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NEWARK-Tucker Development Corp. is poised to enter the New Jersey market, and in a very big way. Officials of the Chicago-based company say are prepared to invest as much as $1.5 billion in New Jersey retail, mixed-use and transit-oriented projects and development opportunities, and have established a physical presence with a new regional office here.

“We have opened an office in New Jersey and are prepared to invest in the market,” confirms Richard Tucker, president and CEO of the 12-year-old company, referring to the new location in this city’s Downtown, at 50 Park Place. “We view New Jersey as offering tremendous prospects in urban, transit-oriented and smart-growth development and redevelopment.

“With our organization’s retail and mixed-use expertise, along with our patient capital designed to invest in new development and acquisition opportunities, we expect strong deal flow in the state,” Tucker says. TDC is best known in the Midwest, where it has put together a portfolio of retail and MXD properties topping the four-million-sf mark. Much of that is in the Chicago area, although the company also has holdings in Wisconsin, Michigan and Pennsylvania.

And TDC may be looking to partner up in the right situations. “In the current market, where liquidity continues to dry up and many real estate developments have slowed or come to a complete halt, we will consider strategic partnership opportunities,” says Lee Peyser, a principal of TDC who heads the new local office. “Tucker Development has the capital and experience resources in place to move quickly.”

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