Northern New Jersey Commercial Real Estate News recent headlinesThe St. Moritz Sold for $120.3M
Cornerstone Real Estate Advisors, Inc. acquired The St. Moritz, a 224-unit high-rise apartment building at 100 Daibes Ct. in Edgewater, NJ, from its developer, Daibes Enterprises, for $120.25 million, or about $537,000 per unit, in an all-cash sale.
The 25-story, 271,000-square-foot multifamily property was constructed in 2004 on 3.6 acres in the Gold Coast community of Edgewater, overlooking the Hudson River in the Bergen County submarket. The...Market Trend: Northern New Jersey Office Vacancy Down to 14.4%
The Northern New Jersey Office market ended the first quarter 2014 with a vacancy rate of 14.4%.
The vacancy rate was down over the previous quarter, with net absorption totaling positive 612,991 square feet in the first quarter. That compares to negative 817,361 square feet in the fourth quarter 2013. Vacant sublease space decreased in the quarter, ending the quarter at 1,846,638 square feet.
Tenants moving into large blocks of space in...CoStar's People of Note (Apr. 6 - 12)
It's time to update those contact managers with CoStar's People of Note, reporting news on significant new CRE hires and promotions. This week's issue includes the following markets: Chicago, New York City, Detroit, Philadelphia, East Bay, Orange County, Phoenix, Los Angeles, St. Louis, Seattle, and Northern New Jersey.
Bertke to Direct CBRE's Asset Services in Eastern U.S.
By CoStar Research
Schwartz Joins Cushman & Wakefield's Capital Markets Grp
Andrew Schwartz has rejoined Cushman & Wakefield of New Jersey, Inc. as a director in the firm's metropolitan area capital markets group. Based in the firm's Morristown, NJ office, Schwartz will focus on middle-market investment transactions.
Schwartz is rejoining the firm where he started his career as a broker in industrial sales and office leasing back in 1985. He worked there for eight years before heading to Wall Street and the financial...Nistica Corp. Leases 21,000 SF
Nistica Corp. leased 20,580 square feet at 745 Route 202 S in Bridgewater, NJ. With this lease extenstion, the firm will now occupy the entire floor of the building owned by Whitestar Advisors.
The three-story, 4-Star office property, located on more than five acres in the Route 78 East, was constructed in 1982 and totals 59,825 square feet.
Warren Searles and Charles Parmelli with Cassidy Turley represented the tenant. John Osborne with Bergman...Revised Master Plan Completed for Logan Industrial Park
Reno-based industrial development firm Dermody Properties has announced an updated master plan for LogistiCenter Logan Industrial Park.
The 1,100-acre, master-planned park in Logan Township, NJ currently accommodates 12 buildings, with prominent tenants such as Sears, hh Gregg, and Performance Food Group. Upon the build out of the remaining twelve sites, the park will house more than 7.4 million square feet of industrial, distribution, and light...Thomson Reuters Signs 72,000-SF Expansion in Hoboken
Thomson Reuters is expanding into 72,000 square feet of additional office space
in SJP Properties' Waterfront Corporate Center II at 121 River St. in Hoboken, NJ. The deal brings the firm's total occupancy to 93,000 square feet in the building, which is now fully leased.
Thomson Reuters was attracted to the building because of the accessibility of Hoboken to the NYC area. They will be moving into the new space in the third quarter of 2014, relocating...Hampshire Cos, CrownPoint Grp Partner on Bergen Street Redevelopment
The Hampshire Companies and CrownPoint Group have formed a joint venture to develop a 104-unit, 122,000-square-foot, multifamily complex on the waterfront of the Passaic River.
The proposed complex, situated on 1.5 acres, will consist of 2 twin four-story buildings with 52 units each. Each building will offer a range of studio to two-bedroom apartments.
"After evaluating the positive activity within the waterfront and aligning ourselves with...Advance Realty Continues Strategic Growth Plan With New Hire and Promotion
Advance Realty of Bridgewater, NJ has hired Barry Quiner as the director of asset management, and has promoted Rick Zack to managing director of property management.
Quiner will be responsible for developing and implementing strategies to enhance the value of Advance Realty’s current portfolio and acquisition pipeline. He is also responsible for the company’s leasing initiatives with existing tenants and brokers.
Prior to joining Advance, Quiner...Tepper Tapped To Lead Mill Creek's Northeast Expansion
Russell Tepper has joined Mill Creek Residential, a national apartment investor, owner and operator, as senior managing director of its Northeast region. In his new role, Tepper will lead the company's strategic growth in New York, New Jersey, Connecticut and Pennsylvania.
Tepper brings 21 years of industry experience, having previously served as vice president of development for Matrix Development Group, where he managed the company's urban redevelopment...SPECIAL REPORT: CoStar Cracks Down On Data Thieves
As part of a coordinated anti-piracy campaign aimed at ending theft of its services and protecting legitimate subscribers, CoStar Group this week announced it is filing a series of lawsuits against eight firms and individuals.
The suits allege the defendants engaged in the systematic theft of CoStar's services though acts of online piracy and computer hacking via illegal password sharing. If found liable, the defendants in these cases could be...
LB Commercial Realty News & Articles
Moves to a larger facility:
Read more about LB Commercial real estate recent
relocation to a larger facility located in Closter, NJ.
Press Release June
2008: This release is information about how LB Commercial was named
exclusive leasing brokers of Rockleigh
Corporate Center, one of the most prestigious towns of New Jersey.
NJBIZ Top 50 NJ 2006:
New Jersey's top real estate brokerage companies in 2006.
2006-2007: This newsletter published in 2006, pertains to the approach
LB Commercial will take for the future of New Jersey's real estate market.
Top 50 Commercial
Award: NJ Biz magazine announces LB Commercial Real Estate as a top
Commercial Real Estate brokerage company in 2006
Real Estate: Press release from The Record published in 2007
pertaining to the industrial real estate reversing the 2nd quarter slide.
Record Article Jan 2008: Press release from The Record
published in 2008 covering the history and recent achievements of LB Commercial
Bergen Record Article:
Press release from The Record published in 2007 reviewing the
history and an in depth perspective of of LB Commercial Real Estate.
5 Reasons The Economy Might Recover Faster Than You Think - MSN Money -
Article pertaining to how the financial outlook of 2009 might improve faster
than elected officials proclaim.
Repex Investments December
2008 Report: Information regarding weekly Dow Jones, NYSE and Standard
and Poor 500 index reports for December 29, 2008.