Saxum boosts industrial platform with new director of investments

Saxum Real Estate has welcomed a new director of investments for its industrial platform, tapping a veteran executive to spearhead its growth in the asset class.

JLL: Camden County takes 154,000 sq. ft. to complete lease-up of Cherry Hill office building

The owner of a Cherry Hill office building has leased more than 150,000 square feet to Camden County, capping a two-year string of deals to bring the property to full occupancy.

J.G. Petrucci adds senior housing industry veteran as managing director

J.G. Petrucci Co. Inc. has named a new managing director of senior housing as it looks to grow its footprint in the niche asset class.

NAI DiLeo-Bram inks 34,000 sq. ft. in leases at Edison office complex

Three tenants have combined for nearly 34,000 square feet in leasing volume at a three-building, 264,000-square-foot office park in Edison, according to NAI DiLeo-Bram & Co.

Old Navy leases 14,000 sq. ft. at Kearny Plaza shopping center, Welco says

A new Old Navy store has come to a 62,000-square-foot shopping center in Kearny, in a newly announced transaction by Welco Realty Inc.

Reverse appeals can lead to unexpected property tax liabilities for commercial property owners

As the real estate market remains strong, and property values continue to rise across many asset classes, commercial property owners need to be aware of the growing trend with municipalities aggressively seeking to substantially increase tax assessments for commercial properties by filing their own tax appeals.

Applications underway for Aspire, a program poised to spur large-scale urban development

The New Jersey Economic Development Authority is now accepting applications for Aspire, an aggressive tax credit program that was designed to encourage redevelopment projects using incentive awards to reimburse developers for certain project financing gap costs. With high costs of construction and mandates at the municipal level related to affordable housing requirements as part of market-rate development projects, the need for a gap financing tool is critical and welcomed by those trying to operate in a tight market.

Preparing for your next DCA inspection — and new emergency contact info requirements

On Nov. 8, 2021, New Jersey enacted N.J.S.A. 55:13A-7.19, setting forth new requirements for landlords of multifamily dwellings. The law was designed to supplement the existing Hotel and Multiple Dwelling Law (N.J.S.A. 55:13A-1 et seq.), which is enforced by the Department of Community Affairs’ (“DCA”) Bureau of Housing Inspection. Under the new law, landlords of multifamily dwellings must provide tenants and prospective tenants with specific information regarding emergency contact instructions and how to contact social services for assistance.

Redevelopment trends: New York tristate’s redevelopment in turmoil

Redevelopment activity in the New York Tristate Region is searching for direction. Post-pandemic, there is pressure to redefine business, retail and residential redevelopment programs. The revised target forces everyone to take a longer look and a broader view of the various impacts this redefinition may bring.

The Real Estate NJ events calendar

Your guide to the busy event circuit for New Jersey’s commercial real estate industry.