News

CLK, LLC acquired the complex for $94 million, according to Cagan's Realty, Inc., an affiliate of Cagan Property Management Inc. of Skokie, IL, which represented CLK in the transaction.

The $25.7-million project would include $3.04 million in mortgage financing from NJHMFA, $1.5 million from its Special Needs Housing Trust Fund, as well as $4 million from its hospital program to be matched by RWJBarnabas Health.

The largest transactions were renewals by Genex totaling 50,037 square feet at 440 East Swedesford Road and Tekni-Lex's 17,219-square-foot renewal at 460 Swedesford Place. The Provident Bank also signed a lease renewal for its 3,350-square-foot operations at 460 Swedesford Road.

Urban Edge Properties, a real estate investment trust focused on urban retail real estate, has acquired two mixed-use buildings in the Midwood submarket of Brooklyn for $165 million.

Commercial real estate services firm Avison Young has hired Dennis Sherry as senior portfolio manager of the firm's real estate management group. He joins the company from Newmark Knight Frank and is tasked to oversee operations and bolster client relationships.

New York-based owner and developer The Moinian Group launched its groundbreaking ceremony on Thursday to begin construction on the Hudson Arts Building in the West Chelsea submarket.

Silverstein Properties, a New York-headquartered real estate development, investment and management company, has welcomed Goldman Sachs real estate executive Dino Fusco to the company as chief operating officer to help grow the firm's global footprint.

The median sale price for a single-family home rose 6.9% from $379,900 in January 2019 to $406,000 in January 2020. The median price for a condominium in the Commonwealth spiked 10.4% from $366,250 in January 2019 to $404,500 in January 2020.