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Real Estate

Port Authority OKs 100M in road upgrades for N.J. terminals

The agency’s board of commissioners authorized the program at its latest meeting in New York, sending new funds to an effort to modernize roads built decades ago. In a news release, the authority said the $105 million program includes the design, construction and realignment of portions of the five major access roads to the shipping ...

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PHH, state reach 6.25M consumer fraud settlement

“This settlement provides relief to a large number of individual consumers who were subjected to unacceptable mortgage servicing practices,” Hoffman said in a release. “It also ensures appropriate reforms in PHH’s mortgage-servicing operations.” The settlement requires no admission of wrongdoing or liability. It consists of $3.62 million in restitution for more than 2,000 borrowers across ...

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Keystone Property Group inks Moorestown deal with Destination Maternity

The developer announced the 74,000-square-foot lease on Wednesday, three months after the state offered a $40 million tax credit to lure the maternity clothing maker. The deal means the three-building Moorestown campus is now 85 percent leased as Keystone continues a series of interior and exterior improvements.The Bala Cynwyd, Pa.-based real estate firm acquired the ...

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Cushman Wakefield brokers 110,000-square-foot Mainetti relocation

According to the announcement, Mainetti moved to the new space from Secaucus to expand operations. The building includes 8,000 square feet of office space and incorporates a new sorting area for recycling hangers.Cushman & Wakefield’s Andrew Stypa and Daniel Badenhausen, based in the commercial real estate services firm’s Edison office, brokered the long-term transaction. Federal ...

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Amazon story puts spotlight on N.J. property

That development is in Robbinsville, where the e-tail giant is building one its newest fulfillment centers. During an interview with CEO Jeff Bezos, the CBS news program rolled footage of the planned 1 million-square-foot warehouse, where crews could be seen raising materials and working on the frame of the building.The site will be one of ...

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Business BECKONS

That’s because he is the head of Jones Lang LaSalle’s business and economic incentives group in the Northeast, a post he took only weeks after New Jersey overhauled its incentives to make them among the most competitive in the country. “There’s a great deal of interest … from both within and outside of the state,” ...

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The state should go all in with Internet gambling

Let’s just discuss the idea of online gambling and come to the only realistic conclusion: Online gambling is a good thing. And there should be more of it. This isn’t a statement on morality or even gambling itself — that argument was settled by a state referendum in 1976. This is just business. And for ...

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