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.

Health Care & Education
EDA approves $271 million tax credit for massive health, life sciences campus in New Brunswick

The state has approved a $271 million tax credit for a plan to build more than 570,000 square feet of research and academic space in downtown New Brunswick, including a new home for the state’s flagship medical school and facilities for startups and entrepreneurs.

Retail
Marcus: Investor buys 138,000 sq. ft., grocery-anchored center in Vineland for $19 million

An investor has sold a grocery-anchored shopping center in Vineland for $19.3 million, in a newly announced deal by Marcus & Millichap.

Finance & Capital Markets
JLL: Levin Properties refis ShopRite-anchored center in Woodbridge for $43 million

The owner of a ShopRite-anchored retail center in Woodbridge has refinanced the property for more than $43 million, according to a debt placement team with JLL.

People
Bazzani joins JDA Group as development, investment manager

JDA Group LLC has named a new development and investment manager, hiring a former member of Duke Realty Corp.’s New Jersey team to help support its growth.

Retail
Unity Bank debuts 1,900 sq. ft. Fort Lee branch

Unity Bank has opened its 20th branch with a new full-service location in Fort Lee, increasing its service footprint and boosting its retail presence in Bergen County.

Retail
Convenience store takes 3,300 sq. ft. in Middlesex, Boniakowski says

A convenience store operator has leased a 3,250-square-foot, freestanding building in Middlesex Borough, in a deal arranged by The Boniakowski Commercial Real Estate Group.

Office
Edron Realty sells 45,000 sq. ft. micro-office building in Elizabeth, Gebroe-Hammer says

The longtime owner of a 45,000-square-foot mixed-use building in downtown Elizabeth has sold the property, according to a brokerage team with Gebroe-Hammer Associates.

Featured
History, legacy in focus as Hanson family marks 100 years in commercial real estate

A century of New Jersey commercial real estate history took center stage last month, as three generations of the Hanson family gathered to mark its 100th anniversary in the industry.

Finance & Capital Markets
JLL sources $250 million credit facility on behalf of Hampshire retail, self-storage REIT

Affiliates of The Hampshire Cos. have secured a $250 million credit facility for a real estate investment trust focused on retail and self-storage properties, brokers with JLL announced.

Retail
CBRE touts completion of 60 net-lease deals in 2022 by Mid-Atlantic team

Demand for net-leased investment properties is holding strong in the region, despite climbing interest rates, following a healthy year by a CBRE brokerage team focused on the asset class.