The owner of three medical office buildings at Belleville’s Clara Maass Medical Center has completed two new leases within the portfolio, brokers with NAI James E. Hanson announced.
Health Care & Education
The health care and education sectors are undergoing dramatic changes. So are their real estate needs.
Plans to revamp mall parcels with new apartments, public space taking shape across New Jersey
Redevelopment is coming to some of New Jersey’s largest malls, as owners and local officials weigh plans to add apartments, health care facilities and vibrant public spaces meant to infuse them with new foot traffic. Proponents say the projects are essential to the long-term health of even the most successful assets. In other cases, they’re a potential lifeline to once-dominant shopping hubs that have become obsolete and seen their values plummet in recent years.
Changing times
As you’ll read in this month’s cover story, redevelopment is coming to some of New Jersey’s largest malls — from the mecca of Paramus to Burlington County — as owners and local officials mull the future of their cherished shopping centers. Increasingly, those plans call for bringing new apartments, health care facilities and vibrant public spaces meant to create new foot traffic. Many of these projects are now moving forward in the Garden State, with more to follow, despite pockets of opposition and the challenge of repurposing a sprawling property with longstanding anchor tenants.
