newark – Real Estate NJ

MSW’s Garlick named partner, vice chair of land use, zoning and redevelopment practice

Murphy Schiller & Wilkes LLP has announced a new partner, elevating Thomas S. Garlick while naming him to leadership roles with two key practice areas.

Events

Newark Summit returns Feb. 9, with all-star panels and more than 1,200 slated to attend

Business leaders will descend on New Jersey’s largest city in less than a month as the Newark Summit for Real Estate, Economic Development & Placemaking returns for a third year.

Retail

CBRE: Restaurant, lounge leases 4,200 sq. ft. at restored Kislak Building in Newark

A new eatery is coming to downtown Newark after taking space at a historic commercial building that’s now home to high-end apartments, in a deal arranged by CBRE.

Industrial

Deugen, Devli lease Port Newark industrial site to major seafood company, AI Group says

A joint venture has landed a tenant for a nearly seven-acre industrial site in Newark’s port district, in a deal arranged by Advance Industrial Group and The Blau & Berg Co.

Finance & Capital Markets

SK, Berger land $250 million in financing for 396-unit Newark rental project, W&D says

A joint venture’s plan to bring nearly 400 new apartments to downtown Newark is advancing with more than $250 million in capital commitments arranged by Walker & Dunlop.

Developer, public officials break ground on $125 million Lionsgate film studio in Newark

Construction is underway on a project that will bring Lionsgate to a new studio campus in Newark while bringing new life to a former public housing complex in the South Ward.

Cover Story

Culture campus: Newark Museum update marks latest milestone as $100 million mixed-use project takes shape around it

New Jersey’s oldest museum has undergone a significant upgrade, solidifying its commitment to serve as a dynamic cultural hub for the region and beyond. It also is considered the cornerstone of the $100 million, blended-use project that’s poised to link two downtown neighborhoods.

Editor’s Note

Building momentum

The Museum Parc project is now taking shape around The Newark Museum of Art, as you’ll read in this month’s cover story, as a development team constructs two new buildings with a combined 250 mixed-income apartments, ground-floor retail and additional cultural spaces such as a vibrant, glass-enclosed gallery. The construction along Central Avenue is now about 50 percent complete, as anticipation builds for full delivery in early 2027.

Office

NJ Transit, Horizon exploring plan to redevelop Newark office sites and build new 250,000 sq. ft. headquarters for health insurer

The site of two office buildings in downtown Newark could become up to 1,000 apartments and retail space under a proposal that involves the prospect of a new ground-up, 250,000-square-foot headquarters for Horizon Blue Cross Blue Shield of New Jersey.

Residential & Mixed Use

J&L inks lease with Alpha Fit Club to bring fitness studio to new Ironbound rental property

A new boutique fitness studio is coming to Newark’s Ironbound section after taking space at Fifty-Five Union, the 403-unit upscale multifamily property developed by J&L Cos.