Residential & Mixed Use

The construction boom in New Jersey is no more evident than in the multifamily and mixed-use sector, thanks to changing demographics and the demand for urban-style living, even in the suburbs.

Retail
Organic grocer leases 10,000 sq. ft. at Journal Squared for first New Jersey location

A popular Brooklyn-based grocer is opening its first New Jersey location at Journal Squared, the acclaimed Jersey City residential property by Kushner Real Estate Group.

Finance & Capital Markets
JLL sources $80 million permanent loan for 296-unit Russo project in Garwood

JLL Capital Markets has negotiated $80 million in permanent financing for Vermella at Garwood Station, a new 296-unit, transit-oriented, luxury apartment building in Garwood.

Residential & Mixed Use
Kislak inks sale of 52 units in northern, central New Jersey for combined $6.8 million

Nine apartment buildings in Hudson, Union and Middlesex counties are under new ownership after a series of recent transactions arranged by The Kislak Co. Inc.

People
Wassel, Flanagan named principals with Saxum

Saxum Real Estate has named two new principals as the company continues to expand its team and its geographic footprint.

Government & Public Policy
EDA now taking applications for new Aspire gap financing program

The state’s Economic Development Authority is now accepting applications for Aspire, its new place-based gap financing program for commercial and residential projects.

People
Kokes Properties adds construction manager to growing team

Kokes Properties has announced the hiring of a new construction manager to support its growing project pipeline.

Residential & Mixed Use
Larken accounting manager earns expanded role as Yardi systems admin

Larken Associates has announced a promotion on its residential accounting team as part of a plan to further implement a key technology platform.

Editor’s Note
Jumping in

Call me provincial, but I’m always fascinated these days when I hear that an established investor, developer or retailer that operates nationally is only now finding its way into the New Jersey market. With our labor pool, our consumer base and the all-important draw of being a discount from New York City, one can’t help but wonder what took them so long in the first place — especially in an expansion that goes back more than a decade.

Residential & Mixed Use
Gebroe-Hammer cracks $2 billion in 2021 with sale of nearly 12,800 apartments

Gebroe-Hammer Associates is eyeing continued momentum in 2022 after a year in which it brokered the sale of nearly 13,000 apartments, inking some $2 billion in transaction volume.

Cover Story
How Devco does it: Inside $1.5 billion pipeline — and decades of high-profile New Jersey projects

New Brunswick Development Corp. is forging ahead after a year in which it broke ground on more than $1.5 billion worth of projects — a milestone that’s all the more notable for a team that never does the same project twice.