Blueprint for growth Experts say right investments can spur economic master plan to success

Earlier this month Gov. Phil Murphy appeared at ON3, the campus and biotech office space located on the 116-acre former Hoffman-LaRoche site that spans the Clifton-Nutley border, and unveiled an economic development plan he said will &#8220set New Jersey on the path to a stronger and fairer future where innovation and diversity are at the. . .

Qualified Opportunity Zone funds shaping up as win-win for neighborhoods, investors

A federal Opportunity Zone program that is able attract the investments needed to rejuvenate economically depressed areas may also be a bonanza for investors, real estate developers and consultants, according to some experts.

Third Point Campbell Soup split possible

New York-based hedge fund Third Point LLC said in a presentation Tuesday that it will consider splitting Campbell Soup Co. into two &#8220better focused&#8221 companies&#8212Grocery and Snacks&#8212should it successfully replace Campbell&#8217s board of directors with its own independent slate.

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Murphy's state economic goals to echo at Jersey City Summit

As the Murphy administration unveils plans to overhaul how the state attracts outside businesses, Jersey City&#8217s local officials and businesses are eyeing how the city could potentially serve as a standard-bearer for the state.

CBRE market leader with South Jersey oversight to retire

Bob Walters, CBRE market leader for the Greater Philadelphia region since 1984, will retire at the end of this year, the commercial real estate company announced Tuesday.

Sewell Wawa nets 5.4M

A Wawa store near Rowan University in Sewell has sold for 5. 4 million, Marcus Millichap has announced.

Asbury Farms sells Washington properties for 16.2M

The Village Shoppes at Hawk Pointe and Hunterdon Medical Office Building in Washington have sold for 16. 2 million to Larken Associates, HFF has announced.

CBRE arranges 880K Manville sale

CBRE has announced the sale of two mixed-used, multifamily properties in Manville, totaling a combined 8,000 square feet, for 880,000.

Four Springs secures 75M credit facility

Four Spring Capital Trust, an internally managed real estate investment trust focusing on industrial, medical, retail and office properties, has obtained a three-year revolving credit facility affording the Lake Como-based company 75 million in borrowing capacity.

PetSmart comes out in support of 'Bijou's Law'

PetSmart Inc. has commended the efforts of proposed legislation Assembly Bill 3044, or &#8220Bijou&#8217s Law,&#8221 which would require pet grooming licenses for services including bathing, brushing, clipping or pet styling for compensation.

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Experts debate pros and cons of doing business in NJ at EisnerAmper summit

Putting a new twist on the 1980s tourism campaign, a panel of experts from the public and private sectors offered insights into the opportunities and challenges New Jersey offers for businesses at the eighth annual EisnerAmper New Jersey Business Summit on Thursday night in Iselin.

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Cannatalks panelist 4.2B invested in legal cannabis in last year

About 6 billion has been invested in the nation&#8217s legal cannabis market, according to Jeanne Sullivan, general partner at cannabis investment firm Arcview Group in Oakland, Calif. Compare that to this time last year, when 1. 8 billion had been invested and, she said, &#8220you can see it&#8217s torquing. &#8221

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Hackensack office center secures 4 new tenants

The 250,000-square-foot RiverView Office Center in Hackensack acquired four new tenants, according to an announcement from leasing agent Cushman Wakefield.

Campbell chairman Third Point's Loeb 'self-serving'

Campbell Soup Co. Chairman Les Vinney sent a letter to shareholders Thursday urging them to vote for the company&#8217s existing board of directors at its annual shareholder meeting Nov. 29.

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NJ pension fund won't divest Nike shares following Kaepernick ad

Managers of New Jersey&#8217s 78 billion public worker pension fund said Thursday they will not divest from Nike stock, following requests by a member in September who was displeased with the shoe company&#8217s ad featuring former NFL quarterback Colin Kaepernick.

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ATC applicant HillviewMed receives investments from two NJ retail families

HillviewMed, one of the applicants for six New Jersey Alternative Treatment Center licenses to be announced after Nov. 1, has received strategic investments from two New Jersey retail families.

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Art Factory owners secure 12.5M loan from Silver Arch, Procida

Silver Arch Capital Partners and Procida Funding Advisors LLC have announced the closing of a 12. 5 million loan to the owners of a 170-year-old former factory complex in Paterson.

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Art Factory owners secure 12.5M loan from Silver Arch, Procida

Silver Arch Capital Partners and Procida Funding Advisors LLC have announced the closing of a 12. 5 million loan to the owners of a 170-year-old former factory complex in Paterson.

