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Real Estate

Report N.J. home sales up 32 percent in October

The organization reported favorably on October, calling it a “strong month” for the market with more nearly 8,200 closed sales. Closed sales also are up year-to-date, rising about 20 percent to nearly 80,000 in 2013.“We’re continuing to see a lower number of properties for sale … so it’s not surprising to see more closed sales ...

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Building the relationship For the bankers and brokers, all deals are a matter of trust

Investors Bank’s chief lending officer, Richard Spengler, has worked for years with Wilcox, and when the two talk about the behind-the-scenes work of getting capital flowing to commercial real estate transactions around New Jersey, they talk about the critical importance of relationships like theirs, which are built on trust. Spengler said Wilcox “has been doing ...

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Mack-Cali buys Rahway complex in latest multifamily move

The real estate investment trust, based in Edison, said it purchased the two-building Park Square complex for about $46.5 million from Woodbridge-based Landmark Cos. The site is minutes from the Rahway train station and also includes a parking garage, 6,000 square of retail space and several other amenities.The property, which is 94 percent leased, will ...

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Jones Lang LaSalle exclusive leasing agent for 151,825-square-foot warehouse

According to the announcement, JLL will provide a full range of marketing and transaction services at the 151,825-square foot warehouse and light manufacturing facility. The JLL agency team will be led by Howard Weinberg, executive vice president, and includes Michael Palmeri, associate. The team will work closely with Ira Bloom, director of commercial real estate, ...

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Rutgers dean Suburban ‘corporate palaces’ no longer viable

They either plan to leave or have already vacated each of their giant suburban New Jersey headquarters, or as Rutgers University Bloustein School of Planning and Public Policy dean James Hughes puts it, “corporate palaces.” Speaking Wednesday on a panel at the New Jersey State League of Municipalities Conference in Atlantic City, Hughes stressed the ...

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