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New Jersey’s original leading source for commercial real estate news focusing on northern, central and southern Jersey locales covering analysis, trends, events and resources in office, industrial, retail, multifamily, hotel, healthcare and net lease property sectors.

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    The restaurant, which opened in 2018 on the Paramus Golf Course, will move operations to its new location at 227 Franklin Ave. in Nutley. Peg’s signed a long-term lease for the 6,300-square-foot former Kyoto Buffet Restaurant space.

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    The transaction was facilitated by an unspecified preferred equity investment by national multi-housing owner and operator Pensam Residential of Miami. Pensam’s preferred equity investment is structured behind Fannie Mae senior financing.

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    Brokerage firm JLL worked on behalf of LeCesse Development Corp. and MAS Development Group to secure a $55-million construction loan through Citizens Bank and Lakeland Bank for the Vinty.

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    Until recently, the three-story building’s top floor—totaling approximately 117,000 square feet—was occupied by AIG.

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    Alternative Data Sets Strengthen Commercial Real Estate Decision Making

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    CRE professionals are relying more on data and analytics to drive decision making. Discover how alternative data sets provide a competitive edge on everything from choosing the best location for your next development opportunity to optimizing existing real estate footprints.

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    Discover why a freshly updated 370 Lex, accompanied by a smart new direction and returning Broad Street Development owners, makes the property an enticing option for a new breed of office tenants.

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