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.

Government & Public Policy
EDA approves $25 million in grants for Newark, Atlantic City commercial corridors

State officials are sending more than $25 million in grant funds to support 13 businesses and commercial projects in the downtowns of Newark and Atlantic City.

Retail
Single-tenant retail property in downtown Westfield trades for $4.7 million, Marcus says

A local investor has acquired a nearly 36,000-square-foot retail property in downtown Westfield for $4.7 million, brokers with Marcus & Millichap announced Monday.

Finance & Capital Markets
G.S. Wilcox arranges $7 million refi for Union shopping center owner

The owner of a nearly 40,000-square-foot shopping center in Union Township has refinanced the property for $7 million, in a newly announced deal by G.S. Wilcox & Co.

Retail
KABR-led group adds 730,00 sq. ft. Long Island retail center, in JLL-brokered deal

A private investor has sold a nearly 730,000-square-foot shopping center in New York’s Nassau County, in a deal arranged by JLL’s Morristown-based capital markets team.

Cover Story
Downtown demand: Developer aims to bring highly coveted, high-end office space to Montclair business district

BDP Holdings has unveiled plans to bring new high-end office space to Montclair as part of a 130,000-square-foot ground-up project, seeking to capture the growing demand for space in downtowns that are easily accessed by the state’s skilled suburban labor pool.

Retail
Tokarski Millemann spearheads redesign, expansion of Lakewood Mazda dealership

An auto dealer has unveiled an expanded and updated sales and showroom facility in Lakewood as part of a project designed by Tokarski Millemann Architects.

Retail
Mexican eatery takes 900 sq. ft. at Pine Brook Plaza in Montville, Azarian says

A new Mexican restaurant has come to Montville after leasing space at a Route 46 shopping center, in a newly announced transaction by Azarian Realty Co.

Events
ULI Northern New Jersey unveils honorees for April awards gala

The Urban Land Institute’s Northern New Jersey chapter has announced the winners of its 2024 Excellence Awards, highlighting a host of projects and professionals involved in land use and development in the state.

Finance & Capital Markets
NAIDB: Morris, Middlesex counties shine in subdued capital markets environment

In a somewhat muted environment for commercial real estate investment, Morris and Middlesex counties were two bright spots in New Jersey in the second half of 2023.

Retail
Urban Edge leases 27,000 sq. ft. to Lidl for new store at Totowa power center

A new Lidl store is coming to Passaic County after leasing more than 27,000 square feet at Urban Edge Properties’ Totowa Commons complex on Route 46.