Paramount nears completion of 70-unit rental building in Plainfield

Paramount Assets is set to unveil a new 70-unit luxury apartment building in Plainfield that has helped revitalize the former site of a used car dealership.

Greek announces key promotions, new hires for third-party construction team

Greek Development has announced a flurry of promotions and new hires in connection with its fast-growing, third-party construction and project management division.

STRO taps 20-year real estate veteran as chief operating officer

The STRO Cos. has announced the hiring of a new chief operating officer.

Consultant takes 5,465 sq. ft. at new mixed-use Somerville building, Deluccia says

A consultant for large-scale utility projects has leased nearly 5,500 square feet at a new mixed-use building in Somerville, in a deal arranged by Deluccia Commercial Group.

Cheaper by the dozens: N.J. Legislature considers bill proposing unlimited restricted liquor licenses for annual fee

The New Jersey Legislature is considering a bipartisan bill (S355/A3710) that establishes a restricted beer, wine and cider license that would allow restaurants, for a small annual fee, to sell certain alcoholic beverages to their patrons. In an effort to counteract the diminution in value of already-owned liquor licenses, the proposed bill provides tax credit under corporate business tax and gross income tax for loss in value to certain alcoholic beverage licenses. Despite this tax credit, there is sure to be a significant decrease in the value of already-owned liquor licenses. This loss in value is likely to in turn diminish the value of the properties underlying those licenses.

LMC: Optimism reigns (but inflation looms) ahead of holiday shopping season

Retailers in and around New Jersey were largely optimistic ahead of a critical holiday shopping season, while still grappling with concerns about inflation and other economic pressures.

Investors take pause, reassess as interest rates shock commercial real estate market

The rapid rise in interest rates has caused a sudden slowdown and growing uncertainty in New Jersey’s investment sales market, leading buyers to reassess their plans in the near term, while placing newfound pressure on even the strongest asset classes.

XBL Realty sells 44,000 sq. ft. life sciences building in Plainsboro, C&W says

Cushman & Wakefield has negotiated the sale of a 44,400-square-foot life sciences building in Plainsboro, the brokerage team announced Thursday.

Kislak: Owner of 14-unit New Brunswick apartment building sells after 30 years

The longtime owner of a 14-unit apartment building in New Brunswick has sold the property for $1.8 million in cash, in a deal arranged by The Kislak Co. Inc.

PREIT sells Vineland mall for $45 million in ongoing quest to shrink debt load

PREIT has sold Vineland’s Cumberland Mall and several outparcels for $45 million, shedding another piece of its South Jersey portfolio to help reduce a reported $1.8 billion in debt.