Leasing
NEWARK, NJ—In this week's Deal-Tracker, Winick Realty Group has leased 2,200 square feet for Chipotle Mexican Grill at 222 Market Street, part of the RockPlaza Lofts residential and commercial development in Newark, NJ. The deal makes Chipotle the first national quick service restaurant to open in Downtown Newark in decades, says Daniel Spector, NJ senior vice president and Winick founding partner. “This was a very neglected block in Newark and the developer, Fidelco Realty Group, completely changed the look and feel of the entire area,” says Spector. “The property has now been drawing interest from many highly-regarded retailers, including New Jersey's only Dinosaur Barbecue, which opened next door.” The new store is near Seton Hall University Law School and the Prudential Center sports arena, home of the New Jersey Devils.
Financial News
EDISON, NJ—Mack-Cali Realty Corporation and Winthrop Realty Trust say their joint venture to acquire mezzanine debt related to RFR Realty's 1.7-million-square-foot class A real estate portfolio in Stamford, CT, has been paid in full, giving the JV an 11.25% return. Mack-Cali and Winthrop acquired the note in February 2012.
Executive Moves
MALVERN, PA—Erin Plourde has been named vice president of acquisitions at Liberty Investment Trust. She provides Liberty regions with assistance and counseling regarding property acquisition and disposition. Plourde joined Liberty in 2004 as a senior accountant for development and became development controller in 2006. In 2011 Plourde was named director of acquisitions. Plourde holds a B.S. degree from Susquehanna University and an MBA in Finance from Villanova University in Villanova, PA. She is a NAIOP Industrial Acquisitions I Forum member and a CPA.
CEDAR KNOLLS, NJ — Maryalice Raushi has been named sales associate and executive vice president at Newmark Associates Inc. Raushi comes to Newmark from a 25-year career in banking, property management and real estate, including a term as president and director of a $20 billion bank owned by a Fortune 500 company. She also held senior positions at PNC Bank, Mellon Bank, Bank of America, Wells Fargo and a denovo bank. She holds an MBA in Finance from Fairleigh Dickinson University, where she is a member of its advisory board here and abroad at its campus in Oxfordshire, England at Wroxton College.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
