NEWARK, NJ—Real estate development law firm Chiesa Shahinian & Giantomasi and Jones Lang Lasalle are shopping an extraordinary 5.2-acre site being sold by long-time owners for a mixed-use, transit-oriented development site located in Newark's vibrant Ironbound neighborhood.

BLOOMFIELD, NJ—The "new urbanism," with rising demand from millennials and empty nest Baby Boomers for urban "live-work-play" settings, is critical to successful development in the long term, according to Eugene Diaz, principal partner of Prism Capital Partners.

HACKENSACK, NJ—Construction on Alkova Companies' 150-170 Main Street multifamily tower in downtown Hackensack, NJ is underway, and architect Barry Poskanzer tells GlobeSt.com exclusively that the project presented several design challenges.

PHILADELPHIA—Procida Funding & Advisors founder William "Billy" Procida remains highly enthusiastic about its investments in Philadelphia, capping the third quarter with the $35-million construction financing for the restoration of the iconic Divine Lorraine Hotel on North Broad Street, which helped Procida's 100 Mile Fund score a 16% annualized return in the quarter.

CAMDEN, NJ—Subaru of America has turned the ignition switch for its new 250,000 square-foot corporate headquarters near Admiral Wilson Boulevard in Camden, NJ. Like several other large New Jersey employers, Subaru is taking advantage of Grow NJ tax incentives to move its North American headquarters from Cherry Hill to Camden.

SOMERSET, NJ—A four-story, 45,000 square-foot commercial building at 201-217 West Main Street, between New Street and South Doughty Avenue in Somerville, NJ, has been sold for $3.2 million.

NEW JERSEY—Somerset Development completed and fully leased a new building in Lakewood where it has already built several properties, Bussel Realty closed a flurry of lease transactions in Middlesex recently, and Andrew Zezas, CEO, and several executives from Real Estate Strategies joined Jones Lang LaSalle. Read more in this deal-tracker roundup of recent news.

WESTFIELD, NJ—Westfield, NJ, is the latest New Jersey municipality to gain a transit-oriented multifamily property, with the start of construction on The Hampshire Companies 70-unit luxury multifamily complex at 333 Central Avenue.