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.

People
Larken Associates promotes Kerr to director of commercial asset management

Larken Associates has elevated Jamie Kerr to director of commercial asset management, marking her latest promotion since joining the Branchburg-based team in 2020.

Finance & Capital Markets
JLL: Buyer of Newark’s Springfield Avenue Marketplace lands $23 million acquisition loan

The new owner of a grocery-anchored shopping center in Newark has closed on more than $23 million in acquisition financing, in a newly announced deal by JLL.

Residential & Mixed Use
District 15Fifteen in Parsippany welcomes first residents, as momentum builds for retail leasing

A major mixed-use development is taking shape along Route 10 in Parsippany, with residents now moving in and a flurry of leasing activity at the property’s retail space.

Retail
Edison shopping center with grocery anchor space sold for $24 million, Goldstein Group says

The site of a 120,000-square-foot shopping center in Edison has changed hands for $24 million, in a newly announced deal by The Goldstein Group.

Retail
Urban Edge, TruGolf ink 6,000 sq. ft. deal for new golf simulator, restaurant in Cherry Hill

Urban Edge Properties has signed a deal that will bring an indoor golf simulator and high-end restaurant concept to a grocery-anchored retail center in Cherry Hill.

Retail
Net-leased Mavis Discount Tire property trades for $3.49 million, Marcus says

A private investor has acquired a nearly 6,900-square-foot retail property in Toms River for some $3.5 million, brokers with Marcus & Millichap announced Monday.

Retail
Longtime retail leasing, development executive Casiero joins Bennett Realty

Bennett Realty & Development has hired Dan Casiero as vice president of leasing and redevelopment, the Holmdel-based firm announced Thursday.

Retail
Institutional buyer adds Bucks County retail property in $12 million deal, CBRE says

An investment firm has acquired a 25,000-square-foot retail property about 15 miles west of New Jersey, in Pennsylvania’s Bucks County, under a deal arranged by CBRE.

Hospitality & Tourism
Development group crafting plans for Freehold Raceway after acquiring iconic horse track

A development group has acquired the historic Freehold Raceway property, marking a first step toward repurposing the horseracing track after it succumbed to years of declining business.

Retail
Nothing Bundt Cakes takes 1,800 sq. ft. at Flemington Marketplace, LMC says

Nothing Bundt Cakes is coming to a 239,000-square-foot shopping center in Flemington, adding to its footprint in New Jersey and a vast portfolio of stores in North America.