Developers say the future of retail is now on display in Roxbury, where Advance Realty Investors has transformed an aging, enclosed mall into a 450,000-square-foot, open-air destination with centralized parking and a new Walmart Supercenter as its anchor.
The state’s commercial real estate sector renewed its support of the United Way of Northern New Jersey, raising more than $250,000 in a program that showcased plans to transform Newark’s flagship office complex, while recognizing a top broker with JLL.
A development team has secured a nearly $43 million construction loan for the second phase of a 3.2 million-square-foot industrial park project in Logan Township.
A logistics firm has leased more than 480,000 square feet of industrial space in Linden, filling one of two newly completed buildings at a planned 4.1 million-square-foot development.
Advance Realty Investors has welcomed seven new retailers at a 450,000-square-foot, open-air center at the site of a former mall along Route 10 in Roxbury.
After treading lightly for much of the past year, institutional investors appear poised to accelerate their commercial real estate spending in 2021. New Jersey and other suburban markets could benefit in the near term as buyers await the return of New York City — especially in an apartment sector that is regaining its footing after stumbling during the pandemic.
Advance Realty Investors has welcomed a Mexican fast casual eatery as the latest tenant at a new 108,400-square-foot retail center in Paramus.
Owners of contaminated property in New Jersey may soon have a new financial tool at their disposal as they remediate the sites and prepare them for potential redevelopment.
It may be the Mile Square City, but Hoboken still has room to grow. After creating mixed-use projects in the largely industrial western half, developers are focusing on the city’s northwestern corner, known as the North End. City officials are in favor of the growth, with a North End Redevelopment Plan in progress that focuses on a diversified tax base, open space and flood-resistant infrastructure.