Page 5 - Vol.5 No. 7 July 2021
P. 5
EDITOR’S NOTE
PATIENCE
REWARDED
I’ve always respected the endurance of developers, especially for those complex, frustratingly difficult
projects that can take
a decade
or more to complete. New Jersey is full of them. Look no further than the redevelopment
of the former Muhlenberg Regional Medical Center campus in Plainfield, an effort that dates back to the hospital’s closure in 2008, when community leaders were faced with the prospect of repurposing a critical anchor institution.
Bill Colgan’s CHA Partners has been involved in that effort for much
of that time, starting in earnest in 2014. As you’ll read in this month’s cover story, the development firm
...June was a different kind of busy for all the
right reasons...
is basking in the debut of a new 120-unit apartment building at the site, not only because it marks a new chapter for the Muhlenberg campus, but also because it has struck a chord with renters. At press time, CHA had filled more than 90 percent of the building after the launch of leasing in mid-January, allowing it to look ahead to the next phase of its plan. That includes a 186,000-square- foot medical arts complex that will bring health care jobs back to the campus, helping to heal a community that is still scarred by the loss of the acute care facility.
“There were 1,100 people that worked at this hospital,” said Colgan, CHA’s managing partner. “When they closed the hospital, a community that was already hurting got impacted significantly.”
Our July issue also highlights Dartcor, a Whippany-based firm that offers high-end cafeteria menus, grab-and-go markets, pantries and coffee options for office buildings in New Jersey and neighboring states. Those services could be all the more important in the months ahead,
as employers look to bring their workers back to the office.
That topic is front and center in a separate story this month. According
to panelists at the recent Jersey City Summit, corporate occupiers have begun to weigh their post- pandemic options in markets such as the Hudson waterfront, driving an uptick in building tours and the prospect of new leasing activity. That’s a welcome sign for office landlords who have grappled with low occupancy, sublease space and rent deferrals since the height of the COVID-19 crisis.
It’s been a busy 16 months, pandemic and all, but June was a different
kind of busy for all the right
reasons. From one-on-one meetings and groundbreakings to good old fashioned networking events, I’ve
been able to reconnect with many
of you in person over the past few weeks. It couldn’t have come soon enough, as I’m sure many of you would agree, in an industry that
does in fact thrive on face-to-face contact. I’m looking forward to many more meetings and events through the summer and into the fall, when things will really ramp up. Until then, thanks for reading every month and every day on RE-NJ.com. Enjoy the issue!
Joshua Burd
Editor
josh@re-nj.com
From untouched.
To upscale.
When Tulfra Real Estate found this former 20-acre municipal site in North Haledon, they saw the hidden potential—a gem, waiting to be rediscovered. Together with The Hampshire Companies, the property was acquired and transformed into Molly Brook on Belmont—180 luxury apartment homes, complete with a
For more information please contact Sonny Jumani 201.587.9797 x327 | sjumani@tulfra.com | tulfra.com
A Tulfra / Hamphire Joint Redevelopment Project
REALESTATENJTM 3
