Northern New Jersey Commercial Real Estate News recent headlines
CoStar's People of Note (Jan. 29-Feb. 4)This week's People of Note includes the following markets: Chicago, Dallas/Fort Worth, Los Angeles, Milwaukee/Madison, New York City, Philadelphia, Pittsburgh, South Florida, Washington, DC.
LOS ANGELES
Cockrum Joins Lowe Enterprises Investors as SVP
By Laurie Forbes
Lowe Enterprises Investors hired William M. Cockrum IV as senior vice president to head the company’s marketing and capital raising efforts. He will be based in th
GREEN LEAD | Green Building News from CoStarGREEN LEAD is a column on environmental and sustainable design and construction, best practices for green building maintenance and operations, economic impact on developers and owners, new LEED and Energy Star building certifications, and trends in the Green Building movement.
Send in your Green News Leads to news@costar.com
Latest Research on Green Real Estate Now Available
Latest Potential Investor In Grubb & Ellis Emerges From Talks Without Agreement A two-week period of exclusive negotiations between Grubb & Ellis Co. and New York-based financial brokerage BGC Partners expired Tuesday without an agreement, according to a document filed with the U.S. Securities and Exchange Commission.
Under the previous agreement, Grubb & Ellis provided an exclusive right to negotiate for BGC Partners, headed by chief executive Howard Ludnick, to pursue a debt or equity financing agreement or acquisition of...
Fort Lee Retail Acquired for $7.2MMasillon Realty LLC acquired the retail building located at 461-469 West St. in Fort Lee, New Jersey from Sussco, Inc. for $7,175,000, more than $956 per square foot.
The 7,500-square-foot building was constructed in 1996 and currently houses Staples, a national credit retailer.
Marcus & Millichap represented both sides of the sale. Jonathan Gerszberg represented the seller and Gabriel Britti represented the buyer.
Please see CoStar...
Hartz Mountain Industries Pays $30M for Jersey City LandHartz Mountain Industries, Inc., a New Jersey-based development company, purchased a 1.74-acre parcel of land in Jersey City, NJ from Bank of America Corporation for $35 million, or about $20 million per acre.
The property, located at 99 Hudson Street, is currently part of the Colgate Redevelopment plan, with zoning that allows for up to 900,000 square feet of
office space according to the buyer. The parcel of land was initially attained by Merrill...
In The Pipeline: CoStar Development & Construction News for Jan. 29 - Feb. 4In The Pipeline is a column on significant acquisitions of commercial
land for sale, and other transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new
commercial real estate project -- and sign up to be added to our distribution list to receive future In the Pipeline columns by e-mail.
Trammell Crow, Principal Launch $1B Development Program
Principal...
Market Trend: Northern New Jersey's Retail Vacancy Increases to 6.7%The Northern New Jersey retail market did not experience much change in market conditions in the fourth quarter 2011.
The vacancy rate went from 6.6% in the previous quarter to 6.7% in the current quarter. Net absorption was negative 262,710 square feet, and vacant sublease space decreased by 39,372 square feet.
Tenants moving out of large blocks of space in 2011 include: Kohl's moving out of 175,531 square feet at Orange Plaza; Lowe's...
CoStar's People of Note (Jan. 22-28)This week's People of Note includes the following markets: Dallas, Denver, National, New York City, Orange County, San Francisco and Washington, DC.
DALLAS, NATIONAL
Behringer Harvard Appoints New President, CEO of REITs
By Laurie Forbes
Behringer Harvard hired Michael J. O'Hanlon as an executive vice president of the firm and as CEO and president of Behringer Harvard Opportunity REITs I and II. He took the place
LAST CALL! Deadline Is Next Week for CoStar Power Broker AwardsThis is it! Don't miss out on this opportunity to have your 2011 professional accomplishments recognized by making sure you get credit for the leases and sales you closed in 2011 and you may qualify for the CoStar Power Broker Awards!
The deadline to submit your transactions is next Wednesday, February 1, 2012. As the leading industry award recognizing the "best of the best" in
commercial real estate brokerage, the CoStar Power Broker Awards...
Ravens Crest Apts Sells for $95MHeitman LLC has acquired the Ravens Crest Apartments at 3217 Ravens Crest Dr. in Plainsboro, NJ for $95 million, or about $135,000 per unit, from Equity Residential. Occupancy at time of sale was more than 95 percent.
The 704-unit, two-story, 586,520-square-foot multifamily building was built on 29 acres in the Princeton North submarket of Middlesex County. It is an even mix of one- and two-bedroom units that rent for $865 to $1,570 per month...
Jewelry House Corp Pays $2.6M for Northvale IndustrialJewelry House Corp, a New York-based retailer, acquired the single-story industrial building located at 159 Paris Ave. in Northvale, NJ from Aerco International for $2.55 million, or about $59 per square foot.
The building totals 43,350 square feet and was delivered in 1956. The buyer plans to expand its existing business into the building with plans for a complete renovation of the property later.
James Tully of CBRE represented the seller...
Vanick Properties Pays $6.9M for Hamilton Square Shopping CenterVanick Properties, Inc., a New Jersey-based real estate investment and management company, acquired the Hamilton Square Shopping Center for $6.9 million, or about $269 per square foot, from Hamilton Property Associates LP.
The single-story retail building located at 140 Franklin Turnpike in Waldwick, NJ totals 25,681 square feet and was delivered in 1995. At the time of sale the property was 22 percent vacant.
The buyer was represented by...
Behringer Harvard Appoints New President, CEO of REITsBehringer Harvard hired Michael J. O'Hanlon as an executive vice president of the firm and as CEO and president of Behringer Harvard Opportunity REITs I and II. He took the place of Robert S. (Bob) Aisner who was tapped as vice chairman of the REITs.
O'Hanlon has more than three decades of industry experience with a background in asset management, corporate and loan restructuring and capital markets. He formerly served on the board of BH REIT II...
In The Pipeline: CoStar Development & Construction News for Jan. 22-28
In The Pipeline is a column on significant acquisitions of commercial
land for sale, and other transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new
commercial real estate project -- and sign up to be added to our distribution list to receive future In the Pipeline columns by e-mail.
Follow me on Twitter for live news updates.
CA Firm Named Hudson...
Developer Receives Approvals for NJ Data Center ProjectRusso Development gained approval to build its ninth data center development in the New York metro area on a 71-acre greenfield site in central New Jersey near Exit 12 off Interstate 287.
Russo, New Jersey’s leading developer of single-tenant data center space, expects to begin activity at the Franklin Township, NJ, site early this year. In total, Russo received approval for facilities totaling more than 1.5 million square feet.
The firm has...
LB Commercial Realty News & Articles
LB Commercial
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.
LB Newsletter
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
Industrial
Real Estate: Press release from The Record published in 2007
pertaining to the industrial real estate reversing the 2nd quarter slide.
Bergen
Record Article Jan 2008: Press release from The Record
published in 2008 covering the history and recent achievements of LB Commercial
Real Estate.
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.
