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Hoboken-Connect
DevelopmentMixed-UseNew JerseyNortheast

LCOR Breaks Ground on $900M Mixed-Use Project in Northern New Jersey

by Taylor Williams

HOBOKEN, N.J. — Locally based developer LCOR has broken ground on Hoboken Connect, a $900 million mixed-use project in Northern New Jersey. The waterfront development will consist of a 386-unit apartment complex, a 21-story office building, 5,000 square feet of retail and restaurant space and open public space. Within the multifamily component, 20 percent of the residences will be reserved as affordable housing, while the office building will total 704,355 square feet. Both of these buildings will house various Class A amenities. The development team will also make various infrastructural improvements to the site. A tentative completion date was not disclosed.

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DevelopmentIndustrialNew JerseyNortheast

Woodmont Properties Completes Renovation of 30,000 SF Industrial Building in Lyndhurst, New Jersey

by Taylor Williams

LYNDHURST, N.J. — Locally based developer Woodmont Properties has completed the renovation of a 30,000-square-foot industrial building in the Northern New Jersey community of Lyndhurst. The building at 2 Terminal Road is used for both storage and distribution purposes. Specific improvements included the installation of a new roof and front entrance; fresh painting of the building’s interior and exterior; new paving and landscaping; and the addition of built-out office space and additional loading doors.

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Birch-House-Jersey-City
DevelopmentMultifamilyNew JerseyNortheast

Halpern Real Estate Completes 337-Unit Birch House Apartments in Jersey City

by Taylor Williams

JERSEY CITY, N.J. — Locally based developer Halpern Real Estate Ventures has completed Birch House, a 337-unit apartment community located at 49 Fisk St. in Jersey City’s West Side neighborhood. Designed by Minno & Wasko Architects & Planners, the six-story building houses studio, one- and two-bedroom units and roughly 50,000 square feet of indoor and outdoor amenity space. Other project partners included JRM Construction Management and The Corcoran Group, which is marketing the property for lease. Construction began in late 2021 and topped out in spring 2023.

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Leasing ActivityLife SciencesNew JerseyNortheastOffice

HAX Opens 35,000 SF Headquarters Facility in Newark

by Taylor Williams

NEWARK, N.J. — HAX, a tech concept backed by global venture capital firm SOSV that serves as an incubator for startup companies, has opened its 35,000-square-foot headquarters facility in Newark. The facility includes space for chemical, mechanical and electrical engineering labs, as well as 3D printing, manual metal fabrication, computer numerical control machining and laser cutting. More than 30 companies will operate from within the facility.

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Monmouth-Square-Mall-Eatontown-New-Jersey
DevelopmentNew JerseyNortheastRetail

Kushner Begins $500M Redevelopment of Monmouth Mall in Eatontown, New Jersey

by Taylor Williams

EATONTOWN, N.J. — New York City-based Kushner Cos. has begun the redevelopment of Monmouth Mall in Eatontown, roughly 50 miles outside New York City, a project that is valued at approximately $500 million. Under the current plans, the redevelopment will convert the mall into a mixed-use destination with 900,000 square feet of retail and restaurant space and 1,000 residential units. Whole Foods Market will anchor the retail component of the project, which will also feature public green spaces, pedestrian pathways and medical office space. Construction will include the demolition of 600,000 square feet of retail space at the site. According to its Wikipedia page, Monmouth Mall originally opened in 1960 and today features approximately 1.5 million square feet of shopping, dining and entertainment space.

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Leasing ActivityNew JerseyNortheastRetail

Sportime Pickleball to Open 30,000 SF Facility in Englewood, New Jersey

by Taylor Williams

ENGLEWOOD, N.J. — Regional operator Sportime Pickleball will open a 30,000-square-foot facility in the Northern New Jersey community of Wayne. The facility at 62 Route 4 E will feature 12 courts. Neil Seth, Jennifer Konefsky, Kenji Ota and Kathryn Cruz of Cushman & Wakefield represented Sportime Pickleball, which is also opening a 50,000-square-foot facility in nearby Wayne, in the lease negotiations. Andrew Somple of NAI James E. Hanson represented the undisclosed landlord. The opening is slated for early 2025.

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Legacy-Place-East-Brunswick-New-Jersey
DevelopmentMultifamilyNew JerseyNortheast

Garden Communities Completes One Legacy Place Apartments in East Brunswick, New Jersey

by Taylor Williams

EAST BRUNSWICK, N.J. — New Jersey-based developer Garden Communities has completed One Legacy Place, a multifamily project located in the Northern New Jersey community of East Brunswick. One Legacy Place is the signature building within the larger, 520-unit Legacy Place development. The property features studio, one-, two- and three-bedroom units across two buildings with garage parking and 18,000 square feet of retail space, all on a 25-acre site. Amenities include a pool, outdoor grilling and dining areas, a coworking lounge, fitness center, dog park and walking trails. Leasing began in November. Rents start at $2,540 per month for a one-bedroom apartment.

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Leasing ActivityNew JerseyNortheastRetail

Sportime Pickleball to Open 50,000 SF Facility in Wayne, New Jersey

by Taylor Williams

WAYNE, N.J. — Regional operator Sportime Pickleball will open a 50,000-square-foot facility in the Northern New Jersey community of Wayne. The facility at 77 Willowbrook Blvd. will feature 18 courts. Neil Seth, Jennifer Konefsky, Kenji Ota and Kathryn Cruz of Cushman & Wakefield represented Sportime Pickleball in the lease negotiations. Curtis Nassau and Patrick Brake of RIPCO Real Estate represented the landlord, Kimco Realty. The opening is slated for the first quarter of 2025.

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AcquisitionsMultifamilyNew JerseyNortheast

JLL Negotiates $54M Sale of Multifamily Development Site in Jersey City

by Taylor Williams

JERSEY CITY, N.J. — JLL has negotiated the $54 million sale of a 1.7-acre multifamily development site located at 107 Morgan St. in Jersey City. The site is approved for the development of 650 apartments and ground-floor retail space. Jose Cruz, Ryan Robertson, Michael Oliver, Steve Simonelli and Elizabeth DeVesty of JLL represented the seller, Veris Residential, in the transaction. The team also procured the buyer, locally based developer LCOR. A timeline for completion was not disclosed.

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Crossings-Commerce-Center-North-Brunswick-New-Jersey
IndustrialLeasing ActivityNew JerseyNortheast

Mayrock Group Signs 191,481 SF Industrial Lease in North Brunswick, New Jersey

by Taylor Williams

NORTH BRUNSWICK, N.J. — Mayrock Group, an automotive manufacturer and distributor, has signed a 191,481-square-foot, full-building industrial lease at Crossroads Commerce Center in North Brunswick, about 45 miles southwest of Manhattan. The building sits on 17 acres at 1980 U.S. Route 1 and features a clear height of 40 feet, 29 tailboard doors, two drive-in doors and 31 trailer parking spots. Mindy Lissner, Bill Waxman, Christine Eberle, David Gheriani, Jeff Volpi and Morgan Nitti of Cushman & Wakefield represented the landlord, Principal Asset Management, in the lease negotiations. Gheriani also represented the tenant.

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