Hartz Mountain Industries launched leasing at Fairways at Cranford, a new 250-unit luxury apartment property at 750 Walnut Ave. in Cranford, in early 2025. — Rendering courtesy: Hartz Mountain
By Joshua Burd
Hartz Mountain Industries has rented more than 70 percent of a new 250-unit rental property in Cranford, citing continued demand for upscale apartments and sustained headwinds in the for-sale housing sector.
The project, Fairways at Cranford, hit the market early this year after the firm redeveloped the site of an aging office property at 750 Walnut Ave. Along with Greystar, its leasing team, the developer said it was seeing accelerated absorption despite early signs of renewed intertest in single-family homes.
Hartz noted that, while easing interest rates have reactivated buyer interest statewide, starter homes remain scarce. It also pointed to price appreciation over the past several years, which has pushed required down payments higher and made ownership increasingly difficult to access.
“As market conditions evolve, renters are prioritizing choice and predictability,” said Gus Milano, president and chief operating officer of Secaucus-based Hartz. “Fairways at Cranford offers a modern housing solution at a time when limited entry-level inventory and higher upfront costs are keeping many would-be buyers in the rental market. The pace of leasing confirms that this product is meeting a clear market need.”
Located adjacent to Hyatt Hills Golf Course, Fairways at Cranford has a mix of luxury one- and two-bedroom units and amenities such as a fitness center, a resident lounge, landscaped outdoor areas and on-site parking. Minno & Wasko Architects and Planners designed the community, which was built by March Associates Construction.
“Interest-rate movement is only part of the story,” Greystar’s Gino Blanco said. “Limited starter-home supply and higher capital requirements are pushing many residents toward new construction rentals. Fairways’ lease-up aligns closely with what we’re seeing across New Jersey’s multifamily pipeline.”
Hartz completes Cranford rental project, marking transformation of ex-office property
