PLAINFIELD, NJ-Gebroe-Hammer Associates notes an uptick in Union County trades of multifamily buildings. One older complex here sold for $77,272 per unit.
New Jersey's aging building stock was in dire need of restoration even before Hurricane Sandy hit. Here's a look at property owners' efforts to not only rebuild in the aftermath, but also seek to secure the highest and best use for their assets to gain a competitive advantage.
BALA CYNWYD, PA-Keystone Property Group and Mack-Cali closed on the sale of 15 office buildings and three land plots to a joint venture company led by Keystone; meanwhile, New Jersey-based Mack-Cali will develop multi-family properties in Main Line suburbs.
SECAUCUS, NJ-The federal and state government will team up with NJ Transit to design an independent power grid that could keep trains running in the event of disaster.
FRANKLIN, NJ-The tallest office building in Somerset County, which has undergone a makeover after having been sold while entirely vacant, snagged a tenant for the top two floors.
JERSEY CITY, NJ-Marcus & Millichap is the bearer of more sobering news concerning the waterfront area office market: Vacancy is now over 30% in Hudson County.
ATLANTIC CITY-Eight casinos operated in the black in the second quarter, according to a new report, but profits for AC's dozen casinos as a group were down 45% compared to last year in the period.