Goldman steps down as NJPAC real estate chief after securing funds for Newark project
Goldman will become a part-time instructor at Rutgers University, NJPAC said in a news release. He will be succeeded by the arts center’s current president and CEO, John Schreiber, who replaced Goldman in his original post in 2011. The news comes three days after the state Economic Development Authority approved a $33 million tax credit […]
New VP for investment sales at The Goldstein Group
According to the announcement, Lowe has more than 20 years of acquisition, deposition and leasing experience in nearly all commercial real estate sectors. His prior positions included being a court appointed rent receiver and asset manager for numerous financial institutions. Previously, Lowe owned and operated Lowe Commercial Realty Group which focused on large scale capital […]
10 years, rent free City landlords say E013 offers a way
It may sound too good to be true, but landlords such as C&K Properties beg to differ. With New Jersey’s newly revamped business incentives, the owners of 2 Gateway Center in Newark say it’s entirely possible — even probable — for a tenant that meets the right criteria. “There’s lot of boxes you have to […]
EDA approves 33 million tax credit for downtown Newark mixed-use project
Known as Two Center Street, the Dranoff Properties project is part of the One Theatre Square development. Plans call for a LEED Silver designated 22-story brick and glass tower, which will feature 244 apartments and just under 15,000 square feet of retail space. It will be able to accommodate up to five tenants. The project, […]
Seagis Property acquires 67,000-square-foot industrial building
According to the announcement, the property at 449 Blair Road is a fully leased multi-tenant building. The company’s website states it holds 2.7 million square feet of space in central and northern New Jersey.More real estate news >
Kimco announces 35.6M, three-property Clark acquisition
According to the announcement, the fully occupied portfolio includes two long-term ground leases to national grocers: an 85,000-square-foot, high-volume-producing ShopRite, and a newer 53,000-square-foot A&P Fresh Market. Other national tenants include Rite Aid and Bally Total Fitness. This three-property acquisition lies within 20 miles of 17 additional Kimco properties.Connect with NJBIZ: Fa[...]
WCRE announces FOX Brothers sale of 11,400-square-foot Vorhees office building
According to the announcement, the purchasing party intends to reposition the office bulding as a high-end specialty medical office facility. The building was formerly occupied by Prudential Fox & Roach, recently rebranded as Berkshire Hathaway.Connect with NJBIZ: Facebook | Twitter
CBRE sells Dollar General in Philadelphia for 2M
According to the announcement, Dollar General occupies the 11,685-sq.-ft. building under a 10-year net lease, with two five-year option periods. Elli Klapper of the company’s New York private capital group and Charles Berger of its N.J. private capital group completed the $2.05-million transaction on behalf of the seller. The building, which was constructed in 1920 […]
Mack-Cali details plans for new Port Imperial hotels
Construction is slated to begin next spring on two hotels that Mack-Cali Realty Corp. is planning for its sprawling, waterfront Port Imperial community in Hudson County.
Hill International gets 6.6M extension on 7.8B Saudi development
According to the announcement, the one-year contract extension, awarded by the Public Pension Agency of the Kingdom of Saudi Arabia, has an estimated value to Hill of approximately $6.6 million. The Financial District site includes about 17.2 million square feet and the $7.8 billion development is expected to have floor space of more than 32.3 […]
LCOR, Pinnacle break ground on 100M Montclair redevelopment
Developers broke ground today on a residential and commercial project in downtown Montclair, marking the first phase of a 4-acre redevelopment plan on Bloomfield Avenue.
With a little help from Jersey, One World Trade Center declared tallest in U.S.
At 1,776 feet, New York's One World Trade Center is indeed the tallest building in the country, the Council on Tall Buildings and Urban Habitat announced today.