“Shelbourne recognized this as an excellent value-added play with the strong upside potential of below-market rental rates and available space,” said Cushman & Wakefield's David Bernhaut.
MIDDLETOWN, NJ—National Realty is developing The Shoppes at Middletown retail center, anchored by a Wegman's store, but designed as a destination location, according to John Orrico, president of National Realty, who spoke exclusively with GlobeSt.com.
TEANECK, NJ—“The projects we're interested in are necessity and value driven, and we're looking at how we can complement them by adding to the experience," says panelist Herbert Eilberg, chief investment officer at Urban Edge Properties.
WHITEHALL, PA/RUNNEMEDE, NJ—“Both properties, which were built in the 1960s and were owned by the seller for 40+ years, appealed to the buyer because they are primed for major capital improvements that will quickly yield high-end competitive market-rate rents,” says Gebroe-Hammer's Adam Zweibel.
HARDING TOWNSHIP, NJ—After four decades in business, George Kimmerle, the founder, president and partner of Kimmerle Group is taking his firm in what might seem to be unconventional directions for its long-time clients.
SOMERSET, NJ—“In a submarket that has seen good demand but relatively low rent growth for the last five years, we've begun to see rents climb higher than was forecasted, and we're also seeing an influx of leading companies with strong credit quality,” says CBRE's Robert Pine, who led the team that arranged the leases.
ISELIN, NJ—The development community continues to launch industrial construction projects on spec – at a level not seen in 15 years, according to Charles Fern, executive managing director and senior supply chain specialist with Cushman & Wakefield.
CLIFFSIDE PARK AND PATERSON, NJ—Along the Hudson Palisades in Cliffside Park, 19 units sold for $5.45 million, or $286,842 per unit at 319 Palisade Ave., one of two main north/south thoroughfares in the borough.
WHIPPANY, NJ—"We recognized The Crossings is a great example of a property that could be modernized through strategic investment into improvements,” says Stephen Card, principal and Mid-Atlantic regional director for Rubenstein Partners. “We are incredibly proud of the outcome and our ability to attract a global organization like Barclays Capital.”
