Supported by many in the business and development communities, the new law now extends the looming May 7 deadline by two years. Per a 2009 law, if no extension was granted the DEP would’ve assumed direct oversight of any site cleanup failing to meet the deadline. The bill was passed unanimously in both houses on ...
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Real Estate
Consultants Redevelopment at Roche site in Clifton, Nutley could produce up to 18,000 jobs
But a new report shows the move might not be such a bad thing: Consultants hired by Nutley and Clifton said redevelopment options for the 119-acre site, which sits on the border between the towns, could produce up to 18,000 jobs and as much as $20 million in real estate taxes. Clifton and Nutley issued ...
Read More »NGKF helps Horizon, Cenlar add tens of thousands of square feet in Ewing
According to the announcement, Horizon NJ Health more than doubled its presence with an increase of 23,000 square feet, filling an entire building of 42,000 square feet. Cenlar FSB is taking an additional 15,000 square feet of leased space in the adjoining building at the same property. The recent expansion brings Cenlar’s footprint at 370 ...
Read More »Retro Fitness and its frozen yogurt franchise get new VP
Lauletti, named vice president of real estate and development, is a 25 year real estate and business veteran. He was most recently the director of development for Popeye’s Louisiana Kitchen, where he led development efforts in the Eastern United States. He previously worked for the brands Sbarro, Boston Market, SuperValu and Friendly’s. The company said ...
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AvalonBay leader Ron Ladell has been leading the way in N.J. for more than a decade
But that didn’t stop AvalonBay Communities Inc. from breaking ground on its latest project in the state, a 180-unit luxury apartment complex in West Long Branch. For the Arlington, Va.-based developer, it was not the time to push off construction. “We were confident that, at some point, the cycle was going to change,” said Ron ...
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Commercial and industrial builders turn to multifamily to diversify holdings and improve profits
As it approached its fifth decade, the Carlstadt-based company turned to multifamily — acquiring a 9-acre industrial parcel in nearby Lyndhurst in 2008 that it would take through the painstaking, sometimes-complex process of redevelopment. That site today is home to 150 luxury apartments and a swanky clubhouse, plus another 150 units that will open in ...
Read More »Sanzari plans 342,000-square-foot Teaneck office building
Sanzari is already approved for an eight-story building, but a representative of the company is asking the town council for additional space. The added space could result in a $1.7 million tax boom for the town, according to The Record. According to the report, Teaneck officials are encouraging a revenue boost through development instead of ...
Read More »South Jersey office market rides strong leasing activity into 2014
Those are the findings of a year-end report by Wolf Commercial Real Estate, a Marlton-based brokerage. The firm, which tracks about 17.5 million square feet of office space in Burlington, Camden and Gloucester counties, charted about 1.6 million square feet of lease volume last year, up about 15 percent or 206,000 square feet from 2012.The ...
Read More »NAI Hanson announces 5-year retail lease in Lodi
According to the announcement, Jersey Smokes operates The Cigar Shack, a retailer of fine cigars, tobacco, humidors and other accessories. NAI Hanson Vice President Anthony Cassano represented both the tenant and the landlord in the transaction involving 20 Essex St.
Read More »Brick City Development Corp. CEO to lead Rutgers entrepreneurship center
Richardson will now lead the Center for Entrepreneurship and Economic Development at Rutgers Business School, also based in Newark. He starts his new role March 3. “It’s four blocks away,” said Richardson, who moved to Newark from Chicago when taking reins at BCDC. “I’m not leaving the city or leaving the work. I’m taking a ...
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These 30 N.J. towns have the highest property tax burdens in the state
Gov. Chris Christie said in his annual State of the State speech on Tuesday, “I will have more to say about New Jersey’s taxes when I present my budget to you next month. That is for a reason.” Well, maybe he should talk to Dr. Ernest Reock Jr., who has plenty to say. As a ...
Read More »Vornado declares quarterly dividend
According to the announcement, the regular quarterly dividend of 73 cents per share will be payable on February 18, 2014 to common shareholders of record on January 27, 2014.PREVIOUSLY: Vornado records $130M net loss on Toy R Us holdings[Release] Like NJBIZ on Facebook: facebook.com/NJBIZStay informed with free NJBIZ email newsletters >
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