A food company has acquired a 62,000-square-foot industrial building in Perth Amboy as part of a plan to relocate from Brooklyn, brokers with Bussel Realty Corp. announced.
Government & Public Policy
From zoning disputes to the federal tax code, public policy affects the commercial real estate sector far more than you may realize. For industry leaders, government and politics demand constant attention.
EDA seeking applications for grant program for ailing office, retail buildings
The state Economic Development Authority is accepting applications for a new grant program aimed at helping municipalities and counties find solutions for vacant or underused commercial properties within their borders.
CREW NJ honors industry leaders at 35th anniversary event
Commercial Real Estate Women of New Jersey celebrated its 35th anniversary last week, drawing top development executives and service professionals to mark the milestone and hail the successes of the industry’s female leaders.
Startup moving to Kearny Point, leasing 113,000 sq. ft.
A fashion design and supply chain startup is heading to the sprawling Kearny Point development, where it will occupy a new 113,000-square-foot manufacturing facility.
Capital, rising rents and motivated investors lead to favorable CRE outlook
Recent surveys show support for the notion that the fundamentals underpinning commercial real estate will be stronger in 12 months than they are today. This is thanks in part to the belief that rents will rise and the idea that the benefits of the new federal tax law, including the Opportunity Zone program, will bring capital off of the sidelines.
Elizabeth site slated for new residential development
A developer has closed on a former brownfield site in Elizabeth, paving the way for a mixed-use project that will include nearly 50 new homes.
NJAA honors top multifamily operators, service providers at annual gala
Three multifamily owners and management firms took home the top honors at the New Jersey Apartment Association’s recent Garden State Awards of Excellence gala, where the organization recognized dozens of rental communities and service providers.
Developers, state officials face dual task with Opportunity Zone projects
Amid the rollout of the new federal Opportunity Zone program, developers and public officials are trying to balance two key objectives: Identifying shovel-ready projects — allowing investors to maximize the tax benefits of the law — and steering capital to low-income areas that weren’t already attracting investment and may have higher barriers to entry. The state believes it can check both boxes with the right coordination and by layering in the subsidies that have helped revitalize many of New Jersey’s cities and downtowns.
HMFA awards $28 million in tax credits, supporting 1,400 affordable housing units
By Joshua Burd The state has awarded its latest round of funding under the federal Low Income Housing Tax Credit program, allowing developers to generate an estimated $270 million in private equity in support of more than 1,400 new affordable…
Jonathan Rose lands $92 million for Newark affordable housing rehab
Jonathan Rose Cos. has secured more than $90 million in financing and equity to rehabilitate and enhance a 429-unit affordable housing complex in Newark.
