The REALTORS® Commercial Real Estate Market Survey measures quarterly activity in the commercial real estate markets. The survey collects data from commercial REALTORS®. The survey is designed to provide an overview of market performance, sales and rental transactions, along with current economic challenges and future expectations.
Friday, July 31, 2015
REALTOR® Safety Matters for Commercial Professionals
By: Philip McGinnis, ACoM, ALC, CCIM
While the most publicized physical attacks on real estate agents have involved residential agents, commercial agents are equally at risk. Additionally, it’s important to remember that not all safety and security risks are external.
Currently, many markets are faced with a high office and industrial vacancy rate. These properties present huge risks to REALTORS® because... Read More
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Sabre Real Estate arranges lease for first Thomaston Feeds Pet Supply in N.J.
A holistic pet food store has leased space in River Vale, making it the company’s first location to take root in New Jersey.
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Vornado declares quarterly dividend
Paramus-based Vornado Realty Trust announced Friday that its board of trustees has declared a quarterly dividend.
Thursday, July 30, 2015
Marcus Millichap arrange sale of apartment building in Jersey City
Marcus Millichap announced the sale of an 8-unit apartment property in Jersey City for 970,000, according to Brian C. Hosey, regional manager of the firm’s New Jersey office.
Investors Bank arranges financing for two buildings
The commercial real estate lending group of Short Hills-based Investors Bank recently arranged more than 31 million in financing for a pair of New Jersey properties, it announced earlier this month.
Vornado completes 580M refinancing of 1.1M sq. ft. property in Manhattan
Vornado Realty Trust announced Thursday that it has completed a 580 million refinancing of a 1. 1 million-square-foot property in the Manhattan Mall.
Wednesday, July 29, 2015
With help from variety of funding sources, Foodtown coming to Elizabeth
A mix of government agencies and private institutions are funding a new development project to bring a major supermarket and shopping center to Elizabeth, according to Valley National Bank.
With help from variety of funding sources, Foodtown coming to Elizabeth
A mix of government agencies and private institutions are funding a new development project to bring a major supermarket and shopping center to Elizabeth, according to Valley National Bank.
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High-end sneaker store coming to Jersey City
A sneaker and apparel store has signed a lease for 2,861 square feet in Jersey City, real estate brokerage Sabre Real Estate Group LLC said recently.
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MJ Innovations relocates to Sanzari-owned Norwood industrial portfolio
Norwood-based MJ Innovations LLC announced Wednesday that it is expanding and relocating its home base from the Bronx, New York, to Norwood.
High-end sneaker store coming to Jersey City
A sneaker and apparel store has signed a lease for 2,861 square feet in Jersey City, real estate brokerage Sabre Real Estate Group LLC said recently.
NAI Mertz names chief operating officer
NAI Mertz announced Wednesday that it has appointed David Grove its chief operating officer.
Tuesday, July 28, 2015
Wyndham earnings rise, beating expectations
Wyndham Worldwide Corporation said Tuesday its earnings rose 13 percent in the second quarter of 2015, topping analysts' expectations.
Real estate investors wary of tax changes Say limiting Section 1031 would slow down sector
“What is your favorite section of the Internal Revenue Code?” It's an odd question for most people, but not for many real estate investors and professionals. Without hesitation, they would point to Section 1031, which enables someone to sell a property and defer taxes on capital gains if the proceeds are used to buy another like-kind. . .
Heller breaks ground on new industrial building in South Brunswick
Heller Industrial Parks has broken ground a new 285,000-square-foot industrial building in South Brunswick, hoping to capture more of the white-hot market for warehouse and distribution space.
Monday, July 27, 2015
Branding company buys second location in Moorestown
A promotional product branding company has purchased a Moorestown building as its second facility, according to real estate services firm Colliers International.
Monmouth's Reinhart chosen for endowed chair in real estate policy
Peter Reinhart, the popular head of Monmouth University's real estate program, has been named to an endowed chair in the field.
NAI Hanson inks lease deal for industrial building in Carlstadt
NAI James E. Hanson announced Monday it has facilitated a full-building lease agreement with KS Trading Corporation at a newly-renovated industrial building, located at 495 Barell Ave. in Carlstadt.