Sax to hold annual real estate industry update Nov. 1

Clifton-based accounting, tax and business advisory firm Sax LLP will host real estate industry professionals to discuss the current and future state of New Jersey&#8217s real estate market.

Seven CFOs honored as tops in their field at NJBIZ event

Being a CFO is more than just numbers on paper &#8212 it&#8217s being a valued part of strategic planning and development of the organization, according to Tony Panico, partner at the tax and audit firm WithumSmithBrown PC.

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Bressler, Amery Ross launches cannabis practice group

Florham park-based Bressler, Amery Ross launched a cannabis practice group Tuesday.

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Murphy, Teva Pharmaceuticals, formalize NJ headquarters move

The Murphy administration and Teva Pharmaceuticals have &#8220formalized&#8221 an agreement to move the company&#8217s U. S. headquarters to Parsippany, a move that is expected to generate 843 jobs in the state and retain another 232 positions.

CBRE 2018 strong year for NJ manufacturing real estate

Boosted by the sale of a Jersey City manufacturing property, the real estate services and investment firm CBRE is forecasting 2018 to be one of the strongest years for New Jersey&#8217s manufacturing real estate market.

Employers can ease the burden for lower-income employees, United Way report shows

Although 89 percent of New Jerseyans live above the poverty line, only 61 percent can make ends meet, according to a United Way report released Monday.

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PharmaCann has footprint in seven states, and wants to make New Jersey its eighth

If previous success is any indication of how an applicant will fare in New Jersey&#8217s current alternative treatment center application process, PharmaCann need not worry.

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CBRE secures 19.5M in financing for South Brunswick industrial

CBRE has arranged a 19. 5 million loan for a nearly completed, 305,598-square-foot warehouseindustrial facility in South Brunswick.

Trio of companies relocating to Ridgefield Park

Kumon North America, Beigene USA and KB Insurance have all signed long-term leases at 55 Challenger Road in Ridgefield Park, the KABR Group and Kushner Cos. have announced.

Article doubles NJ space with Jersey City move

Article is relocating its distribution center to Jersey City from Elizabeth in a move that finds the furniture and decor brand more than doubling its footprint in the state.

Lawmakers consider tax credits to bolster historic preservation

Lawmakers want to help finance the rehabilitation and redevelopment of New Jersey&#8217s historic properties through a new tax credit similar to one unveiled by Gov. Phil Murphy on Oct. 1.

PSEG buys Newark lot for 1M

Sitar Realty Co. -TCN Worldwide of Iselin has announced the purchase of a vacant lot in Newark by the statersquos largest utility.

At Women Entrepreneurship Week, 'you're not going to go down easy'

Unable to access money via ATM a few months ago, Nicki Radzely, co-founder of binky company Doddle Co. , contacted her bank only to find out that she had been miscategorized as having done business with North Korea.

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HFF sells Cedar Knolls office building

Holliday Fenoglio Fowler LP has announced the sale of a 120,000-square-foot Cedar Knolls office building.

The Ponds at Jackson Twenty-One opens doors to Sandy victims

Matrix New World Engineering has announced the opening of housing at The Ponds at Jackson Twenty-One in Jackson to accommodate residents of the state impacted by the destruction wrought by 2012&#8217s Superstorm Sandy.

Jersey City Bayfront redevelopment project receives approval

Jersey City&#8217s purchase of approximately 70 acres of land from Bayfront Redevelopment properties has been approved, Mayor Steven Fulop announced.

HOK opens Summit office

Global design and architecture firm HOK has opened its 24th location in Summit.

Flemington hotel completes 1M renovation

The independently owned Travel Inn Suites in Flemington has announced the completion of a 1 million renovation.

Advance Realty expands headquarters with 5 new hires

Advance Realty has announced the addition of two directors to its Bridgewater office.

Stop Shop recalls store brand salsa

Stop Shop voluntarily recalled three types of its store brand salsa over potential quality concerns.

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651 residences announced for Bayonne's MOTBY

A total of 651 rental residences are set for the former Military Ocean Terminal at Bayonne, following Monday&#8217s announcement of the closing on 14 acres at the site by a joint venture partnership.

Amazon hiring event coming to Gloucester County

As part of its recently announced efforts to add 9,000 employees in New Jersey, Amazon will hold a hiring event at its Logan Township fulfillment center next Wednesday, the company announced Monday.

