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Real Estate

Marcus Millichap arranges 1.7M sale of Millville CVS

According to the announcement, the property is a 16,893-square-foot net-leased property sold for $1.75 million. Michael Lombardi, director of the Net Leased Properties Group, and Robin Rose David, an associate, both in Marcus & Millichap’s New Jersey office, had the exclusive listing to market the property on behalf of the seller. Lombardi and David also ...

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Terreno Realty announces Carlstadt acquisitions totaling 9.9M

According to the announcement, the properties consist of two industrial buildings containing approximately 90,000 square feet on 3.2 acres in the central Meadowlands submarket. The buildings are 465 Meadow Lane, a 22,000-square-foot property fully leased to one tenant, and 341 Michele Place, a 68,000-square-foot building that’s 95.6 percent leased to two tenants. More Terreno news ...

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First Niagara provides 15M financing for Bayonne development

According to the announcement, John R. Cali, formerly of Mack-Cali Real Estate Corp., will use the funds for the construction of The Park at Bayonne, a 60-unit multifamily housing complex. In addition to 60 studio, one-, two-, and three-bedroom units, the building will feature a rooftop patio and garden, a private penthouse clubhouse, and a ...

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IPic announces new movie theatre coming to Fort Lee

According to the announcement, the eight-screen, 533-seat luxury movie theater in Tucker Development Corp.’s upcoming Hudson Lights mixed-use site. Completion of the theater is expected in summer 2015. The iPic Theaters at Hudson Lights will enable guests to view movies with reclining chairs, pillows and blankets. At the push of a button, guests can summon ...

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Rowan cuts ribbon on 35 million mixed-use Enterprise Center

Part of the ongoing $300 million Rowan Boulevard Project, the five-floor building features classrooms, a 1,194-space parking garage and 9,600 square feet of ground-floor retail space. It is situated between a recently opened Marriott Courtyard hotel and the school’s Barnes & Noble Collegiate Superstore, which opened in 2011. According to Gloucester County freeholder Heather Simmons, ...

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Survey finds improvements in N.J., housing climate

According to NJAR data through September, produced in conjunction with 10K Research and Marketing, the number of homes for sale in all markets is down 15.5 percent from last September, but closed sales in all markets throughout New Jersey have risen 21.8 percent. For single-family homes statewide, the median sale price is up about 7 ...

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Boraie selects Tishman for 80M redevelopment of Somerset Mews

According to the announcement, the redevelopment site is adjacent to New Brunswick’s train station and the city’s hospital corridor. The project will transform the site into a 400,000-square-foot residential and retail tower with 238 units, 8,000 square feet of retail space, and a four-story parking deck. Somerset Mews will also have a fitness center, outdoor ...

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Amtrak announces record annual ridership despite Sandy devastation

The operator carried 31.6 million passengers in the year ending in September, Amtrak said in an announcement. More than one-third of those passengers came from its Northeast Corridor services, totaling 11.4 million and marking the second strongest year ever for the region. With its 10th ridership record in 11 years, Amtrak’s usage is growing despite ...

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Grocers shopping for retail space in N.J.

“We’re seeing a competitive atmosphere as the supermarket companies are looking to find locations,” Lanyard said. “We’re in negotiations with several grocers as they’re looking to expand their footprints from smaller locations or find new locations.” Store closing in recent years have created vacancies that open the door for other supermarkets, he said, enabling Fairway, ...

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