East Orange multifamily portfolio fetches 5.5M
Four East Orange multifamily properties have been sold for a total of 5. 5 million, according to the commercial real estate brokerage firm CBRE Group Inc.
The DAK Group specializes in middle-market MAs
Michael Spingeld — former chief executive officer and president of Craftmaster Hardware in Northvale — wanted to grow his third-generation, security supplies distribution company. So he decided to sell it.
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Made in the U.S.A.
With more than 80 percent of the U. S. carpet market controlled by mills in Georgia, Alex Peykar knew his multimillion-dollar Saddle Brook-based manufacturing company was missing out.
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Friday, July 24, 2015
Accounting firm acquires Linwood office condo
An accounting firm has added a Linwood location, taking space at the Linwood Commons complex, Wolf Commercial Real Estate said Friday.
CBRE Group arranges 7.7M in refinancing for retail center in Monroe Township
Commercial real estate brokerage CBRE Group Inc. announced Friday that its Capital Markets Debt Structured Finance team has completed 7. 7 million in refinancing secured by a community retail center in Monroe Township.
Thursday, July 23, 2015
Brown Brothers Harriman moving to new Jersey City location
Brown Brothers Harriman is moving its Jersey City Waterfront offices to Harborside Plaza 5, according to building owner Mack-Cali Realty Corporation.
Flooring retailer opens first N.J. location
An Atlanta-based flooring retailer is opening its first New Jersey store on Thursday in Wayne, it announced recently.
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WCRE brings tenant to Cherry Hill business center
Wolf Commercial Real Estate announced Thursday that it has completed a lease transaction at the Colwick Business Center in Cherry Hill.
Flooring retailer opens first N.J. location
An Atlanta-based flooring retailer is opening its first New Jersey store on Thursday in Wayne, it announced recently.
CarePoint Health enters into partnership with Reliance Medical Group
CarePoint Health, the operator of three urban Hudson County hospitals, is spreading its reach to southern New Jersey with a new partnership set to be unveiled Thursday.
Wednesday, July 22, 2015
Cardiovascular Consultants expands Hasbrouck Heights office
A cardiology practice has expanded its space at Heights Plaza in Hasbrouck Heights, according to building owner Alfred Sanzari Enterprises.
Montclair's Pinnacle Cos. buys historic theater will close it until Sept. for renovations
The Pinnacle Cos. , one of the most active developers in Montclair, has acquired the historic Wellmont Theater in the township and has launched a major renovation of the property.
Eastern Union Funding arranges 17.78M financing for six-building portfolio in North Jersey
Commercial mortgage brokerage Eastern Union Funding announced Wednesday that it has arranged 17. 775 million to refinance six apartment buildings in North Jersey.
Mack-Cali tops analyst estimates, though funds from operations slip
Mack-Cali Realty Corporation said Wednesday that its funds from operations in its fiscal second quarter of 2015 slipped slightly from the year-earlier period, but still beat analyst estimates.
Christie announces national finance team, including several New Jerseyans
Gov. Chris Christie, who announced the New Jersey Finance Leadership Team for his presidential campaign in June, on Wednesday unveiled the members of his national team, including seven from the Garden State.
Vision Real Estate closes 315,000 sq. ft. of leases
Vision Real Estate Partners announced it has closed on a total of 315,000 square feet of leases during the first half of 2015, according to Sam Morreale, founder and managing partner of the Mountain Lakes-based firm.
Tuesday, July 21, 2015
In Newark, choice of residential projects trumps one big building, panelists say
If critical mass is what Newark needs to fuel its long-awaited renaissance, the city is well on its way to achieving that.
Newark real estate leaders tout city's momentum, success at industry event
As Jeff Schotz will tell you, Panasonic never had to be sold on Newark before it announced plans to move there in 2011. It was just a matter of finding a location that fit the company's vision for the future.
Warren-based architecture and engineering firm hires three new architects
Paulus, Sokolowski and Sartor, a Warren-based architecture and engineering firm, announced it has hired architects Charles Clauser, Harry Wright and Stephen Sgro in its Cherry Hill office.
