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
Fitness chain opens at repurposed Newark bank building

Paramount Assets has welcomed a fitness chain to a once-vacant bank building in Newark, which it has upgraded in an effort to repurpose the property for new tenants.

Office
Investors acquire Parsippany buildings from Mack-Cali, JLL says

Two former Mack-Cali Realty Corp. buildings in Parsippany are under new ownership, following a set of investment sales announced this week by JLL.

Retail
Franklin shopping center fetches $12.8 million

A local investor has paid nearly $13 million to purchase a 67,500-square-foot retail center in Franklin Township, according to brokers with Marcus & Millichap.

Retail
Grocer, beauty retailer signal latest shift for Middlesex County shopping center

The changing face of retail is on full display at the North Village Shopping Center on Route 1, where a new Trader Joe’s recently opened in a space vacated by Barnes & Noble. The center has now attracted another leading name in retail — all part of an effort by its management team to reinvent the property for the second time in less than 20 years.

Professional Services
Pierson announces new broker hire

Pierson Commercial has made a new addition to its retail brokerage team.

Residential & Mixed Use
Developers begin rehab of historic New Jersey Bell tower in Newark

A joint venture has started construction to restore a historic office tower in downtown Newark, with plans to create 265 apartments and 80,000 square feet of office and retail space.

Retail
Jeffery: 156,000 sq. ft. retail center changes hands in Ocean County

A New York-based real estate firm has closed on a 156,000-square-foot shopping center in Ocean County, in a transaction arranged by Jeffery Realty Inc.

Finance & Capital Markets
Meridian: Buyer wanted for prime 486-unit development site in Jersey City

Brokers with Meridian Capital Group are marketing what they say is a rare opportunity — a development site in Jersey City with approvals for nearly 500 apartments.

Office
Mortgage banker, child care among latest tenants at Marlton redevelopment

Two new tenants have committed to a 540,000-square-foot, mixed-use property in Marlton, where its owner is in the midst of a $70 million redevelopment project.

Retail
Net leased dollar store property sells for $2.1 million, Marcus & Millichap says

A developer has sold an 8,500-square-foot retail property in Elizabeth for more than $2 million, according to brokers with Marcus & Millichap who orchestrated the deal.