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.

Cover Story
On the horizon: NAIOP New Jersey is future-focused (at a pivotal time), with strategic plan in place and a governor’s race looming

This year’s gubernatorial and legislative elections loom large amid NAIOP New Jersey’s new four-year strategic plan and its focus on advocacy, creating new value for its members and elevating the commercial real estate sector in the minds of outside stakeholders.

Featured
KABR, Hornrock break ground on 216-unit rental project at Overpeck Corporate Center

Executives with KABR Group and Hornrock Properties joined Ridgefield Park Mayor Adam MacNeill and other officials on Oct. 22 to break ground on a new 216-unit luxury apartment building at 95 Challenger Road in Overpeck Corporate Center. — Courtesy: KABR/Hornrock…

Professional Services
Land use, redevelopment attorney Silbert joins MSW as counsel

Murphy Schiller & Wilkes LLP has bolstered its land use, zoning and redevelopment team with the addition of Michael E. Silbert as counsel.

Residential & Mixed Use
Harrison property with six rentals, retail space trades for $1.1 million, Cervelli says

An investor has purchased a six-unit apartment building with retail space in Harrison for $1.11 million, according to a team with Cervelli Real Estate & Property Management.

Government & Public Policy
Housing, industrial developments loom large in NJ Transit plan to monetize 8,000-acre real estate portfolio

NJ Transit has unveiled a plan to redevelop or better leverage its 8,000-acre real estate portfolio, touting the potential to create up to $1.9 billion in new revenue in the coming decades.

Residential & Mixed Use
JLL: Toll Brothers, partners sell 417-unit Jersey City rental tower to Rockpoint

A joint venture led by Toll Brothers has sold a 417-unit high-end apartment tower in Jersey City, in a deal that brokers touted as New Jersey’s largest multifamily transaction this year.

Residential & Mixed Use
Connell breaks ground on 149-unit rental project as latest phase of The Park in Berkeley Heights

Construction is set to begin on a second apartment building at The Park in Berkeley Heights, one of several projects that are underway as part of a plan to create a new mixed-use, downtown-style corridor at the 185-acre property along Interstate 78.

Retail
Prism, dental practice ink lease to fill last retail space at The Nell in Dunellen

Prism Capital Partners has filled the final retail space at a mixed-use development in Dunellen, securing a new 3,800-square-foot lease with a full-service dental practice.

Top News
Procida wins $39 million judgment against ex-developer of Cherry Hill housing project

Procida Funding & Advisors LLC has secured a $39 million judgment against a former borrower and builder of a once-stalled senior housing development in Cherry Hill.

Finance & Capital Markets
Invictus lends $60 million for new 266-unit rental project near Plainfield train station

Ramani Group has closed on a $60 million construction loan from Invictus Real Estate Partners for a planned 266-unit apartment building in downtown Plainfield.