BASKING RIDGE, N.J. — The Ferber Co., a South-Florida-based developer, is underway on a retail redevelopment project in the Northern New Jersey community of Basking Ridge. Known as The Shops at The Crossing, the project is part of the larger redevelopment of the 850,000-square-foot Burlington Center Mall, which shuttered in 2018 and was demolished in 2021. Tenants that have already committed include Raising Cane’s, Panera Bread, Freddy’s Frozen Custard & Steakburgers, Discount Tire and Sleep Number. The redevelopment will also feature three industrial buildings totaling 1.9 million square feet that will be developed by Baltimore-based MRP Industrial.
LIVINGSTON, N.J. — Boutique law firm A.Y. Strauss has signed a 10,728-square-foot office lease at The Eisenhower, a 384,000-square-foot campus located in the Northern New Jersey community of Livingston. Harland Hollander of Savills represented the tenant in the lease negotiations. Jonathan Meisel, Dan Casey and Erin Wenzler of CBRE, along with internal agent Eric Maurer, represented the landlord, Eastman Cos.
SICKLERVILLE, N.J. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Gloucester Town Center, a 102,660-square-foot shopping center located roughly 25 miles outside Philadelphia in Sicklerville, N.J. A 57,560-square-foot ACME Markets grocery store anchors the property, which was built in 2003. Other tenants include Dollar Tree, Supercuts, AT&T, Pizza Hut and Mavis Discount Tires. Brad Nathanson of IPA represented the seller, KPR Centers, in the transaction and procured an undisclosed, New York-based partnership as the buyer. Jeremy Nussbaum and Andrew Eisen of Walker & Dunlop arranged $8.1 million in acquisition financing for the deal through Citigroup.
JEFFERSON, N.J. — Locally based developer Diversified Properties has broken ground on a 32-unit multifamily project in the Northern New Jersey community of Jefferson that represents Phase I of a larger development known as Jefferson Place. Residences will come in one- and two-bedroom floor plans and range in size from 855 to 1,216 square feet. Amenities will include a fitness center and an outdoor lounge with grilling and dining stations. Delivery is slated for fall 2024. Details of Phase II were not disclosed.
CARTERET, N.J. — Weida Freight System, a third-party logistics firm based in Hong Kong, has signed a 188,000-square-foot industrial lease in the Northern New Jersey community of Carteret. Weida Freight is taking space at Crow Holdings at Carteret, a newly built, 1.2 million-square-foot development. Jules Nissim, Stan Danzig and Kimberly Bach of Cushman & Wakefield represented the landlord, Crow Holdings, in the lease negotiations. Jimo Liu of Avison Young represented the tenant.
JERSEY CITY, N.J. — Whole Foods Market will open a 51,156-square-foot store at the corner of Washington Street and Columbus Drive in Jersey City on Nov. 9. The store, which will be the Austin-based grocer’s first in Jersey City, will offer more than 1,000 locally sourced items and will feature full-service meat and seafood counters, a bakery, prepared foods section and a wellness and beauty section.
LAWRENCEVILLE, N.J. — Federal Realty Investment Trust has rebranded Mercer Mall in Lawrenceville, roughly 40 miles northeast of Philadelphia. Moving forward, the property, which totals 551,000 square feet, will be known as Mercer on One. Federal Realty has also signed leases with two new tenants at the property. J. Crew Factory will occupy 6,100 square feet, and Crate & Barrel has opened a 42,000-square-foot store. Additionally, DSW is currently undergoing a full remodel and façade upgrade. Ashton Design led the rebranding effort.
TRENTON, N.J. — Garden State Commercial Properties has sold a 240,000-square-foot office building located at 240 W. State St. in downtown Trenton to an undisclosed buyer that plans to redevelop the 16-story building for residential usage. The new complex will offer studio, one- and two-bedroom apartments and amenities such as a fitness center, pool and ground-floor café. In addition, the company will renovate the building’s enclosed parking garage. Completion of the conversion is slated for 2026. Jerry Fennelly of Fennelly Associates represented both parties in the sale.
WOODBRIDGE, N.J. — New Jersey-based Woodmont Industrial Partners has completed a 54,113-square-foot project in the Northern New Jersey community of Woodbridge. The building features a clear height of 32 feet, eight exterior dock doors, one drive-in door and build-to-suit office space. Woodmont has also secured a full-building lease with Indiana-based R.A.S. Logistics. Mindy Lissner, Chuck Fern, Jason Barton and David Gheriani of Cushman &. Wakefield represented Woodmont in the lease negotiations.
EDISON, N.J. — Locally based brokerage firm Zimmel Associates has arranged the $49.7 million sale of a 122,000-square-foot office complex located at 1090 King Georges Post Road in the Northern New Jersey community of Edison. The campus is known as The Business Center at Edison and consists of 12 one-story, standalone buildings. David Zimmel of Zimmel Associates represented the seller, New Jersey-based Denholtz Properties, in the transaction. The buyer, Federal Business Centers, plans to redevelop the property for industrial usage.