PHILADELPHIA—Understanding suburban residents is critical to producing reimagined and redeveloped communities outside the urban core, say panelists at the Urban Land Institute Philadelphia District's “Contagious Urbanization: How the Suburbs are Embracing Mixed-Use and Density,” held today at the Union League Club.
EAST BRUNSWICK, NJ—CW Solutions has names Stacey Colfer a senior right-of-way project manager. Colfer joins the team at the fast-growing company as it continues to expand its scope of services.
JERSEY CITY, NJ—The KABR Group and Kushner Companies have purchased the iconic 124-134 Bay Street, known as Warren at Bay, located in the Powerhouse Arts District of Jersey City, just blocks from the waterfront and the Grove Street PATH transit station.
EGG HARBOR TOWNSHIP, NJ—Conversion of the Clarion Hotel and Convention Center into The Atrium Apartments at Egg Harbor, an 84-unit affordable housing community in the Atlantic City suburb of Egg Harbor Township, New Jersey, is nearly complete.
NORTH PLAINFIELD, NJ—Retail real estate services firm Levin Management has executed more than half a million square feet of new leases, renewals and expansions during the past 12 months, according to Matthew K. Harding, Levin's president.
JERSEY CITY, NJ—Gramercy Property Trust has sold 70 & 90 Hudson Street, twin class A office buildings on the Jersey City waterfront to Spear Street Capital for $299 million. The combined buildings total 858,000 square feet, making it the largest New Jersey office deal this year.
BETHEL, PA—Dermody Properties and Granite Real Estate Investment Trust have leased the majority of their 750,000-square-foot industrial facility in the Lehigh Valley to a global consumer electronics company they declined to identify. The company has leased 500,400 square feet of the facility, which is located in the 323-acre industrial park known as Berks Park 78.
UNION CITY/JERSEY CITY, NJ–Hudson County's multifamily properties are primed for rent growth and property appreciation that continues to outpace Northern New Jersey's six other apartment submarkets, according to Nicholas Nicolaou, senior vice president at Gebroe-Hammer Associates. The Hudson County market specialist, who recently arranged three separate trades totaling 148 units sold for $19.3 million in Union City and Jersey City, links optimal property performance and area gentrification to enduring investment activity.
PLYMOUTH MEETING, PA—Saks Fifth Avenue is leasing 24,680 square feet of space for its OFF 5TH store in the Metroplex Shopping Center in Plymouth Meeting, PA.