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People
NAI Hanson hires associate for Bergen County sales team

By Joshua Burd NAI James E. Hanson has added to its brokerage team with the hiring of a new associate. The real estate services firm announced Wednesday that David M. Ukleja has joined its Teterboro office. In the new role,…

Finance & Capital Markets
HFF: Accordia recaps, buys out partner at Fairfield office building

A longtime partner in a Fairfield office building has assumed full ownership, thanks in part to more than $27 million in financing arranged by brokers with HFF.

Professional Services
LAN announces new director of architecture in New Jersey

LAN Associates has named a new director of architecture for New Jersey as part of the leadership team for the Midland Park-based firm.

Government & Public Policy
Incentives: A look at Murphy’s plans to streamline, cap subsidy programs

Gov. Phil Murphy detailed his plans to update the state’s incentive programs, speaking Wednesday during an event in Jersey City. — Courtesy: Edwin J. Torres/Governor’s Office By Joshua Burd After lashing out at New Jersey’s high-profile tax credit incentives, Gov.…

Industrial
Stro hires new COO, general counsel

The Stro Cos. has made a new addition to its executive leadership team to help support its quickly expanding portfolio.

Government & Public Policy
Hampshire acquires Hackensack site, its first Opportunity Zone investment

The Hampshire Cos. has made its first investment under the federal Opportunity Zone program, acquiring a parcel near Hackensack University Medical Center that it will redevelop as part of a joint venture.

Finance & Capital Markets
Edison warehouse buyer lands $41.5 million acquisition loan, HFF says

549 Mill Road in Edison — Courtesy: HFF By Joshua Burd HFF has announced more than $41 million in acquisition financing for a joint venture’s recent purchase of a fully leased, 507,000-square-foot industrial building in Edison. Debt brokers with the…

Retail
South Orange restaurant, liquor license trade for $2.8 million

19 Valley St. in South Orange — Courtesy: The Kislak Co.Inc. By Joshua Burd An investor has acquired a well-known restaurant property and a liquor license in downtown South Orange, where a new operator is set to open following the…

Government & Public Policy
Developers, state officials face dual task with Opportunity Zone projects

Amid the rollout of the new federal Opportunity Zone program, developers and public officials are trying to balance two key objectives: Identifying shovel-ready projects — allowing investors to maximize the tax benefits of the law — and steering capital to low-income areas that weren’t already attracting investment and may have higher barriers to entry. The state believes it can check both boxes with the right coordination and by layering in the subsidies that have helped revitalize many of New Jersey’s cities and downtowns.

Roundtable
Where have commercial real estate investors and lenders found unexpected (or lesser-known) opportunities in 2018?

Where have commercial real estate investors and lenders found unexpected (or lesser-known) opportunities in 2018? We assembled a panel of industry experts to tackle our recent roundtable question.