NEWARK, NJ—The Aspen Companies has acquired a 50-unit HUD supported apartment building in downtown Newark, NJ for $3 million and says it will make 'aggressive' capital improvements to the property.
HARRISON, NJ—NorthMarq Capital's New Jersey based regional office closed a $16.9 million 30-month construction loan for the Cookie Factory, a 104-unit multifamily property to be built on Essex Street in Harrison, NJ.
RUTHERFORD, NJ—NAI James E. Hanson has completed a lease renewal on behalf of the Meadowlands Chamber of Commerce at Meadows Office Complex, located at 201 Route 17 North in Rutherford, NJ.
EDGEWATER, NJ—Mark Scott's Commercial Mortgage Capital has closed a $20 million senior secured construction loan for Phase 2 of the highly successfully Pearl condominium in Edgewater, NJ. CMC also previously arranged a $35-million Phase 1 loan for the project, which is now over 50% sold.
CHERRY HILL, NJ—Wolf Commercial Real Estate completed three lease transactions bringing new tenants to the Colwick Business Center. The Center features three single story office buildings owned and managed by an affiliate entity of Endurance Real Estate Group LLC.
WOODLAND PARK, NJ—The New Jersey chapter of NAIOP focuses a major part of its resources advocating rational approaches to statewide economic issues like affordable housing and the Transportation Trust Fund, its president, Michael Allen Seeve, tells GlobeSt.com exclusively.
JERSEY CITY, NJ—Executives from North Carolina-based Concord Hospitality Enterprises and Jersey City Mayor Steven Fulop ceremonially autographed an 800-lb. support beam to start construction on a 258-room Hyatt House hotel in the Exchange Place district of Jersey City.
HACKENSACK, NJ—Joel H. Hammer of Syosset, NY, has joined real estate development firm Alfred Sanzari Enterprises as executive vice- president/chief financial officer.
HACKENSACK, NJ—Pashman Stein PC, one of New Jersey's leading commercial litigation firms, according to U.S. News & World Report and Best Lawyers, is relocating and nearly doubling its headquarters space at Court Plaza in Hackensack, NJ.
MT. LAUREL, NJ—WCRE represented Somerset Properties' LSOP NJ LLC to complete a new 10,000-square-foot lease expansion for Virtua Health Inc. at 2000 Crawford Place, in the Horizon Corporate Center. With this expansion, Virtua increases its occupancy at the property to 28,650 square feet. The single story, multi-tenant building is now 88% occupied, with only two suites remaining for lease.