Louis Berger selected for 3rd phase of road project in Senegal
A Louis Berger-led business unit has recently been selected by The Millennium Challenge Account to implement the third phase of a major road rehabilitation program in Senegal.
Monday, July 20, 2015
NorthMarq arranges 51.85M refinance of multifamily property in Hackensack
Commercial real estate firm NorthMarq Capital announced Monday that it has arranged the 51. 844 million refinance of Excelsior II, a 267-unit multifamily property with commercial spaces located in Hackensack.
Connell Foley happy to be back in Newark
While many firms are focused on the future, one firm with deep roots in the state has gone back to where it started.
Equal billing
When Sandra Brown Sherman, Julian Wells, Anthony Sylvester and Andrew Stamelman left a well-established law firm to start their own just over a year ago, they knew they would be leaving many perks behind. One, they did willingly The cushy corner office.
Go with the flow
Bill Kaufman kept a careful watch outside his industry as the construction market collapsed around him in 2008.
The chain gangs
YO! Sushi, a London-based “kaiten” sushi bar that distinctively delivers Japanese dishes to customers via conveyor belt, has 87 restaurants worldwide in the United Kingdom, Ireland, Norway, Denmark and the United Arab Emirates.
Benjamin Moore opens new distribution center in Maryland
Montvale-based Benjamin Moore Co. , a manufacturer of paint and a Berkshire Hathaway company, announced Monday that it has opened a new distribution center in Landover, Maryland.
Montvale-based AP files for chapter 11 bankruptcy
The Montvale-based parent company of AP has filed for bankruptcy for the second time since 2010, as the iconic supermarket chain reportedly seeks to sell its remaining 300 stores.
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Friday, July 17, 2015
Little Gym leases space in Clarksboro
The Little Gym child development center has leased 4,200 square feet in a Clarksboro shopping center, Wolf Commercial Real Estate said Friday.
Thursday, July 16, 2015
NorthMarq finalizes 16M refinance of Wallington Plaza
MorthMarq Capital announced Thursday it has arranged 16 million in refinancing for the Wallington Plaza, a 92,823-square-foot retail property in Wallington.
Wednesday, July 15, 2015
Sabre Real Estate Group doubles N.J. presence, buying Anderson Realty
Sabre Real Estate Group, a New York state-based retail brokerage firm, has acquired Bayonne-based Anderson Realty Services LLC, bolstering its presence in New Jersey less than a year after opening its first Garden State office.
Amazon reportedly leases North Jersey warehouse
Amazon has crept even farther north in New Jersey in its quest for high-speed delivery.
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Amazon reportedly leases North Jersey warehouse
Amazon has crept even farther north in New Jersey in its quest for high-speed delivery.
Fitness club signs lease at Hackensack shopping center
A Title Boxing Club franchise has leased space at Summit Plaza in Hackensack, according to Alfred Sanzari Enterprises, owner and manager of the shopping center.
CarMax planning store in Wayne, report says
National used-car chain CarMax is considering building a store on Route 23 in Wayne, according to a published report.
Tuesday, July 14, 2015
Investment services firm leases office space at KABR, Kushner building in Ridgefield Park
Global investment services firm Franklin Templeton Investments has leased 13,000 square feet at 55 Challenger Road in Ridgefield Park, according to building owners KABR Group and Kushner Cos.
Powerhouse Transformed Into Amenity Center at Whippany Complex
WHIPPANY, NJ–The Crossings at Jefferson Park has been transformed from a powerhouse into a stand-alone community amenity center, furthering the Whippany office property’s distinctive work/play environment.
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A Farm Grows Vertically in the Ironbound, Feeding Imaginations
NEWARK, NJ—A novel approach to the challenge of creating urban agriculture got underway in a heavily industrial section of New Jersey’s largest city today. State and local officals joined executives of AeroFarms for the groundbreaking of the company’s 69,000 square-foot, $30 million vertical farm facility in the Ironbound section. Watch our exclusive video news report.
