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CONTENTS
4
10 16
24
26 29
Departments
The Briefing
Denholtz eyes $60 million redevelopment at Fort Monmouth, plus other top stories in commercial real estate
Deal Sheet
A roundup of CRE leases, sales and financing
Roundtable
How can the New Jersey real estate sector prepare for the launch of legal recreational marijuana?
Policy Page
Jersey’s comeback must be sustainable, reflective of migrations and crises
People on the Move
New hires and executive moves
Project Updates
JRM touts newly completed overhaul of Piscataway office building
ON THE COVER: Connell Realty & Development Co., the developer and longtime owner of Connell Corporate Park in Berkeley Heights, is in the midst of a sweeping, $400 million improvement and expansion of the 185-acre property, one that will create new apartments, restaurants, entertainment and upscale park space by 2023.
12 Creating Connections
Connell looks to build community hub, workplace
of the future at Berkeley Heights office park
18 Moving Forward
PRC Group, local officials working to advance
long-awaited redevelopment in Hightstown
20 Policy Push
Industry leaders join forces to secure new insurance option for environmental cleanups
22 Built to Last
Diverse project pipeline, decades of experience remain key to Rotwein+Blake’s success
REALESTATENJTM 1
Features
NOVEMBER 2020
COUNT ON OUR CAPITAL. BUILD YOUR BUSINESS.
Walter Sierotko, EVP 732.726.5420
TOTAL TEAM
LENDING
COMMITMENT YOU CAN COUNT ON.SM
RECENTLY FINANCED
$18,000,000 $16,500,000 $8,900,000
INDUSTRIAL CONSTRUCTION LOAN OFFICE BRIDGE LOAN OFFICE/RETAIL CONSTRUCTION PERMANENT LOAN
PISCATAWAY, NJ RED BANK, NJ SUMMIT, NJ
www.Provident.Bank