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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
Phillipsburg Bowling Alley Sets Final Closing Date As QuickChek Deal 'In The Works' Phillipsburg Bowling Alley Sets Final Closing Date As QuickChek Deal 'In The Works'
Phillipsburg Bowling Alley Sets Final Closing Date As QuickChek Deal 'In The Works' A beloved Phillipsburg bowling alley will soon be demolished and replaced with a 24-hour QuickChek. Warren Lanes at 671 Memorial Pkwy. will close its doors on Monday, July 31, its president Bill Reese posted on its Facebook page. Hi everyone, It appears the Quick Check deal is in the works. Our last day of business will be July 31. Thank you to all for your support. Bill Reese Posted by Warren Lanes on Wednesday, July 19, 2023 Phillipsburg officials approved the plan to demolish the building and replace it with a 24-hour QuickChek complete with 16 gas pumps and a pair of charging port…

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by Valerie Musson
Business
Chipotle, Starbucks, Panera Locations Proposed For Former G&H Property In Sussex County Chipotle, Starbucks, Panera Locations Proposed For Former G&H Property In Sussex County
Chipotle, Starbucks, Panera Locations Proposed For Former G&H Property In Sussex County The former G&H property in Sussex County may be getting new Chipotle, Starbucks and Panera locations. The Town Council in Newton made residential and commercial ordinances for a PILOT (‘Payment in Lieu of Taxes’) plan at the location on Water and South Park Drive, NJHerald reports. The commercial and residential portions of the property will be divided for separate ownership, according to the report, which cites Town Manager Thomas S. Russo. In addition to 100 market-rate rental units, the proposal includes a plan for a pair of one-story commercial buildings with a maximum square foota…

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by Valerie Musson
News
SALE PENDING: Toby's Cup In Phillipsburg Will Soon Have New Owners SALE PENDING: Toby's Cup In Phillipsburg Will Soon Have New Owners
Sale Pending: Toby's Cup In Phillipsburg Will Soon Have New Owners Sales are pending for Toby’s Cup, a small and beloved hot dog stand in Phillipsburg. The family-run shack that opened back in the 1940s on Route 22 will soon be under new ownership, LehighValleyLive reports. The buyer is 37-year-old Livingston (Essex County) native Daniel Risis, who reports say owns a successful pawnshop business in the Garden State and is the “driving force” behind an up-and-coming flea market outlet in Phillipsburg. The sale of Toby’s Cup includes the stand itself along with the surrounding area on Route 22 in Lopatcong Township, reports say. The sale price has not been…

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by Valerie Musson
News
'Secret Double Life' Clifton Dad Calls Boozy NYC Sex-Party Story Smear Campaign 'Secret Double Life' Clifton Dad Calls Boozy NYC Sex-Party Story Smear Campaign
'Secret Double Life' Clifton Dad Calls Boozy NYC Sex-Party Story Smear Campaign It seems more than coincidence to Avraham Adler of Clifton that in the week between the Jewish new year and Day of Atonement, a news report was published claiming he led a secret double life. The New York Post story describes noisy, booze-filled orgies at a townhouse that Adler owns in the East Village. It also paints two entirely different pictures of Adler: One is as a devout Jewish father of three -- with a fourth on the way -- and the other a sex-crazed bachelor. Adler says the story is "just a shmear[sic] campaign [by the New York Post] to gain attention" and "gossip to draw attentio…

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by Cecilia Levine