Kushner, Rouse Form JV for NJ Mall Redev

Kushner Companies formed a joint-venture with Rouse Properties to redevelop The Heights at Monmouth as a 1.5 million-square-foot, mixed-use destination in Eatontown, NJ. The New York-based partners envision transforming the existing Monmouth Mall with new shopping, dining, entertainment, leisure and daily-use providers, as well as residential space. Kushner’s Laurent Morali said, “This long-term investment in

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Former NJ Toys R Us HQ Sold, Development Eyed

The former 621,000-square-foot Toys R Us corporate headquarters at One Geoffrey Way in Wayne, NJ has traded hands for an undisclosed price. The unnamed buyer plans to enhance the site for multiple uses. The property was assessed at $38.5 million last year. Situated on roughly 191 acres overlooking a lake-like reservoir, the site served as

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NJ Seniors Housing Redevelopment Delivered

Middlesex County and Pennrose opened The Residence at Roosevelt Park, an 84-unit independent living community for senior citizens in Edison, NJ. The nearly $25M adaptive reuse and historic renovation project was formerly Roosevelt Hospital, which was built in 1937 as part of President Franklin D. Roosevelt’s New Deal. Jointly developed by the county and Philadelphia-based

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Allergan, LifeCell Execute 283K-SF NJ Lease, Acquisition

Save the date for Connect Healthcare on November 8 – a national event at the Andaz Scottsdale Resort & Spa. More details coming soon. Allergan Sales LLC and subsidiary LifeCell Corp. completed a lease transaction and acquired two Branchburg Corporate Campus buildings owned by Murray Construction in Branchburg, NJ. The 75-acre development is located at

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Jaguar Land Rover Rolls Out $30M HQ in NJ

Jaguar Land Rover North America opened a $30-million North American headquarters facility in Mahwah, NJ. The state-of-the-art 144,000-square-foot HQ for 400 employees is located at 100 Jaguar Land Rover Way. “The opening of our all new headquarters in New Jersey ushers in a new era for Jaguar Land Rover in North America in which we will have growing sales,

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Meridian Arranges $150M Financing for 10-Asset Mid-Atlantic MF Portfolio

Meridian Capital Group arranged $150 million for the refinance of the Mid-Atlantic Multifamily Portfolio on behalf of AION Partners. The 2,800-unit portfolio includes 10 multifamily properties located in Delaware, New Jersey and Pennsylvania. The 10-year Freddie Mac loan, provided by Capital One Multifamily Finance, features a LIBOR-based floating rate and five years of interest-only payments.

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Harrison Street Nabs New Jersey Medical Office Complex

Chicago-based Harrison Street Real Estate Capital, LLC, acquired a 538,107-square-foot MOB in Morristown, NJ from National Business Parks, Inc. for an undisclosed amount. Brokers involved in the deal say it is the largest medical office sale ever in the state of New Jersey by square footage. The three-building, Class A buildings are 93% leased to

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126K-SF Building Portfolio Sells

Amerco Real Estate Co., a U-Haul affiliate, acquired three multi-tenant flex buildings totaling 126,251 square feet at 510 Heron Dr. in Swedesboro, NJ. Seller Starwood Property Trust Inc. (with LNR Property LLC as manager), walked away from the transaction with $3.5 million. Representing the seller was Jacklene Chesler of Colliers International Group Inc., along with

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Six-Building Northern NJ Industrial Portfolio Trades for $147M

Connect Industrial is heading to Chicago, June 28th. Here’s where to get more details and register. Morristown, NJ-based The Hampshire Companies sold a six-building industrial portfolio totaling 1.2 million square feet in northern New Jersey to an undisclosed buyer for $146.85 million. The 96%-leased portfolio comprises: 200 Middlesex Avenue in Carteret (408,437 square feet) 39 Robinson Road

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Connell Foley Relocates NJ HQ

Connell Foley LLP opened a new 75,000-square-foot corporate HQ at 56 at Roseland in NJ. The 400,000-square-foot repositioned suburban office building is owned by joint venture partners Mountain Development Corp. (MDC) and Square Mile Capital. MDC’s Michael Seeve says, “Connell Foley’s decision to move its headquarters here after 30 years at its previous location in

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