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26°
Friday, jan 31
Tag:
Commercial Real Estate
Business
Starbucks Now Open At New ON3 Campus, Report Says: See The Renderings
ON3 is shaping up. A brand-new 2,500-square-foot Starbucks has opened at the mixed-use property, which spans Clifton and Nutley, purchased by Prism Capital Partners nearly a decade ago, as first reported by NorthJersey.com. The outlet says that the Starbucks is located off Route 3 and the main highway access road to Metro Boulevard. The 118.7-acre property formerly home to Hoffmann-La Roche sits across both Clifton (67.39 acres) and Nutley (51.31 acres), according to an update on the project from Prism Capital Partners last July. "The current commercial and academic occupants of the…
Business
$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…
Business
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…
Business
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…
News
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…
News
'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…