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
FNRP names executive chairman, chief investment officer in two C-suite moves

First National Realty Partners has named a new executive chairman and chief investment officer after a promotion and a new hire on its Red Bank-based team.

Retail
Florham Realty: Staten Island tile distributor to open in Manasquan, leasing 2,000 sq. ft.

A tile distributor is opening its first New Jersey location after leasing 2,000 square feet in Manasquan, according to a brokerage team with Florham Realty Group.

Retail
Vantage Commercial: Five tenants join West Deptford retail center, with updates still to come

The owner of a soon-to-be-updated shopping center in Gloucester County has secured five new tenants for the property, according to a team with Vantage Commercial.

Finance & Capital Markets
Investors take pause, reassess as interest rates shock commercial real estate market

The rapid rise in interest rates has caused a sudden slowdown and growing uncertainty in New Jersey’s investment sales market, leading buyers to reassess their plans in the near term, while placing newfound pressure on even the strongest asset classes.

Retail
PREIT sells Vineland mall for $45 million in ongoing quest to shrink debt load

PREIT has sold Vineland’s Cumberland Mall and several outparcels for $45 million, shedding another piece of its South Jersey portfolio to help reduce a reported $1.8 billion in debt.

Retail
LMC: Tattoo studio opens after inking 750 sq. ft. lease in Somerset

A longtime tattoo artist has opened a new studio in Franklin Township, where it’s leasing 750 square feet under a deal arranged by Levin Management Corp.

Residential & Mixed Use
Grid: Investor buys 10 apartments, retail space in Jersey City Heights for $3.8 million

An investor has picked up 10 apartments and two retail spaces with its purchase of a two-building portfolio in Jersey City, according to a broker with Grid Real Estate.

Hospitality & Tourism
Denholtz, BarCo brands ink 17,000 sq. ft. lease at Fort Monmouth food, beverage hub

A third tenant has committed to Denholtz Properties’ new food and beverage destination at the Fort Monmouth site, taking the remaining space at the 53,000-square-foot building.

Roundtable
What are we still learning about Hurricane Sandy’s impact on commercial real estate?

What are we still learning about Hurricane Sandy’s impact on commercial real estate? We assembled a panel of industry experts to tackle this month’s question.

Finance & Capital Markets
Unity Bank taps Peene as senior vice president, chief depository officer

A banking industry veteran has joined Unity Bank as its senior vice president and chief depository officer, the Clinton-based lender announced.