FRANKLIN TOWNSHIP, NJ-A piece of land here that town authorities say can be developed for any non-residential use was sold to an out-of-state developer.
PARSIPPANY, NJ–The state's wan office market had a surprisingly strong 4th quarter in 2013 - especially in Parsippany - according to CBRE, which predicts more good things for Q1 2014.
HOBOKEN, NJ–New York City-based Argo Development sold its first New Jersey apartment development to LaSalle Investment Management for $36 million. The 59-unit complex is fully leased.
MT. ARLINGTON, NJ–As competition among lenders for multifamily properties heats up, Mark Scott's Commercial Mortgage Capital arranged for the buyer of the Carriage Club here to assume a $14.3 million Freddie Mac loan.
PHILADELPHIA–Investment brokers from Gebroe-Hammer Associates tell GlobeSt.com there is very strong demand in this metropolitan area for multi-family buildings that can be improved to generate higher rents.
UNION CITY, NJ-Summit-based Diversified Realty will build housing at a site it bought from EnviroFinance Group to be part of a developing Transit Village around the rail station here.
EDGEWATER, NJ-The developer of the ritzy St. Moritz apartments here, who was beaten and robbed of $2 million in valuables at his penthouse there last fall, has sold the building for $120 million.
EDGEWATER, NJ–In its first acquisition of a multi-family building in the US, an Israel-based firm has bought a new-construction project here for $48 million. Clal Insurance intends to build a significant East Coast apartment portfolio, its Manhattan office CEO EXCLUSIVELY tells GlobeSt.com.
SOUTH ORANGE, NJ-"Green" multi-family developer Jonathan Rose Cos. has begun work on a mixed-use apartment complex in this borough's downtown area near the train station.