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Real Estate

EDA approves loan program with TD Bank

The board had a relatively light agenda for its first meeting of 2013, following a busy 2012 that saw the agency provide $591 million in financing to 222 projects, creating some 4,600 jobs, according to initial estimates. In new business, the board approved the creation of the “TD Bank New Jersey Advantage Program,” in partnership ...

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Development backers cheer plan to overhaul incentives

A bill set to be introduced Monday would consolidate five incentive programs into two, according to a report this week in the Wall Street Journal. The Economic Redevelopment and Growth Grant would be kept and modified, while the Grow New Jersey program would be revised to integrate pieces of the Urban Transit Hub tax credit, ...

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South Jersey office market ends 2012 on high note

The fourth-quarter analysis by Wolf Commercial Real Estate showed “a significant uptick” in new leasing and expansion, the firm said in a news release. The market of about 17 million square feet recorded some 235,000 square feet of new deals and expansions, and 389,000 square feet of leasing overall, a 25-percent jump from the previous ...

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UPDATED Hunts Point says no deal reached to stay in N.Y.

“At our board meeting on Tuesday, January 8th, our board voted to reject an offer from the City of New York to modify the current lease extension terms at our location in the Bronx. A Crains.com story from Tuesday afternoon has incorrectly indicated that the co-op has reached a ‘tentative’ agreement with the city in regards ...

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N.J. office market ends 2012 flat after year of fluctuation

The total amount of occupied space in the region grew by a mere 10,345 square feet last year, the brokerage firm found in its fourth-quarter market study. That number is effectively flat “when you’re dealing with 150 million square feet of space” across the market, said Jonathan Meisel, a JLL broker and former market director ...

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Robbinsville lands coveted Amazon.com warehouse

“We understand Amazon could have chosen anywhere in New Jersey to build its new distribution center, and we are fortunate to have the infrastructure and resources to meet their needs and consummate one of the most sought-after business partnerships in recent memory,” Robbinsville Mayor Dave Fried said in a statement. “With hundreds of new jobs ...

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Rutgers adds 3M real estate chair

The other $1.5 million was provided by an anonymous donor who pledged $27 million toward Rutgers’ “Endowed Chair Challenge,” which aims to bring 18 “world-class” faculty to Rutgers as part of the university’s billion-dollar “Our Rutgers, Our Future” campaign.Once hired, the new chair’s job will be to set up an MBA concentration in real estate ...

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BGC acquires Philadelphia-based Smith Mack

The deal marks BGC’s second aggressive push into the South Jersey market, as the firm added an office in Marlton when it acquired Grubb & Ellis Co. in April, and it will gain a second Marlton office by folding Smith Mack into its NGKF subsidiary. BGC added Woodbridge-based Helios Capital Advisors in October to strengthen ...

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