Retail

The New Jersey retail landscape has changed, but the spending power of its residents hasn’t. Owners of malls, shopping centers and mixed-use projects will continue to adapt and invest in the state.

Bolstering the ranks

As you’ll read in this month’s cover story, Prologis’ growing team is supporting a portfolio that now spans 44 million square feet across 200 properties in New Jersey and New York. Growing that footprint will come in a number of ways, Harty said, including the types of creative, value-add projects that involve redeveloping former office campuses. That, in turn, requires additional development and construction personnel like the kind that Prologis has added in recent months. And it comes as the company also hires for what’s known as its Essentials platform, which provides services to tenants such as helping them source materials for their building fit-outs, in a bid to engage them “beyond the four walls and the real estate.”

Adoni sells 42,000 sq. ft. Somerset retail center for $13 million, C&W says

Adoni Property Group has sold a retail center in the Somerset section of Franklin for nearly $13 million, brokers with Cushman & Wakefield announced Tuesday.

Office, retail building changes hands in Paramus, NAI Hanson says

An investor has purchased a 3,800-square-foot commercial property on Route 17 in Paramus, in a newly announced transaction by NAI James E. Hanson.

JDA taps Pierson Commercial to lease retail development site in Ocean County

JDA Group LLC has named Pierson Commercial as its leasing agent for a retail property in Ocean County, where the firms are touting in-place approvals for new development.

Investor adds triple-net-leased Wawa property in Camden County, WCRE says

An investor has purchased the site of a triple-net-leased Wawa store in the Camden County township of Voorhees, under a recent deal by Wolf Commercial Real Estate.

Larken Associates renews lease with new owners of The Goddard School in Branchburg

Larken Associates has negotiated a lease to keep The Goddard School at its Branchburg Commons campus in Branchburg.

Tech firm’s 7,500 sq. ft. lease in Hoboken among new deals by Equity Real Estate Brokerage

A technology firm has leased 7,500 square feet of office and research space in downtown Hoboken, in one of several newly announced deals by Equity Real Estate Brokerage LLC.

Renaissance Properties adds three tenants at Burlington County town center project

Three new retail tenants are coming to Renaissance Properties’ mixed-use, downtown-style development in the Burlington County township of Chesterfield.

Hampshire-backed REIT buys 400,000 sq. ft. grocery-anchored center outside Philadelphia

A real estate investment trust with ties to The Hampshire Cos. has expanded its holdings with a grocery-anchored shopping center in Pennsylvania’s Montgomery County.

TFE inks three health care leases at revamped retail sites in East Brunswick, Freehold

Development firm TFE Properties has attracted three health care tenants for a combined 63,000 square feet at repurposed retail sites in East Brunswick and Freehold.