New Jersey

"It's not a cookie cutter," PREIT's Joseph F. Coradino says. "The answer tends to be market driven."

Capitol Senior Housing has other holdings in New Jersey, including the newly opened Atria Norwood, Arbor Terrace Morris Plains, and The Chelsea at the Solana Marlboro, and is opening new communities in Mount Laurel and Shrewsbury.

The former chemical manufacturing facility will be redeveloped into a residential rental building with a number of attractive amenities, parking and retail stores.

New Jersey buyers aren't used to the aggressive price bidding from New York competitors who see even record-high New Jersey prices as a bargain, says Alan Cafiero of Marcus & Millichap.

Maximizing the value, improving the efficiency and maintaining the appeal of retail centers is becoming increasingly complex, says Robert Carson, Levin's executive vice president.

“There are still value-add opportunities in southern New Jersey, especially compared to those in the northern part of the state where pricing is considerably higher," says Kislak senior vice president Matt Weilheimer.

The property at 1102 Jackson Blvd. was sold by High Associates to YMZ, LLC, according to Matthew Wolf, vice president, CCIM of Kislak Co., who brokered the transaction.

The iconic lifestyle brand joins a number of industry-leading tenants at the Nutley, NJ, campus.