RAMSEY, N.J. — Fashion design firm Marcus Adler has signed a 24,550-square-foot industrial lease in the Northern New Jersey community of Ramsey. According to LoopNet Inc., the single-tenant property at 91 Grant St. was built in 1980. Andrew Somple and Jessica Curry of NAI James E. Hanson represented the tenant in the lease negotiations. An entity doing business as RW Ramsey Realty Corp. owns the building.
Dynamic Engineering Consultants Signs 15,486 SF Office Lease Expansion in Chester, New Jersey
CHESTER, N.J. — Dynamic Engineering Consultants has signed a 15,486-square-foot office lease expansion at 245 Main St. in the Northern New Jersey community of Chester. Dynamic Engineering has been a tenant at the property, which was originally built in the 1920s as a school building and converted to office usage in 2017, since 2006. Rob Marek represented the landlord, Larken Associates, in the lease negotiations on an internal basis.
KRE Group, NREA Top Out 60-Story Apartment Tower in Jersey City
JERSEY CITY, N.J. — A partnership between locally based developer KRE Group and National Real Estate Advisors has topped out the third and final tower at Journal Squared, a multifamily development in Jersey City. Designed by Hollwich Kushner and Handel Architects and built by AJD Construction, the newest tower rises 639 feet and will house 598 units and 18,000 square feet of amenity space. The other two towers rise 53 and 70 stories, and the entire development will eventually consist of 1,840 apartments and 36,000 square feet of commercial space. Completion of the third tower is slated for the first quarter of 2024.
G.S. Wilcox Arranges $8.5M Loan for Refinancing of Northern New Jersey Industrial Building
TETERBORO, N.J. — Locally based mortgage banking firm G.S. Wilcox & Co. has arranged an $8.5 million loan for the refinancing of an 86,150-square-foot industrial building located in the Northern New Jersey community of Teterboro. The building was constructed in the 1960s and was leased to 21 tenants at the time of the loan closing. Gretchen Wilcox and Al Raymond of G.S. Wilcox arranged the debt through Mutual of Omaha on behalf of the borrower, The Hampshire Cos.
Cronheim Mortgage Arranges $50M Permanent Loan for Northern New Jersey Shopping Center
WOODCLIFF LAKE, N.J. — Locally based financial intermediary Cronheim Mortgage has arranged a $50 million permanent loan for Tice’s Corner, a 120,000-square-foot shopping center in the Northern New Jersey community of Woodcliff Lake. The two-building center was constructed on 13.4 acres in 2001 and was fully leased at the time of the loan closing. Tenants include Apple, Anthropologie, Free People, GAP, J. Crew, Panera Bread, Pottery Barn, Madewell, Nike and Williams-Sonoma. Dev Morris, Andrew Stewart and Allison Villamagna of Cronheim Mortgage arranged the loan on behalf of the borrower, an affiliate of Connecticut-based David Adam Realty. The direct lender was not disclosed.
Denholtz, Redwood Break Ground on 143-Unit Multifamily Project in Bound Brook, New Jersey
BOUND BROOK, N.J. — A partnership between two regional developers, Denholtz Properties and Redwood Real Estate Group, has broken ground on The Rail at Bound Brook, a 143-unit multifamily project located about 50 miles southwest of Manhattan. The six-story building will offer studio, one- and two-bedroom units and amenities such as a fitness center, game room, courtyard and outdoor grilling and dining areas. A tentative completion date was not disclosed.
Garden Communities Opens 377-Unit Jefferson Apartments in Hackensack, New Jersey
HACKENSACK, N.J. — Locally based developer Garden Communities has opened The Jefferson, a 377-unit apartment community located outside of New York City in Hackensack. Designed by Minno & Wasko Architects & Planners, The Jefferson features one- and two- bedroom units ranging in size from 735 to 1,598 square feet, with most residences offering private balconies/patios. Communal amenities include a pool, fitness center, business center, private bowling alley, a billiards and entertainment room, golf simulator, children’s playroom, outdoor grilling and dining areas and a dog park. Rents start at $2,490 per month for a one-bedroom apartment.
Generichem Corp. Signs 27,500 SF Life Sciences Lease in Towaco, New Jersey
TOWACO, N.J. — Pharmaceutical company Generichem Corp. has signed a 27,500-square-foot life sciences lease in the Northern New Jersey community of Towaco. According to LoopNet Inc., the building at 425 Main Road was constructed on 2.7 acres in 1984. Marc Trevisan and Tom Mallaney of CBRE represented the tenant in the negotiations for the full-building lease. Cushman & Wakefield represented the landlord, Schuster Bauman.
SJP Properties Unveils Plans for Next Phases of $731M Life Sciences Development in New Brunswick, New Jersey
NEW BRUNSWICK, N.J. — New York City-based SJP Properties has unveiled plans for the second and third phases of the HELIX Health + Life Science Exchange, a $731 million life sciences development in New Brunswick, about 45 miles south of Manhattan. Developed in partnership with New Brunswick Development Corp., Phase II of the project will be known as H-2 and will feature 600,000 square feet of build-to-suit lab and office space that can accommodate a range of users. The final phase of HELIX, H-3, will include a 42-story mixed-use building that will have traditional office space and 220 units of housing in addition to life sciences space. The first phase of HELIX, known as H-1, is currently under construction adjacent to Rutgers University’s campus in the downtown area. Totaling 574,000 square feet, H-1 will house the New Jersey Innovation HUB, the new home of Rutgers Robert Wood Johnson Medical School and a Rutgers translational research facility equipped with a variety of labs. The initial phase of the project will also have a 10,000-square-foot market hall with food options and a 3,000-square-foot restaurant that opens onto a 70-foot-wide plaza. The site of the four-acre innovation district is across the street from …
JCM Living Underway on 295-Unit Multifamily Redevelopment in Wood-Ridge, New Jersey
WOOD-RIDGE, N.J. — New Jersey-based developer JCM Living is underway on construction of Rosera Wesmont, a 295-unit multifamily redevelopment project in Wood-Ridge, located in Bergen County in the northern part of the Garden State. The project represents the final phase of Wesmont Station, which is a redevelopment of a 150-acre site that formerly housed an aircraft engine manufacturing facility. Upon completion, which is slated for early next year, Rosera Wesmont will offer one-, two- and three-bedroom units, as well as Class A amenities and 35,000 square feet of retail and restaurant space. Project partners include Minno & Wasko Architects & Planners, Childs Dreyfus Interior Design and general contractor Ingerman Construction.