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Northern New Jersey
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Thousand Oaks Village Apts Sold for $56M
Bertram Associates Inc. sold the 306-unit Thousand Oaks Village apartments at 165 Thousand Oaks Dr. in Atlantic Highlands, NJ to The KRE Group for $56 million, or about $183,000 per unit. The 511,152-square-foot multifamily community was built in...

Toys R Us Crafts Settlement With Some Creditors
Roughly two weeks after it closed all its remaining stores, Toys R Us has reached a settlement with a group of its creditors following what it described as "months of intense, hard fought, arm’s-length negotiations." The failed toy retailer, which...

Cushman & Wakefield Adds to Retail Team in NJ
Cushman & Wakefield has made another hire to bolster its retail team for New Jersey and the Tri-State area. Retail-leasing specialist Alana Friedman has joined Cushman & Wakefield as a senior associate, based in the firm's East Rutherford office, the...

Real Estate Firm NAI James E. Hanson Relocates HQ to Teterboro
NAI James E. Hanson, a commercial real estate firm with deep ties to Hackensack, NJ, has relocated its headquarters from the city to nearby Teterboro in the Meadowlands. NAI James E. Hanson, part of the Hanson family's real estate dynasty in North...

Mainfreight Takes 110,000 SF in Largest Kearny Industrial Lease YTD
In the largest industrial lease signed in the Lyndhurst / Harrison submarket so far this year, global logistics provider Mainfreight will take occupancy of 110,147 square feet in River Terminal Development's new industrial building in Kearny, NJ, the...

New Opportunistic and Multifamily Funds Help Reheat Real Estate Private Equity Market
One of Taconic Capital's latest investments was the mortgage securing JPMorgan International Plaza in Dallas. Private equity fundraising for real estate shows signs of heating up again in July after a slower pace in the second quarter. Firms raising...

NJ Governor, Sen. Booker Beat Drum for NJ Opportunity Zones
New Jersey Governor Phil Murphy and U.S. Senator Cory Booker on Monday touted the Garden State’s new Economic Opportunity Zones, wooing a large group of potential investors who could win capital-gains tax breaks for doing real estate projects in those...

NJ Environmental Protection Chief Vows to Keep Quickening Approval Process
MCCABENew Jersey Governor Phil Murphy’s pick to lead the state’s Department of Environmental Protection (DEP) told commercial real estate executives on Thursday that she will continue the prior administration’s efforts to speed up the permitting-approval...

New Jersey's Empty Office Park Glut Eases With Merck Headquarters Sale
The former Merck headquarters complex is a hexagon-shaped structure containing roughly 1.24 million square feet, located on an 1,100-acre campus in Hunterdon County. New Jersey will soon have one less giant, empty suburban office park. Unicom Corp...

Political Tensions Facing Amazon HQ2 Finalists Emerge in New Jersey
The city of Newark has proposed a mix of existing and planned downtown properties, including Two Gateway Center (pictured above), for Amazon’s HQ2.The financial and political tension emerging as 20 regions across the country compete for Amazon's second...

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