Joshua Burd
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Joshua Burd, an award-winning reporter and editor, has been covering New Jersey commercial real estate for 13 years. Many industry leaders view him as the go-to real estate reporter in the state, a role he is eager to continue as the editor of Real Estate NJ. He is a lifelong New Jersey resident who has spent a decade covering the great Garden State.

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What you need to know today: the like-kind exchange strategy

A 1031 exchange (like-kind exchange) is one of the most significant tax advantages available to a real estate investor selling a property with large realized gains.  By implementing this tax strategy, it is possible to defer tax payments on the sale of an investment property indefinitely. While like-kind exchanges are common, there are still many complexities to navigate.  Given some of the proposed legislative changes put forth by the Biden administration and members of Congress, it may make sense to accelerate transactions into the 2021 tax year.

Residential & Mixed Use
Developer acquires Teaneck apartment, hotel parcel for $10 million, Marcus says

A development site that could house a new apartment complex or hotel has changed hands in Teaneck, in a newly announced transaction by Marcus & Millichap.

Industrial
Joint venture buys fully leased, 66,000 sq. ft. Jersey City warehouse for $21.7 million

A joint venture has acquired a nearly 66,000-square-foot warehouse in Jersey City for $21.7 million, expanding its portfolio in a key northern New Jersey submarket.

Professional Services
Avison Young bolsters New Jersey project, construction management groups

Avison Young has announced two new hires on its New Jersey project and construction management teams.

Retail
March Construction breaks ground on Toms River retail center, with Brunelli as leasing agent

March Construction has broken ground on a new 12,600-square-foot retail center at 1882 Hooper Ave. in Toms River — Courtesy: March Construction/R.J. Brunelli & Co. LLC

Government & Public Policy
Developer secures final approval for 500,000 sq. ft. mixed-use project in Hoboken, Jersey City

Local officials have cleared the way for a developer to break ground on what will be 500,000 square feet of new commercial and residential space at the border of Hoboken and Jersey City.

Residential & Mixed Use
Kislak: Linden apartments trade for $21 million, marking first sale in 75 years

The developer of a 120-unit apartment complex in Linden has sold the property after nearly 75 years, in a newly announced transaction by The Kislak Co. Inc.

Industrial
Colliers inks sale of 23,000 sq. ft. warehouse in Burlington County

A joint venture has purchased a nearly 23,000-square-foot warehouse in Moorestown, under a transaction arranged by Colliers International.

Office
Fiserv to open 400,000 sq. ft. fintech hub in Berkeley Heights, with $109 million incentive

Fiserv Inc. has announced plans to lease more than 400,000 square feet for a new financial technology hub in Berkeley Heights, following the state’s approval of a seven-year, $109 million tax credit to encourage it to bring nearly 2,000 jobs to New Jersey.

Industrial
Port industrial building in Elizabeth trades for $35 million

A fully leased, 240,000-square-foot industrial building near Port Newark-Elizabeth has changed hands for nearly $35 million, brokers with Cushman & Wakefield announced.