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Policy Page
A new way of doing things for 2020

My hope for 2020 is that our government officials will find the courage and willingness to tackle some thorny issues, including: overhaul New Jersey’s retirement and health care plans for state and school employees, consolidate school districts and remove barriers to allow regionalization of tax assessment, health services, municipal courts and fire and police services. If tackled, these measures will, over time, provide for better care and services to taxpayers while freeing up billions of dollars to invest in infrastructure, retraining and education programs and reducing the crushing tax burden on residents and businesses.  

Retail
Ripco named leasing agent for final phase of Pier Village retail space

Kushner Cos. has tapped Ripco Real Estate to oversee leasing and marketing for 40,000 square feet of retail space at Pier Village in Long Branch, as the well-known oceanfront development enters its third and final phase.

Government & Public Policy
EDA, NJIT announce new center for brownfields cleanup

The state Economic Development Authority is teaming with the New Jersey Institute of Technology to establish a new initiative aimed at helping local governments clean up and reposition brownfield sites within their borders.

Office
New Jersey office leasing slows at year-end, amid a decade of recovery

Smaller-sized leases continued to dominate New Jersey’s office market as 2019 came to a close, putting a drag on overall deal volume as larger transactions remained elusive.

Office
Investor taps CBRE as leasing agent at 331,000 sq. ft. Parsippany office building

The new owner of a 331,000-square-foot office building in Parsippany has named CBRE as its leasing agent, with plans to renovate the property after acquiring it late last year.

Finance & Capital Markets
PRC Group taps 3P Equity co-founders to lead new capital markets arm

The PRC Group has joined forces with the founders of a real estate investment firm, launching a new subsidiary focused on capital markets and expanding its development pipeline.

Residential & Mixed Use
Developer rebrands, highlighting iconic Kokes family name

A third-generation developer has rebranded his firm, highlighting his family’s well-known name in the industry as it seeks a more active role in ground-up construction projects.

Industrial
CBRE brokerage team touts $1.1 billion in New Jersey investment sales in 2019

A regional brokerage team with CBRE is hailing more than $1 billion in sales in 2019, highlighted by the $151.2 million trade of a nearly 320,000-square-foot logistics center in Secaucus.

Office
SJP, Scotto ink 110,000 sq. ft. lease with Deloitte for mixed-use redevelopment in Morristown

Deloitte LLP has agreed to lease 110,000 square feet in downtown Morristown, where it’s slated to anchor a high-profile redevelopment proposed by SJP Properties and Scotto Properties.

Office
LeFrak, Harbor Group close $372 million office sale in Jersey City, reports say

An investment firm has closed on its $372 million acquisition of a 22-story office tower in Jersey City, adding a high-profile waterfront property to its growing New Jersey portfolio.