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A Farm Grows Vertically in the Ironbound, Feeding Imaginations
NEWARK, NJ—A novel approach to the challenge of creating urban agriculture got underway in a heavily industrial section of New Jersey’s largest city today. State and local officals joined executives of AeroFarms for the groundbreaking of the company’s 69,000 square-foot, $30 million vertical farm facility in the Ironbound section. Watch our exclusive video news report.
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Powerhouse Transformed Into Amenity Center at Whippany Complex
WHIPPANY, NJ–The Crossings at Jefferson Park has been transformed from a powerhouse into a stand-alone community amenity center, furthering the Whippany office property’s distinctive work/play environment.
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Office Space Will Become Multifamily in Jersey City
JERSEY CITY, NJ— A 45,000-square-foot, 10-story office building in Jersey City, 880 Bergen Ave., will be transformed into a multifamily development following a $5.7 million sale brokered by CBRE.
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C&W: Vacancy in NJ Industrials Lowest in Six Years
EAST RUTHERFORD, NJ—Vacancy in the New Jersey industrial real estate market at mid-year 2015 dipped below eight percent for the first time in more than six years, and occupancy gains finished in the green for the tenth consecutive quarter, according to Jason Price, tristate research director for Cushman & Wakefield.
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Modification of Alimony Due to Retirement
During the course of divorce proceedings, alimony from the supporting spouse to the dependent spouse is typically calculated based on a variety of factors. The income of the two spouses is a critical factor in determining the amount of alimony to be paid. However, some incomes are not guaranteed and can change over time. One of the most common scenarios in which the income of a spouse can change is due to retirement. Following one’s retirement, a spouse can petition the court to modify the alimony payments they either receive or pay. However, there are an additional set of factors the court must consider in permitting alimony payments to be modified if the parties were divorced prior to September of 2014.
The leading case in New Jersey addressing the modification of alimony is Lepis v. Lepis (1980), which states that “the party seeking modification [of alimony] must demonstrate that changed circumstances have substantially impaired the ability to support himself or herself.” Furthermore, the court will look at the party’s circumstances at the time of the divorce (when the alimony was determined) and at the time of application for the modification of alimony to see any differences in the circumstances between these two dates.
Because retirement is one of the leading causes for a petition for the modification of alimony to be filed, there are cases in New Jersey that have laid out a series of factors to determine whether or not the retirement of one of the spouses warrants alimony to be modified.
First, in Dilger v. Dilger (1990), the court concluded that the appropriate factors to be considered are: the reasonable expectations of the parties at the time of the agreement, whether the supporting spouse was planning retirement at a particular age, and the opportunity given to the dependent spouse to prepare to live on the reduced support.
Next, in Deegan v. Deegan (1992), additional factors were set forth for consideration in determining whether retirement warrants modification of alimony. These factors include the following: the age of the party, the health of the party, his or her motives for retiring, the timing of their retirement, his or her ability to pay maintenance even after retirement, and the ability of the other spouse to provide for him or herself.
Finally, in Silvan v. Sylvan (1993), a few more factors were added, including whether, at the time of the divorce, any attention was given by to the parties to the possibility of future retirement, whether retirement was mandatory or voluntary, and whether the particular retirement occurred earlier than might have been anticipated at the time alimony was awarded.
The age of retirement in New Jersey (for those born after 1960) is 67, the full social security retirement age. Retirement at the age of 67 will still initiate an analysis of the above factors if the retiring party wants to have alimony modified.
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Powerhouse Transformed Into Amenity Center at Whippany Complex
WHIPPANY, NJ–The Crossings at Jefferson Park has been transformed from a powerhouse into a stand-alone community amenity center, furthering the Whippany office property’s distinctive work/play environment.
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A Farm Grows Vertically in the Ironbound, Feeding Imaginations
NEWARK, NJ—A novel approach to the challenge of creating urban agriculture got underway in a heavily industrial section of New Jersey’s largest city today. State and local officals joined executives of AeroFarms for the groundbreaking of the company’s 69,000 square-foot, $30 million vertical farm facility in the Ironbound section. Watch our exclusive video news report.
