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$70.4M Sale Of NJ Mall Means $155.7M Loss For Investors, Report Says $70.4M Sale Of NJ Mall Means $155.7M Loss For Investors, Report Says
$70.4M Sale Of NJ Mall Means $155.7M Loss For Investors, Report Says Seventy million may seem like a lot. But context is everything. New Jersey's troubled Woodbridge Center sold to an unnamed buyer for $70.4 million in February, according to credit-rating firm Kroll. While the sale resolved a loan issue, investors suffered a $155.7 million loss, Kroll Bond Rating Agency (KBRA) said. In 2015, the 1.7 million-square-foot mall was acquired by Brookfield when it was appraised at $366 million, according to CoStar, a DC-based commercial real estate firm that analyzes market trends. The February 2024 sale was even lower than its most recent appraisal last Oct…

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by Cecilia Levine
Business
Cotton Candy Heaven: Newswoman Finds Sweet New Calling With Jersey Shore Biz Cotton Candy Heaven: Newswoman Finds Sweet New Calling With Jersey Shore Biz
Cotton Candy Heaven: Newswoman Finds Sweet New Calling With Jersey Shore Biz Have a hankering for cotton candy? You're in luck. Billie Rama of The Asbury Park Cotton Candy Co. is leasing a new production space exclusively for cotton candy lovers. Until now, Rama has been mobile only, operating a cotton candy table at parties, movies, and special events. Here is what Billie Rama's cotton candy table looks like when she "spins" at special events.Provided/ Billie Rama She organized this GoFundMe page to help defray the costs of setting up a permanent facility to expand and streamline her production. She started production at 909 Asbury Ave. Unit D on Thursday, Ma…

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by Jon Craig
News
Feds: NJ, NY Postal Workers Stole Credit Cards To Buy $1.3M In Luxury Items For Online Resale Feds: NJ, NY Postal Workers Stole Credit Cards To Buy $1.3M In Luxury Items For Online Resale
Feds: NJ, NY Postal Workers Stole Credit Cards To Buy $1.3M In Luxury Items For Online Resale Three U.S. Postal Service workers from New Jersey and New York City masterminded a scheme to buy more than $1.3 million worth of designer clothes and accessories using credit cards that they stole from the mail, federal authorities charged. The items were then sold with the help of an entrepreneur who operated an online shopping site, they said. Nathanael Foucault, Johnathan “Junzie-J” Persaud, and Fabiola “Lady Fab” Mompoint passed the cards to a quintet of shoppers who bought the items at department stores in New Jersey and the city with the stolen credit cards, an indictment returned by …

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by Jerry DeMarco
News
Companies Selling Honey Tainted With Drugs Used To Fight Erectile Dysfunction: FDA Companies Selling Honey Tainted With Drugs Used To Fight Erectile Dysfunction: FDA
Companies Selling Honey Tainted With Drugs Used To Fight Erectile Dysfunction: FDA The US Food and Drug Administration (FDA) issued warning letters to four companies that allegedly illegally sold honey-based products that could contain drug ingredients found in erectile dysfunction medication. Testing by the FDA found that products being sold throughout the East Coast could pose a significant health risk to consumers due to the presence of drug ingredients that can be found in Cialis (tadalafil) and Viagra (sildenafil). Officials noted that those drugs are used to treat erectile dysfunction and are “restricted to use under the supervision of licensed health care professio…

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by Zak Failla
News
Amazon Announces 5 New NJ Delivery Sites Amazon Announces 5 New NJ Delivery Sites
Amazon Announces 5 New NJ Delivery Sites More amazing news on the Amazon jobs front. The giant internet retail outlet announced five new future delivery sites as it opened its Linden delivery station in Union County.  Two new delivery sites will be in Middlesex County, two are targeted for Burlington County and one is planned in Mercer County, Amazon said in a press statement.  Amazon's newest delivery locations, all set to open in 2021, are at: 2473 Old York Road - Building 1 in Bordentown; 343 Half Acre Road in Cranbury; 400 Delran Parkway in Delran; 1115 King Georges Post Road in Edison; and  10 Princess Road …

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by Jon Craig