morristown – Real Estate NJ

Bearing fruit

I’m as guilty as anyone of overusing words like “transformative” when it comes to major redevelopment projects. But it seems in some instances like there’s no avoiding it. A case in point is a plan for Woodbridge’s Metropark train station, where surface parking lots will become a new office and ambulatory care center spanning nearly 250,000 square feet, as well as 235 luxury apartments and retail space. If you ask me, that seems transformative enough.

Our cover story this month is a deep dive on that project, which Hackensack Meridian Health unveiled in early March alongside Gov. Phil Murphy and a team that includes Russo Development, Onyx Equities and Dinallo Development.

Government & Public Policy

Morristown, Silverman Group reach $5.5 million settlement in lawsuit over scuttled Deloitte deal

Morristown will pay $5.5 million to settle a lawsuit with the Silverman Group after the developer alleged the mayor thwarted a deal to bring Deloitte LLP to one of its properties, instead steering the accounting giant to its eventual home at the M Station campus.

Retail

ULI awards showcases the best in land use, redevelopment while highlighting ongoing challenges in New Jersey (SLIDESHOW)

Th Urban Land Institute’s Northern New Jersey chapter hosted its largest event of the year, honoring projects, professionals and companies in nearly 20 categories as recipients called for continued cooperation between developers and policymakers.

Events

United Way reveals commercial, industrial award finalists for annual real estate luncheon

United Way of Northern New Jersey has unveiled the finalists for its commercial real estate awards next month, part of a program that will mark its 25th year of partnering with industry executives for the organization’s largest annual fundraiser.

Making connections: How Morristown’s HQ Plaza will engage residents, visitors with new public-facing spaces

The renovation of Morristown’s landmark Headquarters Plaza will look to energize the sprawling concourse that connects three office towers, a Hyatt Regency hotel and a host of retailers and restaurants under the roof of the 1 million-square-foot complex. Not to be overlooked is the idea that the refreshed property will also engage the community in a way that it hasn’t in decades, taking cues from the town’s other recent redevelopment projects.

Professional Services

Bravo, Kamath among newest additions to AMHigley’s Morristown team

The Albert M. Higley Co. has continued its expansion in New Jersey with several recent hires on its Morristown-based team.

Professional Spotlight

Riker Danzig

Riker Danzig’s commercial real estate lawyers serve as counsel to, and understand the varying needs of, a wide variety of clients, from publicly traded companies to international lending institutions to midsized developers to community banks, in sophisticated leasing (office, retail, warehouse and tech start-up), acquisitions, loans, construction contracts and all aspects of development projects.

JLL: More moves ahead for life sciences firms seeking higher-end space in New Jersey

New Jersey’s life sciences sector is poised for continued growth in 2024, following a year in which the industry was a key source of demand for commercial real estate owners.

Office

Olnick, Fisher unveil plan to transform concourse at Headquarters Plaza in Morristown

The owners of Morristown’s Headquarters Plaza have unveiled their plans to refresh the 1 million-square-foot property, with a focus on the cavernous interior concourse that connects its three office towers, the Hyatt Regency Morristown and a host of retailers and restaurants.

Professional Services

Environmental attorney Kettler among newest promotions at Riker Danzig

Riker Danzig LLP has elevated Michael S. Kettler of the firm’s environmental law group, in one of several newly announced promotions on its Morristown-based team.