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
Retail, office building in South Orange trades for $11.6 million, Kislak says

A mixed-use property in downtown South Orange has changed hands for $11.6 million, in a newly announced transaction by The Kislak Co.

Retail
Sheldon Gross inks sale of East Hanover strip center

An investor has purchased a nearly 27,000-square-foot strip mall in East Hanover, under a newly completed transaction by Sheldon Gross Realty.

Retail
Burlington County retail center trades for $1 million, Marcus says

A private buyer has acquired a nearly 12,000-square-foot retail property in Burlington County, under a newly announced transaction by Marcus & Millichap.

Retail
Landlords brace for fallout, search for solutions with retailers battered by COVID-19 shutdown

New Jersey shopping centers that once buzzed with a steady hum of activity have been quiet since late March, with most retail businesses shut down to contain the spread of COVID-19. Retail landlords are now scrambling to figure out how to deal with tenants who say they can’t pay rent because their revenue streams have stopped cold — even though property owners still have their own financial obligations.

Finance & Capital Markets
Northmarq inks $16.5 million refi for Bergen County retail center

The owner of a grocery-anchored shopping center in Bergen County has refinanced the property for $16.5 million, under a newly announced transaction by Northmarq.

Retail
Bridgewater Commons mall owner taps Texas developer to oversee leasing, management

An investment group that owns the sprawling Bridgewater Commons mall has hired a Texas-based developer to lease and manage the nearly 1.3 million-square-foot property.

Retail
Goldstein Group inks sale of fast food property in Hudson County

A fast food property in Hudson County has changed hands for an undisclosed price, in one of two newly announced transactions by The Goldstein Group.

Deals
Italian distributor acquires ex-restaurant property in Kenilworth, DiLeo-Bram says

An industrial equipment distributor has purchased the site of a shuttered restaurant in Union County, brokers with NAI DiLeo-Bram & Co. announced Friday.

Retail
Counseling service inks lease at mixed-use site in Burlington County

A counseling service has signed a long-term lease within a mixed-use property in Burlington County, brokers with Vantage Real Estate Services announced Friday.

Government & Public Policy
Murphy gives towns option to extend May property tax deadline

Municipalities in New Jersey may now extend by one month the grace period for quarterly property tax payments that are due on May 1, Gov. Phil Murphy announced Tuesday.