A real estate investment and management firm has quietly built a portfolio of transit-centric, workforce housing properties in northern New Jersey — with local holdings that have grown to some 40 properties with more than 2,000 apartments — and it sees a continued opportunity for expansion in the state and in the region.
Over the past 15 years, Panepinto Properties and Ironstate Development have transformed an entire block in the heart of downtown Jersey City, delivering three towers with nearly 1,500 apartments, along with a 152-key hotel, a 1,000-space parking garage and street-level retail space along Columbus Drive. In the process, they have anchored the resurgence of a neighborhood just a few blocks from the Hudson River, paving the way for other projects in the booming multifamily submarket.
Amid the growth of more cost-effective, less disruptive forms of environmental cleanup, Langan Engineering and Environmental Services has packaged those technologies with its vast geotechnical and civil engineering platform, providing a creative, full-service option for clients seeking to redevelop contaminated sites.
For a project that will bring more than 400 new apartments and townhomes to Gloucester County’s largest town, a joint venture is banking on the demand for health care services as a key driver of the property and a potential model for other mixed-use projects in the state.
A new facility with 53,000 square feet of recreational, therapeutic and educational space will soon open in Livingston, providing a second chance for a long-vacant building and a new home for a nonprofit that serves youths with special needs.
With a limited supply and an increasingly savvy approach to logistics, tenants are pushing the historical boundaries of the New Jersey industrial market and expanding not only westward, but to the southernmost parts of the state and to the east to New York City. As occupiers explore these new frontiers, developers and brokers in New Jersey are following suit with a more regional approach to the warehouse and distribution sector.
Dermody Properties’ 1,100-acre logistics park in Logan Township has attracted a long list of well-known users over more than decade. And the firm is now set to enter its last phase of development — breaking ground on two buildings that will add another 563,000 square feet to the portfolio.
Yorktel, a provider of video and audio communications services, has become a guiding hand for companies that are transitioning to so-called next-generation workplaces. That has meant advising clients on everything from choosing the right videoconferencing equipment to picking the optimal conference rooms, huddle rooms and other collaboration spaces.