Duke Realty Corp. has signed a new industrial lease in South Brunswick, securing a commitment for more than 200,000 square feet from an apparel importer.
A developer is detailing plans for a new luxury apartment project in Belleville, as it touts a $200 million capital infusion to expand into New Jersey and throughout the East Coast.
Kokes Properties has announced the hiring of a new community manager as part of the team for a 190-unit residential project under construction in Burlington County.
Institutional capital is abundant, and often times this capital is deployed to warehouse development opportunities to support global supply chains.
The new owner of a 24-building, 1.24 million-square-foot industrial portfolio in South Jersey and Bucks County, Pennsylvania, has selected NAI Mertz as its leasing agent.
The IRS recently released long awaited guidance on Sec. 1031 (like-kind exchanges) and defines what property qualifies for the deferred tax treatment. With the enactment of Tax Cuts and Jobs Act (TCJA), rules provide that no gain or loss is recognized on the sale or exchange of “real property” held in a trade or business or for investment. Prior to the TCJA, “personal property” (like automobiles, machinery or equipment) applied for the deferral. This change means a real estate investor recognizes gain to the extent of money and personal property ineligible for the tax deferral.
The current version of the New Jersey Cannabis Regulatory, Enforcement Assistance, and Marketplace Modernization Act, which was passed by the state Legislature on December 17, 2020, provides a framework for legalizing recreational cannabis in the state, including six different classes of licenses to be considered by those looking to enter the cannabis business marketplace. As we discussed in Part I in our series on cannabis, early identification of an ideal region and/or municipality for the proposed licensed premises is critical to success. However, there are a host of other factors and potential snags that an applicant must take into consideration before selecting a location.