Finance & Capital Markets
KRE, National ink $258 million loan for Journal Squared phase two

Kushner Real Estate Group and National Real Estate Advisors LLC have closed on $258 million in construction financing for the second phase of Journal Squared, their high-profile mixed-use development in Jersey City’s historic Journal Square neighborhood.

Editor’s Note
New year, new optimism

Among those of you who shared your predictions for 2019, the worst thing I heard was “I’m not sure yet.” And if uncertainty is the worst thing we have in the year ahead, I think we’re well-equipped to take our chances. In the interim, we’re thrilled to begin our third full year of Real Estate NJ, the only New Jersey-based publication dedicated exclusively to commercial real estate.

Residential & Mixed Use
Mack-Cali to acquire new Jersey City apartment complex, Metropark office tower

Mack-Cali Realty Corp. is in talks to acquire one of Jersey City’s newest luxury residential properties while adding to its office holdings in the Metropark submarket, the latest among several transactions announced Thursday by the real estate investment trust.

Industrial
HFF: Avidan, Elberon add 135,000 sq. ft. warehouse in Jersey City

A joint venture has acquired a vacant, 134,500-square-foot warehouse just off the New Jersey Turnpike extension in Jersey City, in a newly announced transaction by HFF.

Finance & Capital Markets
New York Life inks $31 million loan for Jersey City office building

Hartz Mountain Industries has landed $31 million in financing for a well-known office building on the Hudson waterfront, thanks to a loan provided by New York Life Insurance Co.

Residential & Mixed Use
KRE Group, Lyft announce partnership at new Jersey City rental building

Kushner Real Estate Group has named Lyft as its official ride-share partner at a new luxury apartment building in Jersey City, providing residents with discounted fares and other perks.

Retail
LMC: Four new tenants set to open at upgraded Jersey City retail center

A shopping center at the southern edge of Jersey City is set to welcome four new tenants in the coming months as part of an ongoing effort to reposition the property.

Industrial
Mack-Cali sells Westchester industrial park for $70 million

Mack-Cali Realty Corp. has reaped more than $70 million from the sale of a six-building industrial park in Westchester County, New York, its latest move to exit the flex warehouse business as it focuses on the Hudson waterfront in New Jersey.

Government & Public Policy
EDA approves $14.7 million incentive for proposed Gucci call center in Jersey City

The state has approved a 10-year, $14.7 million tax credit to encourage luxury fashion giant Gucci to open a new 52,000-square-foot call center on the Jersey City waterfront.

Residential & Mixed Use
Fields: Jersey City apartment building nearly 70 percent leased

Renters are flocking to a new apartment building in Jersey City’s Paulus Hook neighborhood, where Fields Development Group has leased nearly 70 percent of its 153 units.