New Jersey

The Elizabeth General Hospital was shuttered more than two decades ago. The mixed-use project at 901 E. Jersey St. will be developed on a 5.41-acre site.

Colliers reports that the new owner has reconceived the vacant box as a mix of large floor plate opportunities, new exterior facing small retail and/or restaurant tenants along with several new outparcels offering the potential to court statement restaurant operators to the mall complex.

The renewals at the property located at 19-21-25 Main St. in Hackensack included The Knee Law Firm for 2,600 square feet, Potenza & Curtis Law for 1,350 square feet, Cowen & Jacobs for 1,250 square feet, and Robert M. Biagiotti Law for 1,000 square feet.

The portfolio includes more than 20 properties and more than 240,000 square feet of total space.

Jay Hennick, Global chairman and CEO of Colliers International, says, "The transaction establishes us as a major player in the engineering design and consulting sector in the U.S., providing us with another important engine for growth."

JLL Capital Markets marketed the property and represented an institutional client in the sale of the 166,979-square-foot complex.

Zack, who has more than 20 years of property management experience, most recently served as a regional VP with CIM Group, L.P. since 2018.

The company stated its latest securitization drew investor orders significantly in excess of the quantity of notes offered, and the offering was upsized by 33% during the marketing period.