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.

Residential & Mixed Use
Connell details plans for new residential, retail phases at landmark Berkeley Heights campus

The Connell Co. has unveiled new details of a plan to transform its flagship business park in Berkeley Heights, having secured approvals to add more than 300 apartments and a sprawling entertainment, dining and retail space across five new buildings.

Retail
Goldstein Group: Salon studio comes to Midland Park, leases 7,500 sq. ft.

A salon studio chain has leased 7,500 square feet at a long-vacant commercial building in Midland Park, in a newly announced deal by The Goldstein Group.

Professional Services
JRM serving as general contractor for Ferrari North America renovations in Englewood Cliffs

Ferrari North America has tapped JRM Construction Management as its general contractor for an overhaul of its longtime facility in Englewood Cliffs.

Retail
Becker affiliate sells 30,000 sq. ft. Mount Laurel retail asset for $4.9 million, C&W says

An affiliate of The Becker Organization has sold a 7-Eleven-anchored retail property in Mount Laurel for $4.9 million, in a deal arranged by Cushman & Wakefield.

Retail
Med spa concept taps R.J. Brunelli as broker for central, southern New Jersey region

Franchise brand VIO Med Spa has picked R.J. Brunelli & Co. LLC as its exclusive real estate broker for new locations in central and southern New Jersey and the Philadelphia area.

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.