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
JLL: Five retailers take 11,000 sq. ft. in Westfield, as remote workers boost foot traffic

A stretch of downtown Westfield is seeing a spike in retail leasing amid increased traffic from remote workers in the bedroom community, according to brokers with JLL.

Government & Public Policy
RPM lands $29 million Aspire tax credit for redevelopment of historic Trenton property

A plan to bring 120 new apartments to a historic property in Trenton is moving ahead with the help of more than $29 million in tax credits under the state’s Aspire program.

Retail
Event business leases 2,600 sq. ft. at Woodbridge strip center, Azarian says

An event company has taken more than 2,600 square feet at a Woodbridge shopping center, in a newly announced deal by Azarian Realty Co.

Office
Hoboken: Boutique office building now fully leased after acquisition by Maridian Properties

The owner of a historic office and retail building in Hoboken has brought it to full occupancy, following its recent acquisition and renovation of the nearly 23,000-square-foot property.

Retail
Burlington takes 25,000 sq. ft. at Ramsey shopping center, Welco says

A new 25,000-square-foot Burlington store is coming to a Ramsey shopping center, under a newly announced transaction by Welco Realty Inc.

Retail
ShopRite debuts at new-look Fair Lawn retail center, following deal arranged by RIPCO

A new ShopRite has opened its doors off Route 208 in Fair Lawn, where it anchors a redeveloped retail property owned by Crossroads Cos.

Retail
Newmark Associates: Investor adds 12,000 sq. ft. retail, office property in Mountain Lakes

A private investor has purchased a 12,000-square-foot retail and office property in Mountain Lakes, in a transaction arranged by Newmark Associates.

Finance & Capital Markets
JLL: S. Hekemian Group lands financing for retail, surgery center project in Montvale

The S. Hekemian Group has secured financing for a project that will bring more than 84,000 square feet of medical and retail space to a sweeping redevelopment site in Montvale.

Event Coverage
Panel: Newark remains a land of opportunity for housing, business — despite long-term hurdles

Optimism is nothing new in Newark, with its rich transportation network, cultural institutions and key anchors in business, health care and academia. But the city still struggles with poverty, education challenges and other barriers that have kept it from blossoming alongside places such as Jersey City, Hoboken and other urban markets, despite billions of dollars in new investment. Panelists said as much last week during Real Estate NJ’s Newark Redevelopment Update, as they debated those challenges and how to unlock the city’s long-held potential.

Government & Public Policy
Scotch Plains taps Woodmont as conditional redeveloper in long-awaited downtown project

Scotch Plains has designated Woodmont Properties as the conditional redeveloper for more than nine acres in its downtown, following a multiyear search aimed at jumpstarting a long-awaited plan for the central business district.