Cover Story
Russo Development is bullish on Kearny — and the ability to tap an underserved market

Russo Development has delivered more than 500 apartments in Kearny since mid-2018, with hundreds more in its pipeline, seeing an opportunity in a town that is minutes from downtown Newark and the ability to capture renters who are priced out of neighboring submarkets.

Industrial
Russo, Forsgate break ground on massive Meadowlands logistics park

Two of New Jersey’s best-known multigenerational development firms have broken ground on a long-awaited project in the heart of the Meadowlands, one that will bring more than 3 million square feet of high-end industrial space to a site that is five miles from the Lincoln Tunnel.

Residential & Mixed Use
Russo delivers first phase of 1,250-unit rental project in Union

Russo Development has opened the doors to the first piece of what will be more than 1,200 luxury apartments adjacent to Kean University and the Union train station.

Top News
Russo launches construction on third Kearny residential project

Russo Development has embarked on its third residential property in Kearny, hailing the start of a 268-unit project at the former site of baseball bat factory.

Finance & Capital Markets
JLL sources $11 million loan for Totowa data center

Russo Development has secured $11 million in financing for a single-tenant data center in Totowa, in a newly completed transaction by JLL.

Events
March of Dimes honors Johnson, raises $375,000 (SLIDESHOW)

More than 200 members of New Jersey’s commercial real estate sector turned out to honor Christopher Johnson of Hollister Construction Services, raising more than $375,000 for an annual event hosted by the March of Dimes North Central New Jersey.

Industrial
Russo, Forsgate close on Meadowlands site slated for 3 million sq. ft. industrial park

Russo Development and Forsgate Industrial Partners have completed their purchase of a 718-acre tract in Bergen County, paving the way for more than 3 million square feet of new high-end industrial space in the heart of the Meadowlands.

Residential & Mixed Use
Developers eye summer groundbreaking for redevelopment of ex-Record site in Hackensack

A joint venture’s plan to redevelop the former home of The Record in Hackensack is moving forward, under a plan that calls for 650 apartments and retail space along the Hackensack River.

Retail
Russo inks leases with Chipotle, Panera at mixed-use Union project

Two well-known quick service restaurants have signed on to Russo Development’s new mixed-use project in Union, where the first retailers and residents are expected to arrive this summer.

Finance & Capital Markets
Wilcox, Thrivent close $170 million in loans for New Jersey apartment and industrial deals

G.S. Wilcox & Co. is touting $170 million in recent loan activity with one of its correspondent lenders, including $100 million for two northern New Jersey apartment developers.