The report, TD Bank’s Regional Multifamily Outlook, estimated 2,000 new apartment units will open along the Hudson waterfront by the end of 2015. The study also tracks about 4,000 units in the planning stages in the market. In New York, the report anticipates more than 27,000 new units will open by the end of 2015, ...
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Real Estate
Jones Lang LaSalle sells 163,090 square feet of self-storage
According to the announcement, the 51,975-square-foot facility at, 101 U.S. Route 9, in the Marmora section of Upper Township, was constructed in 2007 and contains a total of 449 storage units. The 111,115-square-foot property at 555 N. Olden Ave., in Trenton, was built in the 1920s as an industrial facility, and converted to a self-storage ...
Read More »Digital Cinema acquires two more theaters
According to the announcement, the company purchased an eight-screen multiplex in Mechanicsburg, Pa., and a seven-screen in Churchville, Md., from Flagship Cinemas.More Digiplex news >
Read More »Rebound in institutional housing sales has limited impact in N.J., report finds
RealtyTrac reported today that 14 percent of all homes in September were sold to institutional investors. That’s up from 9 percent one year ago, and represents the highest level since the real estate information company began tracking such totals in January 2011. In New Jersey, only 3 percent of homes sold in September were to ...
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Multifamily pipeline promises to maintain Mack-Cali’s strength
That was one key message from executives today in a third-quarter earnings call, which took stock of the company’s rapid move into the red-hot sector. Notably, it’s been one year since Mack-Cali acquired Roseland Property Co., a move that has given way to a flurry of residential activity and new plans for the longtime office ...
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Asbury Park gets 3.6 million federal grant to repair boardwalk
The grant comes from the Federal Emergency Management Agency and will cover 90 percent of the project cost. Pallone estimates Sandy damaged 66,000 square feet of the city’s boardwalk. After the storm hit, the city scrapped some areas of the boardwalk and temporarily repaired others until a permanent fix was made available. Monmouth County-based GCS ...
Read More »Terracon announces N.J. office
According to the announcement, the office provides environmental, facilities, geotechnical and materials services to private- and public-sector clients. The company has more than 3,000 employees providing environmental, facilities, geotechnical and materials services from more than 140 offices in 40 states.
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Christie helps break ground on 845M natural gas plant in Woodbridge
The 700-megawatt facility is expected to open by early 2016 and generate enough electricity to power 700,000 homes, company representatives said. CPV, a Silver Spring, Md.-based energy firm, is developing the plant with Toyota Tsusho Corp. and ArcLight Capital Partners, whose subsidiary will operate the facility. Executives and public officials gathered for a ceremony today ...
Read More »Survey Retail vacancy improving, but slowly
Paramus-based The Goldstein Group said the region’s retail vacancy rate dropped to 7.2 percent at midyear — the survey is through June 30 — a 0.6 percent improvement from year end 2012. It marks the lowest total since early 2009. Goldstein Group President Chuck Lanyard said the latest data show steady improvement in New Jersey ...
Read More »Monmouth Real Estate purchases 3.7M property
According to the announcement, the property is net-leased for 15 years, with 10.5 years remaining to The American Bottling Co. The lease is guaranteed by the parent company, Dr Pepper Snapple Group Inc. The building is situated on approximately 7.3 acres.
Read More »Colliers exclusive agent for 425,000-square-foot Little Falls office building
According to the announcement, ownership has stabilized the asset through recapitalizing the building, and is furthering its long-term commitment to this asset as it finalizes plans for building renovations. Colliers said plans are being finalized for a multimillion-dollar capital improvement program, including modernizing the lobby and common areas, and constructing a conference room and fitness ...
Read More »DLA Piper moves out to Short Hills
According to the announcement, the firm moved into the class A office building at 51 JFK Parkway on Oct. 21. DLA Piper will occupy more than 21,000 square feet of office space on the first floor, and the lease also provides options that will allow the firm to expand occupancy within the building over time. ...
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