New Jersey

FLORHAM PARK, NJ—Developers trying to revitalize suburban office parks need to be thinking outside the box about their renovation plans if they are to succeed, according to Clark F. Machemer, senior vice president and regional development officer of the Rockefeller Group Development Corp. Machemer is serving this year as president of the New Jersey NAIOP Chapter. In an exclusive podcast interview, Machemer talks about NAIOP regulatory initiatives he says will promote suburban office park and downtown business district development.

LIVINGSTON, NJ—Multifamily investors kept brokers busy in the first two months of the year, according to Ken Uranowitz, president of Gebroe-Hammer Associates. The Livingston-based investment brokerage firm arranged 17 transactions – averaging two per week – in the first eight weeks of the year. In total, the deals involved 1,563 units sold for a combined $211.555 million.

Recently, the result of an annual water quality testing in a New Jersey public school district was released to the public. The results indicated that…

EDISON, NJ—Mack-Cali Realty Corporation says that during the first quarter it reached agreements to sell assets in Washington, DC and Manhattan for approximately $365.5 million. The sales are part of the firm's $750 million goal for dispositions outlined last year in the company's strategic plan and represent an exit from these markets.

HOBOKEN, NJ—E-commerce venture Jet.com will double the size of its headquarters at SJP Properties' Waterfront Corporate Center III in Hoboken. Jet is adding 40,000 square feet, for a total of 80,000 square feet.

HACKENSACK, NJ—JP Management has acquired Prospect West, a 45-unit mid-rise luxury apartment building in Hackensack, Bergen County, NJ, for $9.35 million in an off-market sale brokered by The Kislak Company.