Hospitality & Tourism

Whether it’s the proximity to New York City or all of the tourist attractions that New Jersey has to offer, the Garden State’s hospitality industry is booming. Hotels are increasingly becoming part of major redevelopment projects.

Upscale Asbury Park hotel set to reopen after COVID shutdown

A luxury hotel along the Asbury Park waterfront is set to reopen after being closed due to the coronavirus outbreak.

Caesars, VICI selling Bally’s Atlantic City for $25 million

Caesars Entertainment Corp. and VICI Properties Inc. have agreed to sell the Bally’s Atlantic City Hotel & Casino, further reducing Caesars’ footprint in the resort town.

Mack-Cali details rent collections, construction activity during pandemic

Rent collections for Mack-Cali Realty Corp.’s office and residential holdings have held strong thus far, as the company works with tenants to navigate the COVID-19 economic crisis.

Mack-Cali donates $100,000, hotel rooms to Jersey City hospital staff treating COVID-19

With Jersey City Medical Center on the front lines of the COVID-19 crisis, Mack-Cali Realty Corp. has donated a block of area hotel rooms to support health care workers at the hospital.

JMF Properties brings major retail tenants to NJ

JMF Properties, one of New Jersey’s leaders in residential and commercial redevelopment, has emerged from 2019 with a growing roster of brand-name retail and hospitality tenants.

East Brunswick, developer uniting around common goal — transforming Route 18

A new public-private alliance has emerged in East Brunswick, where local leaders and a development team have united to revive a stretch of blighted retail property on Route 18.

Kennedy Funding inks $2.75 million loan for luxury hotel project

Kennedy Funding has closed a $2.75 million loan that will help jumpstart a hotel development in one of Alabama’s largest cities.

Kennedy Funding closes $3 million loan for Belize resort development

Kennedy Funding has added to its international lending portfolio with the closing of a $3 million loan for a waterfront residential development in Belize.

Meadowlands hotel fetches $19 million, Marcus says

An institutional investor has acquired a 244-room hotel in Hasbrouck Heights, in a nearly $19 million sale arranged by Marcus & Millichap.

Real Estate NJ’s 2020 Market Forecast

A new year is upon us, bringing new opportunities and new uncertainty for New Jersey’s commercial real estate market. To make sense of it all, we recruited some of the industry’s most influential professionals, developers and thought leaders to share their predictions for the year ahead. You can find those insights and more in our special 2020 Market Forecast.