A local investor has acquired a nearly 36,000-square-foot retail property in downtown Westfield for $4.7 million, brokers with Marcus & Millichap announced Monday.
New Jersey Future has unveiled the winners of this year’s Smart Growth Awards, highlighting projects from Paterson to Westfield with a major focus on planning and redevelopment.
Westfield has set the stage for more than $400 million in mixed-use redevelopment that town leaders say will revitalize their business district and serve as a model for other mature suburbs, with hopes of breaking ground early next year despite opposition by some residents.
A stretch of downtown Westfield is seeing a spike in retail leasing amid increased traffic from remote workers in the bedroom community, according to brokers with JLL.
Local officials in Westfield have cleared the way for the Hudson’s Bay Co. to redevelop a vacant Lord & Taylor site and several adjacent blocks downtown, with plans calling for more than 300,000 square feet of office space and some 200 residential units.
A meal delivery business has acquired a 1,500-square-foot commercial building in Westfield for $650,000, in a newly announced deal by Sheldon Gross Realty.
TFE Properties LLC has purchased a former bank building in downtown Westfield that in recent years has been home to an Urban Outfitters store, the firm announced.
Hudson’s Bay Co. has unveiled a plan to transform the site of a vacant Lord & Taylor building in downtown Westfield and several adjacent blocks, with a proposal that includes nearly 340,000 square feet of office and retail space and more than 200 residential units.
