to the announcement, Hill Wallack will relocate its headquarters to the top two floors of the 100,500-square-foot two-building, Class A development at 19 Roszel Road in Princeton. Milton H. Charbonneau, senior vice president and principal at Cassidy Turley, represented the development team, led by Andy Gottesman of Gottesman Real Estate Partners and Michael Seeve ...

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Trinity Place Holdings names new CEO

According to the announcement, Messinger was most recently executive vice president and director of investment management at Forest City Ratner Companies, a wholly owned subsidiary of Forest City Enterprises, where he served for more than 18 years. Third Avenue Real Estate Value Fund completed its strategic investment in Trinity through a direct purchase of 3,369,444 ...

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Transwestern hires VP

According to the announcement, Polise will support the firm’s acquisition teams in the architectural, engineering and construction materials review of projects during the due diligence period, as well as assist leasing personnel with the review and negotiation of construction costs on behalf of clients. Polise joins Transwestern from Avison Young, where he served as director ...

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Prudential forms $369M joint venture

According to the announcement, Digital Realty seeded the joint venture, which was formed in late September, with nine data centers totaling 1.06 million square feet and valued at approximately $366.4 million, plus closing costs. The properties are expected to generate cash net operating income of approximately $24.5 million in 2013, representing a 6.7 percent cap ...

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Rowan’s new engineering building critical to N.J. economic growth, its president says

That increased capacity is critical for Rowan, which has been inundated with applicants eager to take part in its engineering program, said the university’s president, Ali Houshmand. “If you look at the demand for our engineering program, this past year, for every undergraduate position in engineering, we had 10 qualified applicants — New Jersey residents ...

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