Seeking to rebrand and reposition a well-known office tower in Newark, a landlord has tapped Cushman & Wakefield as its property manager at the 592,000-square-foot building.
On May 1, 2019, the City of Newark Municipal Council adopted Ordinance 18-1970 by a 7-0 vote amending several sections of the City’s Zoning Ordinance. This new ordinance permits medical marijuana alternative treatment centers, medical marijuana cultivation facilities, medical marijuana manufacturing facilities, and medical marijuana safety compliance facilities (collectively, the “Medical Marijuana Uses”) as conditional uses in specified zoning districts within the City.
A development group has nearly completed its restoration of a landmark tower in downtown Newark, where it will soon debut 265 apartments and a mix of new commercial space.
Having started my commercial real estate career in Newark, New Jersey in the late 1980s, I’ve had a front row seat to the evolution of The Brick City, and specifically the strides taken by the community toward enhancing the soul of the downtown area. What was once a city centered largely around Newark Penn station, the region has experienced new growth, particularly northward and westward toward the Broad Street corridor. Additionally, while improvements over the past two decades were slow, but steady, the past five years have seen a more intense ramp up in activity.
Developers are preparing to take the wraps off a new residential building in Newark’s North Ironbound section, having already leased nearly half of its 91 luxury apartments.
One Wall Partners, a Newark-based owner of transit-oriented workforce housing, has expanded its portfolio with the acquisition of nearly 1,000 apartments in eastern Pennsylvania.
A three-story industrial building off Interstate 78 in Newark has changed hands, following a sale brokered by the William F. Connors Agency.
RBH Group, the developer of the heralded Teachers Village project in Newark, is hoping to build on that success with a new investment fund under the federal Opportunity Zone program.