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NJBIZ Lists Engineering Firms Office Buildings

View the 2018 Engineering Firms and Office Buildings lists in the Oct. 15 issue of NJBIZ.

South Jersey the new frontier

High prices and a crunch in available space elsewhere in the state have helped to make South Jersey the &#8220it&#8221 market for industrial real estate, according to several real estate experts contacted by NJBIZ.

Demographics, other factors helping to spur suburban revival

Migration from the suburbs to urban areas &#8212 a pattern that&#8217s ruled for more than a decade &#8212 may finally be turning around, according to a report from the Edward J. Bloustein School of Planning and Public Policy at Rutgers University.

The evolving office space

Edwin Cohen, a principal in the real estate firm Prism Capital Partners LLC, has seen the evolution of office space from up close during his 56 years in the business.

Newark said most socially impactful site for Amazon

Picking Newark as the site of Amazon&#8217s second North America headquarters would have a &#8220strong positive social impact&#8221 on the online retail giant, according to a new social responsibility report by the nonprofit Just Capital.

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New law untangles regulatory knots for New Jersey's hair braiders

Brigitte Nzali doesn&#8217t recall a time she didn&#8217t know how to braid. Her mother taught her as a child in Cameroon, as soon her fingers were agile enough.

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Lizura takes on senior vp role at NJPAC

Tim Lizura, former president of the New Jersey Economic Development Authority, will serve as senior vice president of real estate and capital projects for the New Jersey Performing Arts Center, the theater announced Monday.

PSS adds 4 senior directors

PSS, a Warren-based architecture, engineering and environmental consulting firm, announced several key hires Monday, including the addition of Harry &#8220Ted&#8221 Osborne to a key position on its senior management committee as senior director of the company&#8217s Building Services Group. He will report to president and CEO John Sartor.

Panepinto makes 10M donation to Saint Peter's, largest in school's history

Saint Peter&#8217s University on Friday announced it received the single largest philanthropic gift in the school&#8217s 150-year history &#8212 10 million from Joseph Panepinto, president and chief executive officer of Jersey City-based Panepinto Properties and a member of the Saint Peter&#8217s Board of Trustees.

EDA seeks to breathe new life into vacant malls, office parks

As millennials, jobs and money flock from the suburbs and to cities, the New Jersey Economic Development Authority wants to help redevelop the malls, corporate campuses and shopping centers that have been left behind and now sit empty.

Brennan heads to CBRE NY leadership team

Kimberly Brennan has joined CBRE as senior managing director, a part of the commercial real estate company&#8217s New York leadership team.

NAI James E. Hanson negotiates Montvale office building sale

NAI James E. Hanson has announced the sale of a 14,000-square-foot office building at 500 Craig Road in Montvale.

Newark industrial development site sells for 8.2M

A 4. 5-acre land parcel adjacent to Newark Liberty International Airport in Newark has sold for 8. 205 million.

Lidl to open 3 NJ stores within 4 weeks

International discount grocer Lidl will open three New Jersey stores over the course of four weeks, starting Oct. 31.

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Prime members in North, Central Jersey can now order groceries online

Amazon and Whole Foods Market on Wednesday launched grocery delivery in North and Central Jersey through the e-commerce company&#8217s Prime Now service.

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Irvington medical properties secure 4.4M

Progress Capital said Tuesday that it has secured a 4. 43 million permanent mortgage to refinance two adjacent Irvington medical office properties and purchase the land on which one resides.

Amazon primed for holiday season with NJ hiring event

Amazon will hold a hiring event Wednesday in Elizabeth as it works towards a goal of hiring for more than 9,000 part-time and seasonal positions in New Jersey.

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A Cubed inks deal for Fair Lawn industrial

A Cubed LLC is leaving Wood Ridge for Fair Lawn following its purchase of an industrial building there, NAI James E. Hanson has announced.

Princeton's Center for Jewish Life completes renovation

Princeton University&#8217s Center for Jewish Life has completed a refurbishment and energy-efficient renovation, improving about 17,800 square feet of building area.

Park Avenue Club celebrates new event spaces

Florham Park private dining facility The Park Avenue Club has expanded its offerings with the opening of two new event spaces.

HFF arranges 8.8M refinancing for Eatontown office building

Real estate company Holliday Fenoglio Fowler LP has announced the 8. 8 million refinancing of 4 Industrial Way W. in Eatontown.

