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.

Government & Public Policy
Newark developers, city leaders unveil long-awaited park project near Prudential Center

Developers and city officials gathered in Newark on Thursday to mark a milestone more than a decade in the making — the opening of a new public park adjacent to the Prudential Center, setting the stage for a wave of new investment between the arena and Newark Penn Station.

Editor’s Note
Good vibes

As you’ll read in this month’s cover story, local leaders in Red Bank are increasingly open to the idea of redevelopment and smart growth in their community. The 2.2-square-mile borough has long held the cachet of towns such as Montclair and Morristown, but new mixed-use projects have been few and far between.

Industrial
The RealReal opens 490,000 sq. ft. e-commerce center in Perth Amboy

An online luxury consignment shop has officially added to its footprint in New Jersey, marking the opening of its nearly 500,000-square-foot distribution center in Perth Amboy.

Government & Public Policy
Developer, HMFA break ground on 103-unit affordable project in Mount Laurel

Construction is underway on a 103-unit affordable housing complex in Mount Laurel, thanks in part to a subsidy package from the New Jersey Housing and Mortgage Finance Agency.

Government & Public Policy
Kearny Point access road slated for ‘complete green street’ redevelopment

The main access road into the sprawling, distinctive Kearny Point development is slated to become significantly greener and more welcoming to pedestrians and cyclists, thanks to a new $3 million federal grant that was awarded to its host municipality.

Office
Audible unveils 80,000 sq. ft. ‘innovation cathedral’ at historic Newark church

Audible has completed its restoration of a historic church in downtown Newark, debuting a new 80,000-square-foot office and innovation space as part of its growing footprint in the city.

Events
NAIOP honors transformative deals, industry icons at annual gala

Two of the state’s most ambitious redevelopment and adaptive reuse projects were among the top honorees Thursday at NAIOP New Jersey’s annual gala, where a crowd of hundreds celebrated the commercial real estate industry and some of its leading figures.

Residential & Mixed Use
Pennrose, HMFA mark start of 172-unit affordable project at former Army camp

Pennrose has broken ground on the first piece of a 172-unit affordable housing development in Edison, seeking to redevelop a former U.S. Army property that dates back to World War II.

Events
Monmouth to honor Zucker, Marchetta at annual real estate dinner

Monmouth University will honor Ralph Zucker and Anthony Marchetta at its upcoming real estate awards dinner, adding to the list of industry leaders to be highlighted at the annual event.

Office
C&W details bank’s acquisition of 70,000 sq. ft. Fort Lee office building

A financial services firm will occupy more than half of its newly acquired 70,000-square-foot office building in Fort Lee, following a transaction arranged by Cushman & Wakefield.