New Jersey

The four-story building on 16 acres in the heart of New Jersey's biopharma hub drew spirited interest from prospective buyers, says Cushman & Wakefield.

Rugby Realty's Maurice Ades says the company's expectation of strong growth in Lyndhurst was borne out by the sale to Gramercy/Blackstone.

The lease with Michaels arts and crafts store combines with the arrival of two new dynamic dining offerings, Hash House A Go Go and Joe Italiano's Maplewood and the mall in South Jersey, about 15 miles from Center City Philadelphia.Lease executed with Michaels to complete anchor redevelopment, delivering diverse offerings

The location, on the second floor of the mall near Forever 21 and Nordstrom's, will focus on startups, small businesses, retail and e-commerce incubation initiatives, revolutionizing the mall model.

Strengthening market fundamentals drove fourth quarter absorption and historic class A asking rents, say the firm's Andrew Judd and Jason Price.

“This strategically located building is ideal for major users looking for quality industrial space at the epicenter of two major consumer markets,” says CBRE's Ben Shapiro.

During the month of December alone, Gebroe-Hammer arranged 14 trades valued in excess of $114.21 million encompassing 1,076 units.

“The property is a perfect addition to our portfolio of transit-oriented workforce housing, and we will add additional value by enhancing management and resident services,” says Andy Wallace, CEO of One Wall Partners.