NEWARK, NJ—Weiss Realty arranged the $1.3 million sale of a single-story, 11,726-square-foot retail store at 262 Broad Street in Newark, NJ. Matthew Weiss of Weiss Realty represented the seller and Ryan Starkman of Pierson Commercial Real Estate represented Palestra Real Estate Partners in the acquisition. Acquired by an investor group managed by Jaime Weiss in 2017, the property was formerly owned and occupied by the La Furniture retail store and will now be developed into a DaVita Dialysis Center.

NEW YORK, NY—Newmark Knight Frank negotiated a new long-term, 10,820-square-foot lease for advisory and investment firm Threadstone Partners/ Marvin Traub Associates at 477 Madison Avenue in New York. An NKF team of senior managing director Larry Zuckerman and associate director Todd Hershman represented the tenant, while vice chairmen Brian Waterman and Scott Klau, managing director Joshua Gosin, and associate director Alexander Radmin represented ownership in the transaction. 477 Madison Avenue is currently undergoing a full repositioning, which will include a brand-new lobby, elevator cabs and mechanicals, and entrance on Madison Avenue. The renovations are expected to be completed by the end of April, with the new installation provided to the tenant reflecting the high-end standard of the freshly repositioned property.

STATEN ISLAND, NY—Triangle Equities, a New York-based developer, has leased approximately 7,000 square feet to a fresh food market offering healthy, affordable options, currently not found in the St. George area of Staten Island. The Lighthouse Point Market will service local residents and area businesses, as well as commuters of the nearby transit hub, including users of the Staten Island Ferry; the Staten Island Railway, the only commuter rail service on the island; and MTA bus services. Currently in construction, the market's opening is slated for Fall 2018. The market will join Regus' Spaces co-working office space concept as part of the three story 65,000 square foot commercial base of the forthcoming residential tower, all known as Lighthouse Point Phase 1. The development also includes a 300 car public parking garage available to market shoppers. The St. George neighborhood of Staten Island is currently defined as a “food desert,” by the United State Department of Agriculture, meaning that it's without ready access to fresh, healthy, and affordable food.

RIDGEFIELD PARK, NJ—A $1 billion town center planned for Ridgefield Park could break ground by spring 2018. The SkyMark Development Project is designed as a large, multi-use, phased development encompassing more than 53 acres of retail and residential uses. It includes a town center, a luxury high-rise and a hotel/conference center, as well as a 10-acre bald eagle habitat. The project, which has been moving forward since 2000, is located at the crossroads of the New Jersey Turnpike, Routes 46 and 80 and Overpeck Creek. It will consist of more than 1,500 residential units and 212,000+ square feet of retail space, and will be the largest mixed-use development in Bergen County in 30 years. Construction on the first phase of the development, in what is expected to be a multi-phase construction process, is expected to start in late spring. McManimon, Scotland & Baumann recently devised a series of real estate closings and related financing to enable SkyMark's acquisition of a 17-acre parcel of land, which completes SkyMark's parcel assemblage of the six parcels located in Ridgefield Park, scheduled for redevelopment and approved as the location for the project. These closings and financing build upon the firm's efforts to obtain certain redevelopment and land use approvals, including a redevelopment agreement and financial agreement (a.k.a. PILOT) with the Village of Ridgefield Park, a 20-year General Development Plan approval, and site plan and related approvals for the major roadway system for the project, including exit/entrance ramps to the New Jersey Turnpike, Route 80, Route 46 and a bridge over Route 46.

Money Moves

WEST ORANGE, NJ—The law firm of Chiesa Shahinian & Giantomasi named Jennifer Porter a member in its Real Estate, Development and Land Use Group. She will be based in the firm's West Orange, NJ, office. Porter brings more than 15 years of experience representing real estate developers and owners on development, zoning, land use, planning and permitting issues. Her zoning and land use practice extends uniquely to four states—New York, New Jersey, Pennsylvania and Connecticut. She has brought this experience to bear on the multi-state expansion of a national financial services firm resulting in the development of more than 85 new banking sites across the tristate area. A graduate of Pace University and Indiana University of Pennsylvania, Porter is licensed to practice in New Jersey, New York, Connecticut and Pennsylvania. She is an active member of the New York State Bar Association's Municipal and Real Property Law Sections; the New Jersey Bar Association's Land Use Law Section; the Connecticut Bar Association's Planning and Zoning Section; and the Pennsylvania Bar Association's Real Property, Probate & Trust Law Section. Before joining CSG, Porter served as a Director with a leading Newark-based, regional law firm.

PITTSBURGH, PA—The Pitt Business Real Estate Finance Academy, now in its second year, has partnered with global real estate firm JLL to offer students a series of industry workshops taught by the company's leaders. The Pitt Business Real Estate Finance Academy is part of the school's innovative, award-winning Professional Academies Program. The academies are designed to provide co-curricular professional development and networking opportunities in fields that are complementary to students' Bachelor in Science in Business Administration degree. Pitt Business also offers a Professional Sales Academytaught by corporate partners and plans to launch new academies in the 2018-19 academic year. Pitt Business Associate Dean Audrey J. Murrell told the students that, going forward, the school will link the Academy Program to the school's International Internship Program, which operates in cities around the world. JLL has offices around the world and operates in 80 countries, making them an ideal partner for this new component of the academies.