New Jersey Area News

MM.LaFleur Takes Meadowlands Lease

MM.LaFleur, an internet-based retailer that sells clothing for career women, is the latest e-commerce business opening up a distribution center in the Meadowlands in North Jersey. The company, which has showrooms in Manhattan and across the nation, has signed a lease for 405 Murray Hill Pky. in East Rutherford, NJ, said Bill Waxman, an executive vice president with CBRE in Saddle Brook, NJ. The tenant will fill the entire 76,518-square-foot...
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Posted: February 21, 2018, 8:14 am

Plumbing Firm Relocates HQ to Parsippany

John Guest USA Inc., a plumbing-goods maker, is relocating its North American headquarters from Fairfield, NJ, to Parsippany, NJ, leasing 60,600 square feet at 20 East Halsey Rd. John Donnelly, based in Colliers International's office in Parsippany, represented John Guest USA in negotiating the long-term lease at the Class A industrial-warehouse property in Morris County. Thomas Consiglio and Scott Peck of Resource Realty of Northern NJ represented...
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Posted: February 20, 2018, 6:43 am

Bentall Kennedy Sells 17-Bldg PHT Medical Office Portfolio

Princeton Medical Arts Pavillion in Plainsboro, NJ, one of 17 medical office buildings that were acquired by Heitman. Bentall Kennedy, a Sun Life Investment Management company that has about $37 billion of assets under management, sold its Partners Health Trust (PHT) medical office portfolio to Heitman, a global real estate investment management firm headquartered in Chicago, for an undisclosed price. This transaction, one of the largest medical...
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Posted: February 20, 2018, 6:13 am

Four New Leases Totaling 64,000 SF Signed at Princeton Forrestal Ctr

Four tenants have signed new or renewal leases representing 64,000 square feet at 600 and 650 College Rd. in Princeton, NJ. Cushman & Wakefield serves as exclusive leasing agent for the 440,000-square-foot, Class A office complex, which is about to undergo a renovation and rebranding. The newest tenant to come to the property is COFACE North America, a global credit insurance organization, which committed to 27,000 square feet in a headquarters...
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Posted: February 16, 2018, 7:31 am

Prieto Confirmed as Next Leader of New Jersey Sports and Exposition Authority

New Jersey Assemblyman Vincent Prieto was named the new president and CEO of the New Jersey Sports and Exposition Authority on Thursday. State Assemblyman Vincent Prieto vowed to boost the Meadowlands’ standing as an economic hub and driver, not only for northern New Jersey but for the entire Garden State, following his appointment Thursday as the next president and CEO of the New Jersey Sports and Exposition Authority (NJSEA). Prieto, a longtime...
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Posted: February 15, 2018, 8:51 am

NJ Sports and Exposition Authority Expected to Name New President/CEO

The New Jersey Sports and Exposition Authority (NJSEA), the agency that oversees development in the Meadowlands region, is expected to name state Assemblyman Vincent Prieto as its new president and CEO on Thursday, according to multiple sources. The agenda for the NJSEA's monthly board meeting at its Lyndhurst headquarters includes a closed-door executive session to discuss a resolution to appoint a president and CEO, but doesn’t identify who...
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Posted: February 14, 2018, 10:16 am

Strong Man Building Products Renews Lease for 128,000 SF

Strong Man Building Products, a national provider of job-site safety products, signed a 10-year, full-building lease renewal for the 127,800-square-foot industrial building at 240 West Pky in Pompton Plains, NJ. The single-story distribution building was constructed in 1982 on seven acres in the Route 23 / I-287 Industrial submarket of Morris County, within Pequannock Twp. It features 24-foot clear heights, 21 loading docks and one drive-in,...
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Posted: February 12, 2018, 6:56 am

AIMCO Sells 896-Unit Hunters Glen Apartments

Carmel Partners, a San Francisco-based real estate investment firm, acquired the 896-unit Hunters Glen Apartments at 1109 Hunters Glen Dr. in Plainsboro, NJ for $150.1 million, or about $182 per square foot, from AIMCO. The 825,212-square-foot multifamily community was delivered in 1976 on 20.1 acres in the Turnpike West MF submarket, a few blocks from Plainsboro Township’s business district. It offers a mix of one- and two-bedroom floorplans...
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Posted: February 6, 2018, 9:57 am

DRA Pays $17M for the River Club Site in Bogota

BR Colony Holding LLC sold the 13-acre River Club Site at 300 W. Fort Lee Rd. in Bogota, NJ for $17 million, or about $4.36 million per acre, to Diversified Realty Advisors LLC. The proposed development is located on the former Hess Oil Terminal & Sifford Pontiac site in Bergen County. The River Club will include five multifamily buildings with a total of 421 luxury residential apartments, a clubhouse, secured parking, resort-style swimming...
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Posted: February 6, 2018, 9:05 am