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A Farm Grows Vertically in the Ironbound, Feeding Imaginations
NEWARK, NJ—A novel approach to the challenge of creating urban agriculture got underway in a heavily industrial section of New Jersey’s largest city today. State and local officals joined executives of AeroFarms for the groundbreaking of the company’s 69,000 square-foot, $30 million vertical farm facility in the Ironbound section. Watch our exclusive video news report.
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Powerhouse Transformed Into Amenity Center at Whippany Complex
WHIPPANY, NJ–The Crossings at Jefferson Park has been transformed from a powerhouse into a stand-alone community amenity center, furthering the Whippany office property’s distinctive work/play environment.
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Office Space Will Become Multifamily in Jersey City
JERSEY CITY, NJ— A 45,000-square-foot, 10-story office building in Jersey City, 880 Bergen Ave., will be transformed into a multifamily development following a $5.7 million sale brokered by CBRE.
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C&W: Vacancy in NJ Industrials Lowest in Six Years
EAST RUTHERFORD, NJ—Vacancy in the New Jersey industrial real estate market at mid-year 2015 dipped below eight percent for the first time in more than six years, and occupancy gains finished in the green for the tenth consecutive quarter, according to Jason Price, tristate research director for Cushman & Wakefield.
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Modification of Alimony Due to Retirement
During the course of divorce proceedings, alimony from the supporting spouse to the dependent spouse is typically calculated based on a variety of factors. The income of the two spouses is a critical factor in determining the amount of alimony to be paid. However, some incomes are not guaranteed and can change over time. One of the most common scenarios in which the income of a spouse can change is due to retirement. Following one’s retirement, a spouse can petition the court to modify the alimony payments they either receive or pay. However, there are an additional set of factors the court must consider in permitting alimony payments to be modified if the parties were divorced prior to September of 2014.
The leading case in New Jersey addressing the modification of alimony is Lepis v. Lepis (1980), which states that “the party seeking modification [of alimony] must demonstrate that changed circumstances have substantially impaired the ability to support himself or herself.” Furthermore, the court will look at the party’s circumstances at the time of the divorce (when the alimony was determined) and at the time of application for the modification of alimony to see any differences in the circumstances between these two dates.
Because retirement is one of the leading causes for a petition for the modification of alimony to be filed, there are cases in New Jersey that have laid out a series of factors to determine whether or not the retirement of one of the spouses warrants alimony to be modified.
First, in Dilger v. Dilger (1990), the court concluded that the appropriate factors to be considered are: the reasonable expectations of the parties at the time of the agreement, whether the supporting spouse was planning retirement at a particular age, and the opportunity given to the dependent spouse to prepare to live on the reduced support.
Next, in Deegan v. Deegan (1992), additional factors were set forth for consideration in determining whether retirement warrants modification of alimony. These factors include the following: the age of the party, the health of the party, his or her motives for retiring, the timing of their retirement, his or her ability to pay maintenance even after retirement, and the ability of the other spouse to provide for him or herself.
Finally, in Silvan v. Sylvan (1993), a few more factors were added, including whether, at the time of the divorce, any attention was given by to the parties to the possibility of future retirement, whether retirement was mandatory or voluntary, and whether the particular retirement occurred earlier than might have been anticipated at the time alimony was awarded.
The age of retirement in New Jersey (for those born after 1960) is 67, the full social security retirement age. Retirement at the age of 67 will still initiate an analysis of the above factors if the retiring party wants to have alimony modified.
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Powerhouse Transformed Into Amenity Center at Whippany Complex
WHIPPANY, NJ–The Crossings at Jefferson Park has been transformed from a powerhouse into a stand-alone community amenity center, furthering the Whippany office property’s distinctive work/play environment.
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A Farm Grows Vertically in the Ironbound, Feeding Imaginations
NEWARK, NJ—A novel approach to the challenge of creating urban agriculture got underway in a heavily industrial section of New Jersey’s largest city today. State and local officals joined executives of AeroFarms for the groundbreaking of the company’s 69,000 square-foot, $30 million vertical farm facility in the Ironbound section. Watch our exclusive video news report.
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