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Northern New Jersey
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05/25/2018
Robert Towers Apts Sell for $22M
The multifamily market in East Orange, NJ, is showing some strength, with the mid-rise Robert Towers apartment building selling this month for $22 million, or roughly $107,000 a unit. Proud Living Companies in Montclair, NJ, purchased the 114,070-square...

05/22/2018
NJ's First Luxury Mall Nears End of Revamp
The Shops at Riverside, one of North Jersey’s many malls, has reached the third and final phase of its extensive update, a redesign that includes the creation of a dining and entertainment district and a central entrance to the Hackensack, NJ, shopping...

05/21/2018
Northern New Jersey Multifamily Investment On Pace to Decline for Second Consecutive Year
Multifamily trading volume is on pace to decline for the second consecutive year in Northern New Jersey. Sales volume across the market peaked in 2016, at more than $1.1 billion, before falling to about $800 million in 2017. Last year’s total still...

05/21/2018
Kearny Point Redevelopment Adds Brooklyn Grange to Roster
The farm-to-table movement has been all the rage in restaurant circles in recent years. Now, real estate firms are bringing farms and gardens to urban redevelopments, with the latest being Brooklyn Grange's debut at Kearny Point, a former shipyard being...

05/21/2018
Tulfra Real Estate Plans CubeSmart Facility in Passaic County
Tulfra Real Estate is developing a 925-unit CubeSmart self-storage facility on the border of Nutley and Clifton in New Jersey, the firm that helped arrange the financing said Monday. Tulfra, based in Rochelle Park, NJ, will use proceeds from the...

05/18/2018
Quest Diagnostics Set on Regional Lab, Parking Deck at ON3
The redevelopment of the former Hoffmann-La Roche Inc. campus has taken another step forward, with Quest Diagnostics Inc. winning local approval to build a 225,000-square-foot regional lab and office facility and a parking garage on the property. Quest...

05/17/2018
NJ Towns Must Adapt to New Development Trends, Panel Says
Pictured, left to right: Cecilia Lassiter, attorney with Sills Cummins & Gross; Tim Lizura, president and COO of the New Jersey Economic Development Authority; Eugene Diaz, founder and principal partner of Prism Capital Partners; and Jose Cruz, senior...

05/16/2018
Food Uses Touted As Catalyst for Development
Maureen McAvey (pictured, left) talks about the benefits of incorporating food uses like community gardens in mixed-use developments during an Urban Land Institute Northern New Jersey forum Wednesday night, and Sam Schatz, AeroFarms managing director...

05/15/2018
NY Firm Buys Bayville Shopping Center for $14.4M
A Bayville, NJ, shopping center has been sold for $14.4 million, or about $92 per square foot, to a New York developer that plans to make major renovations to the property, the broker on the deal said Tuesday. Millbrook Properties Ltd. of Manhasset...

05/15/2018
Parsippany-Based Offices Being Repositioned as Bi-Coastal Latitude East and West
The former Morris Corporate Center IV in Parsippany, NJ, has been given a new moniker by the two firms that acquired and consolidated several office buildings at the site into a single complex. The theme is East Coast / West Coast. A joint venture...

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