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.

Professional Services
NAI Hanson acquires The Garibaldi Group, NAI Summit to combine storied brokerage firms

NAI James E. Hanson has acquired The Garibaldi Group, bringing together two of New Jersey’s oldest and most recognizable brokerage and real estate services firms.

Retail
7 Brew Coffee eyes new store in Clark with lease at key intersection, Atlantic Coastal says

A coffee chain is expanding in central New Jersey after leasing a vacant bank property in Clark, in a deal arranged by Atlantic Coastal Real Estate and RIPCO Real Estate.

Deals
Zimmel: Denholtz sells 74,000 sq. ft. mixed-use portfolio in Clark commercial corridor

Denholtz Properties has sold a nearly 74,000-square-foot commercial portfolio in Clark for $18 million, in a newly announced deal by Zimmel Associates.

Retail
Staffing agency leases 1,400 sq. ft. at new Jersey City rental property, Cervelli says

A staffing agency has leased nearly 1,400 square feet at the base of a new boutique apartment building in Jersey City, brokers with Cervelli Real Estate & Property Management said.

Retail
Renovated 10,000 sq. ft. strip center in Bergen County fetches $4.3 million, Marcus says

A private investor has acquired a roughly 10,000-square-foot strip center in Bergen County for some $4.3 million, in a transaction arranged by Marcus & Millichap.

Retail
Valley Bank opens new Norwood branch after deal brokered by The Goldstein Group, JLL

Valley Bank has opened the doors to a new 2,800-square-foot branch location in northern Bergen County, having leased the space earlier this year.

Current Issue
Owners Council Q&A: Jack Morris

I’ll always be bullish on New Jersey. As with any market, we may need to endure some ups and downs, but our state’s fundamentals give us a high floor and a very high ceiling. Qualities like access to New York City, a highly trained workforce, great medical facilities and care, an array of recreational assets and municipalities that are attractive to families give New Jersey long-term appeal. Also, citizens value safety and security, and I want to give kudos to the incredible law enforcement professionals who serve our communities in New Jersey each and every day.

Retail
Party City going out of business, plans to shutter 700 stores nationwide

Party City is set to close its roughly 700 stores nationwide, including two dozen in its home state of New Jersey, as the struggling retailer prepares to go out of business.

Retail
Vito Mazza, fixture in downtown Woodbridge, opens new salon at Prism’s Avenue & Green

Prism Capital Partners has welcomed a full-service salon and spa to its Avenue & Green project in Woodbridge, providing a new home for one of the township’s best-known businesses.

Retail
Better Homes and Gardens leases 1,400 sq. ft. at Ringwood retail center, Azarian says

Better Homes and Gardens Real Estate has taken more than 1,400 square feet at a Ringwood retail property, according to a brokerage team with Azarian Realty Co.