(Read more on the multifamily market and moreon the industrialmarket.)
NEWARK-Aetna Realty acquired the 500,000-sf former Westinghousemanufacturing plant on Orange Street here more than two decades agofor just $2 million. Now, after sitting vacant and fenced-off formost of that period, the circa 1870 brick structure is beingdemolished by the New York City-based owner.
That demolition is expected to pave the way for a mixed-useredevelopment of the four-acre site. Specific plans have not beenreleased, and neither has a development timeline, but renderingsand preliminary data provided by the company show multiple20-story-plus towers, a mid-rise residential building and aground-floor retail component.
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