A joint venture has secured $22 million in financing for its plan to expand a Newark office building and repurpose it as a new 10-story, 92-unit multifamily property.
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.
Another chapter
As you’ll read in this month’s cover story, the city of New Brunswick ended 2023 on a high note when Nokia announced that it would become the new home of its iconic Bell Labs division. The company, which will move from its historic campus in the Murray Hill section of Union County, plans to occupy a built-to-suit, 360,000-square-foot research tower at the new HELIX campus by 2028. It’s slated to do so under a lease with SJP Properties, which will build the facility in partnership with New Brunswick Development Corp., the project’s master developer, in a signature deal for the city and for the three-building, multibillion-dollar redevelopment project.
