A collection of more than 630 apartments just outside Princeton is on the market for sale, with the potential to command offers around $200 million.
An investment firm has added to its collection of high-end suburban office buildings in New Jersey, acquiring a two-building, 213,000-square-foot portfolio in the Princeton submarket.
The owner of a newly completed, 104-unit luxury apartment building in Jersey City has secured a $43 million bridge loan, under a transaction arranged by JLL.
A lighting company has leased nearly 29,000 square feet at a Bridgewater office campus, in the larger of two newly announced transactions by Avison Young.
As we adapt to a new way of living and working amidst a global pandemic, the concept of adaptive reuse has been more attractive than ever. For commercial real estate, the strategy of repurposing empty, ubiquitous office space into profitable areas has been a game changer in reducing low occupancy rates and reviving development deals.
Institutional capital is abundant, and often times this capital is deployed to warehouse development opportunities to support global supply chains.
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.