Industrial
Kearny industrial building trades for $21 million, Marcus says

An investor has acquired a 135,000-square-foot industrial building in Kearny for more than $21 million, in a newly announced transaction by Marcus & Millichap.

Retail
JLL: Investor buys Newark retail property, would-be redevelopment site for $9 million

A private investor has acquired a retail property in downtown Newark, brokers with JLL announced, touting a potential redevelopment opportunity in a growing section of the city.

Residential & Mixed Use
Developers plan 21-unit apartment building in Hackensack Opportunity Zone

A joint venture is proceeding with plans for a 21-unit apartment building in Hackensack after recently securing planning board approval for the project.

Government & Public Policy
New grants for New Jersey towns, cities could boost redevelopment opportunities

Business leaders are cheering the passage of a new economic development incentives law in New Jersey, following a two-year battle in Trenton and the added uncertainty of the pandemic. Yet some stakeholders are pointing to a far less heralded, less contentious piece of the New Jersey Economic Recovery Act as a key tool for spurring new investments around the state.

Government & Public Policy
Flemington taps global consulting firm, launches downtown revitalization plan

Armed with a $100,000 state grant, the borough of Flemington is taking new steps to draw private development and community-focused investment to its historic downtown.

Government & Public Policy
Relaxed deadlines could bring new attention, momentum to Opportunity Zone projects

The COVID-19 pandemic has threatened to stall many development projects nationwide, including those under the federal Opportunity Zone program, but experts say those investments could gain new momentum after a series of recent steps by regulators.

Finance & Capital Markets
Meridian: Buyer wanted for new Opportunity Zone rental building in Hackensack

A newly built, 88-unit apartment building has hit the market for sale in downtown Hackensack, where brokers are touting several key tax benefits for a would-be buyer.

Government & Public Policy
EDA opens application period for Opportunity Zone grant program

The state Economic Development Authority has begun accepting applications for a new grant program seeking to help municipalities and counties draw investors to federally designated Opportunity Zones.

Residential & Mixed Use
Buyer wanted for two-tower, 594-unit Newark development site, Meridian says

Brokers with Meridian Capital Group are seeking a buyer for a development site in downtown Newark, one that is fully approved for nearly 600 high-end apartments across two towers.

Residential & Mixed Use
C&W: Buyer wanted for 126-unit rental project at historic Hackensack site

An investment group is seeking a buyer for what will become a two-building, 126-unit luxury apartment complex at the site of a historic bank tower in Hackensack.