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Off the table Deal keeps Hunts Point in New York for now
The deal keeps the 105-acre market at its current home until June 2021 and allows the city to retain some 3,000 jobs, according to the city’s economic development agency. It also gives the city more time to work out a long-term solution for the 47-year-old market, which has been coveted by Garden State officials while […]
Mack-Cali closes on 46.5M stake in DC residential project
According to the announcement, the 377-unit residential project, currently under construction, includes approximately 25,000 square feet of retail space and a 309-space underground parking garage. The project is expected to begin leasing in the first quarter of 2015, with construction scheduled to finish by the middle of that year. The Mack-Cali/Fisher Brothers joint venture includes […]
Goldstein Group brokers over 30,000 square feet of gym space
According to the announcement, Planet Fitness has more than 600 locations. Planet Fitness filled a 14,000-square-foot end cap unit in the K-Mart Shopping Center located on Route 35 in Hazlet. Executive Vice President Lew Finkelstein and sales associate Jesse Finkelstein handled the transaction. The Freehold lease includes 17,000-square-feet of space in the Juniper Business Plaza […]
Bankrupt Trenton hotel acquired for 6M
According to the announcement, the hotel, located at 1 W. Lafayette St. in downtown Trenton, includes 11,000 square feet of meeting space. The buyer acquired the bankrupt hotel from Lafayette Yards Community Development Corporation at a public auction. Maryland-based hotel management firm Marshall Hotels and Resorts will lead rebranding efforts for the Lafayette.More real estate […]
NAI represents NY linen company in Carlstadt warehouse lease
According to the announcement, Cathay Home, which signed a long-term lease at Gotham Industrial Park, 350 Gotham Parkway, will use the space as a warehouse and distribution facility for its linens and bedding manufacturing business, which is headquartered in New York City. NAI Hanson Vice Presidents Jeffrey W. DeMagistris and Thomas A. Vetter and Sales […]
CBRE completes 2.12M sale of distressed Rahway condo project
According to the announcement, CBRE NY Outer Boroughs’ Elli Klapper and Matt Giordano and New Jersey Private Capital Group’s Charles Berger completed the transaction. The sale consisted of a portion of the project’s 86 townhomes in Rahway’s Essex Street Redevelopment area, along the Rahway River. The community lies in a Transit Village within walking distance […]
The future of real estate? Our dynamic dozen gets a say
As we turn to 2014, we reached out to a dozen real estate insiders to get their take on the new year.
Vornado records 130M net loss on Toy R Us holdings
According to the announcement, Vornado results will include in its fourth quarter a net loss attributable to Toys 2013 third quarter. The loss significantly larger than the net loss of $73.83 million, or $0.37 per diluted share, the company recorded in Q4 2012, attributable to Toys’ 2012 third quarter. That loss included a $40 million […]
Kislak sells 286-unit apartment complex for 14.75M
According to the announcement, Kislak president and co-managing director Robert Holland and senior vice president Matt Weilheimer represented the parties in the transaction. Greentree Village Apartments is an all-brick, landscaped property with on-site parking situated in a residential neighborhood of Claymont, Del., a suburb of Philadelphia. It includes 88 one-bedroom apartments, 169 two-bedroom [...]
The stories of the year in real estate development
With the new year upon us, we had 12 of New Jersey's top commercial estate experts offer their predictions for 2014.
Prologis, Norwegian investment fund announce 1B joint venture
The San Francisco-based industrial developer, one of New Jersey’s largest owners of warehouse and distribution space, said it’s partnering with Norges Bank Investment Management, which oversees the Norwegian Government Pension Fund. The venture plans to acquire 66 logistics facilities housing nearly 13 million square feet here, though it’s unclear how that plan affects New Jersey[...]
Southport Redevelopment Area breaks ground on waster-to-energy facility
According to the announcement, the conversion facility for Marlton-based Organic Diversion is the first of several planned projects in the 145-acre Southport Redevelopment Area (SRA). Once completed, the SRA will be transformed from a long vacant, brownfield industrial site into one of the premier business parks in the region. The SRA is being redeveloped by […]
