Residential & Mixed Use
NJPAC taps Lizura to lead development efforts in Newark

Tim Lizura, a former longtime top executive with the state Economic Development Authority, has joined the New Jersey Performing Arts Center to oversee the development of the land around the downtown Newark venue.

Industrial
HFF: Newark industrial parcel sells for $8.2 million

A developer has paid more than $8 million for a 4.5-acre parcel near Newark Liberty International Airport, where it now plans to build an 80,000-square-foot industrial building.

Finance & Capital Markets
Developer secures LIHTC financing for 84-unit Newark project, Day Pitney says

A developer is tapping into the federal Low Income Housing Tax Credit program as part of a planned 84-unit, mixed-income rental project in Newark, in one of several recent transactions announced by Day Pitney LLP.

Residential & Mixed Use
NJPAC, city leaders hail One Theater Square’s opening in downtown Newark

Stakeholders gathered Wednesday to mark the opening of a new 22-story residential tower in downtown Newark, the city’s first ground-up luxury high-rise in more than 50 years and the first tangible piece of a plan to develop the property around the New Jersey Performing Arts Center.

Professional Services
Two N.J. law firms detail plans to combine under MS&B banner

Two New Jersey law firms are joining forces to create a team of more than 50 attorneys and what it says will be a wide-ranging legal practice.

Top News
Rutgers reveals latest group of advisers, emerging leaders for real estate program

The Center for Real Estate at Rutgers Business School has unveiled this year’s group of board members and industry leaders that will guide the program and its students.

Retail
JLL: Newark hotel inks leases with seafood eatery, recruiting center

A local seafood restaurant and a U.S. Army recruiting center will be among the newest retail tenants at a hotel next to the Prudential Center in Newark, according to JLL.

Sponsored Content
Transit hub markets speed away from competition

Office buildings within the state’s transit hub market record lower vacancy rates and higher rents compared to suburban spaces, according to JLL’s annual research report. Companies continue to pursue office space in proximity to walkable amenity-rich areas and with access to mass-transit options for their workforces and clients.

Office
JLL: Transit hub office clusters still shine, despite 2017 hiccup

For all of the appeal of having office space near a train station, eight of New Jersey’s best-known “transit hub” submarkets took a collective step back in 2017, although they continue to stand apart from the state’s suburban highway corridors.

Residential & Mixed Use
Newark housing complexes slated for $170 million rehab

An investment group has set out to revitalize two public housing complexes in Newark that city officials say are nearly uninhabitable, with plans to spend more than $170 million on the project and the full financial backing of the state.