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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.
Telegraph Tower, developed by TMG Partners and endorsed by mayor Libby Schaaf as a key element of Uptown Oakland's development, provides 875,000 square feet of next generation office space.
High construction costs and market saturation all point to a recession within the next year as developers and other industry players travel back and forth to the drawing board to figure out when a slowdown of economic activity will happen and how to best prepare.
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.