Omni America purchases Newark affordable housing units

Garden Spires and Spruce Spires in Newark have been sold to New York-based affordable housing developer Omni America LLC.

QuickChek coming to former industrial Cranford site

Rochelle Park-based Tulfra Real Estate said it has completed acquisition and financing to bring a QuickCheck to 370 North Ave. E. in Cranford.

Camelot of Cinnaminson gets 38M refinance

The New Jersey regional office for NorthMarq Capital has announced a 38 million refinance for Camelot of Cinnaminson.

AFR promotes Brandao and Packer

American Financial Resources Inc. announced Monday the promotion of Laura Brandao to president and Bill Packer to chief executive officer for the Parsippany-based lender.

Meridian Capital arranges 258M in financing for Lakewood company

Accurate Builders amp Developers of Lakewood has received 258 million in acquisition and construction financing for multifamily properties in Bayonne, Raritan and Linden.

6 NJ Mattress Firm locations to shutter in initial closures

Six New Jersey Mattress Firm locations will close immediately as a result of Mattress Firm&#8217s Chapter 11 filing announced Friday.

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Mattress Firm to put 700 stores to sleep nationwide

Houston-based Mattress Firm will close up to 700 stores nationwide leading up to the holiday season &#8220to strengthen its balance sheet and optimize its store footprint,&#8221 according to an announcement made by CEO Steve Stagner Friday.

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Lidl purchases Bergenfield site

International grocery store Lidl has purchased a former Bergenfield ACME Market site for an undisclosed amount, according to RIPCO Real Estate and Kampler Advisory Group.

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Lidl purchases Bergenfield site

International grocery store Lidl has purchased a former Bergenfield ACME Market site for an undisclosed amount, according to RIPCO Real Estate and Kampler Advisory Group.

Rutgers Camden seeks construction of business school building

Rutgers University Camden Chancellor Phoebe Haddon, on Thursday, discussed plans to construct a building to house the Camden campus&#8217 business school.

Phased-in marijuana tax still an option, Scutari says

The option to phase in a marijuana tax over the course of several years is not off the table, according to Sen. Nicholas Scutari.

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NJ to tax online shopping

Gov. Phil Murphy signed a law Thursday requiring out-of-state online sellers to collect sales tax.

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Real estate magnate Jay Kislak dies at 96

Jay Kislak, chairman of the Kislak Organization real estate company, died Wednesday at his home in Miami. He was 96.

Toys R Us IP to be acquired by investors

A group of investors led by intellectual property holding company Geoffrey LLC is set to acquire all of Toys R Us Inc. &#8217s intellectual property.

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Experic sets plans for Cranbury manufacturing, packaging facility

In advance of its official opening later this year, pharmaceutical supply services provider Experic has leased a 45,500 square foot, state-of-the-art Class A research, manufacturing and packaging facility in Cranbury.

Hamilton Township is All Play USA

Hamilton Township has been selected as the locale for All Play USA LLC&#8217s flagship facility, the company said Tuesday.

Rodriguez joins Burlington Stores board

UCI Networks President and COO Jessica Rodriguez has joined the board of directors and corporate governance committee of Burlington Stores Inc. , it was announced Tuesday.

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Amazon to pay employees at least 15 an hour

Amazon will pay all its employees at least 15 per hour beginning in November, the company announced Tuesday.

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Small contractors get lift with SBA surety bonds subscriber content

On Oct. 1, the SBA will lower surety bond fees for the first time in 12 years, giving small contractors the opportunity to compete even better with the big dogs.

Ascena Retail Group hires new SVP, general counsel

Ascena Retail Group appointed Wendy Hufford as senior vice president and general counsel on Monday, effective immediately.

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Artech acquires CDI Corp. business unit

Morristown-based Artech Information Systems has acquired the Talent Technology Solutions business unit of Philadelphia-based CDI Corp.

Small contractors get lift with SBA surety bonds

Over the last 10 years, Ocean Construction in Marmora has worked on more than 100 federal construction jobs. Its specialty is National Historic Landmarks &#8212 things like roofing at Washington&#8217s Headquarters Museum in Morristown and masonry at Thomas Edison&#8217s house in West Orange.

OP-ED How contractors can benefit from NJ's new P3 law

On Aug. 14, New Jersey Gov. Phil Murphy signed into law into legislation that expands the possibility for government entities to enter into agreements with private companies. The public-private partner-ships P3 legislation is intended to help address the state's growing infrastructure needs and foster economic growth.