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.

Retail
Marcus inks $1.6 million ground lease sale for AutoZone property

A private investor has sold an AutoZone ground lease in south central Pennsylvania, in a newly completed deal by Marcus & Millichap’s New Jersey office.

Government & Public Policy
Denholtz acquires 26-acre Fort Monmouth parcel, plans $60 million redevelopment

An affiliate of Denholtz Properties has closed on 26 acres at Fort Monmouth, where it’s planning nearly 270,000 square feet of high-end commercial, technology and food and beverage space.

Health Care & Education
Eye doctor takes 1,500 sq. ft. at office, medical complex in Branchburg

An ophthalmology practice is coming to a Branchburg office complex after signing a 1,504-square-foot lease with Larken Associates.

Retail
Vantage Commercial: Cherry Hill restaurant building sold, slated to become retail

A former restaurant and catering hall building in Cherry Hill has changed hands, following a transaction arranged by Vantage Commercial.

Finance & Capital Markets
Spencer names senior vice president, director of market growth and development

Spencer Savings Bank has named a new senior vice president, who will spearhead efforts to lead and execute strategic growth strategies.

Residential & Mixed Use
Prism on track for spring completion at Woodbridge rental project

Prism Capital Partners is eyeing a spring delivery for more than 230 new apartments in downtown Woodbridge, as it nears a construction milestone for the mixed-use project.

Retail
Mount Olive shopping center trades for $6 million, Marcus says

A private investor has acquired a shopping center in Mount Olive for $6 million, under a newly announced transaction by Marcus & Millichap.

Government & Public Policy
Somerset Development marks milestone for Bell Works, provides $5.2 million to Holmdel

Somerset Development announced that it has provided more than $5 million to the township of Holmdel, fulfilling a redevelopment agreement tied to the acclaimed transformation of the iconic former Bell Labs facility into the 2 million-square-foot, mixed-use Bell Works campus.

Retail
Edison auto dealer site on the market for sale, Lee & Associates New Jersey says

The owner of a car dealership property in Edison is seeking a buyer, having retained Lee & Associates New Jersey to market the parcel.

Retail
LMC: Bank leases 2,100 sq. ft. at Chatham shopping center

A shopping center near downtown Chatham is now fully leased after a commitment by a growing New Jersey bank, brokers with Levin Management Corp. announced.