A rendering of the new mixed-use project to be built at the former Lucas Chevrolet dealership in Woodbridge, NJ.
WOODBRIDGE, NJ—Prism Capital Partners of Bloomfield, NJ, in a joint venture with Northwestern Mutual Insurance Co. has acquired a development site with plans to develop a major mixed-use project here.
Prism, who will be operating partner, will redevelop the former car dealership site into a development that will feature 232 apartments and 12,000 square feet of retail space. All approvals to move forward with the project have been secured.
Cushman & Wakefield's New Jersey capital markets team orchestrated the joint venture purchase, in which Northwestern Mutual Insurance Company also is serving as construction lender. The commercial real estate services firm's Andrew Merin led the transaction with team members David Bernhaut, Gary Gabriel, Brian Whitmer, Kyle Schmidt and Ryan Dowd.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
