Yearly Archives: 2011

EAST RUTHERFORD, N.J. - December 29, 2011 - (RealEstateRama) -- Christa DiLalo Petti of East Brunswick, N.J., has joined commercial real estate services firm Cushman & Wakefield, Inc., as an analyst on its New Jersey Research team, announced Gualberto “Gil” Medina, the firm’s executive managing director. Based in East Rutherford, the group conducts primary research, data-driven analysis and forecasting for the state’s Northern and Central counties, which house approximately 183 million square feet of office inventory and 608 million square feet of industrial space.

Jersey City, NJ - December 29, 2011 - (RealEstateRama) -- New Jersey cleaners, joined by top New Jersey elected leaders, will rally today in Jersey City to celebrate their new contract and in support of cleaners in New York City’s commercial buildings who are on the verge of a strike.

EAST RUTHERFORD, N.J. - December 29, 2011 - (RealEstateRama) -- Has recovery finally taken hold? What commercial real estate opportunities and trends will play out in 2012? Those questions and more will be answered by a panel of experts at NAIOP New Jersey's Annual Meeting and Real Estate Forecast, slated for January 24 at the Sheraton Meadowlands, East Rutherford, N.J.

TRENTON, N.J. - December 28, 2011 - (RealEstateRama) -- As part of its on-going commitment to create more community-living options for people with developmental disabilities, the Christie Administration today announced 12 municipal partners of the Special Needs Housing Partnership. These municipalities are the first commitments secured for the initiative launched earlier this year by the New Jersey Departments of Community Affairs (DCA) and Human Services (DHS), and the New Jersey Housing and Mortgage Finance Agency (HMFA). The goal of the Partnership is to create 600 additional units of special needs housing by 2013.

December 28, 2011 - (RealEstateRama) -- The union representing 7,000 office building cleaners around New Jersey is making a last attempt to reach a fair contract for the workers before union members begin preparations to strike. More than two months after the union began negotiations with a consortium of cleaning contractors, the two sides remain far apart on wages and health care coverage. With less than five days remaining before the current contract expires at midnight on December 31st, today is the last scheduled day for bargaining.

JERSEY CITY, N.J. - December 20, 2011 - (RealEstateRama) -- Cushman & Wakefield’s Metropolitan Area Capital Markets Group (CMG) has orchestrated the sale of 10 Exchange Place. The 748,005-square-foot building is a 30-story trophy office tower and a skyline landmark on Jersey City’s Hudson River waterfront.

Trenton, NJ - December 20, 2011 - (RealEstateRama) -- Governor Chris Christie has put forward a common sense policy to finally end the wasteful practice of paying out taxpayer dollars to public workers for unused sick days. These local government obligations have a real and direct cost to property taxpayers, totaling over $1000 for the average property taxpayer in some municipalities. The legislature, now on vacation through the end of the year, has failed to take up these reforms and deliver relief to property taxpayers despite the fact that accumulated sick and vacation liabilities already total over $825 million on municipalities’ books.

WASHINGTON, DC - December 20, 2011 - (RealEstateRama) -- U.S. Rep. Bill Pascrell, Jr. (D-NJ-8) today announced a total of $584,259 in federal Housing and Urban Development (HUD) grants were awarded to local organizations and nonprofit agencies that serve the Eighth Congressional District to provide housing and services to help the homeless.

Haddon Heights, NJ - December 16, 2011 - (RealEstateRama) -- Last week, Congressman Andrews announced $50,000 in federal money that will create skilled trade jobs in South Jersey. These funds will help improve the homes of low-income homeowners in rural areas throughout Gloucester County and make these homes safer by providing much needed repairs. This past September, Congressman Andrews casted his vote in favor of the United States Department of Agriculture’s (USDA) Housing Preservation Grant Program which will provide the funds.

TRENTON - December 16, 2011 - (RealEstateRama) -- Attorney General Paula T. Dow and Criminal Justice Director Stephen J. Taylor announced that an Atlantic City man who formerly worked as a local administrator of the New Jersey Home Energy Assistance (HEA) Program was sentenced today for stealing $9,062 from the program by filing false applications to obtain benefits.

NEWARK, N.J. - December 15, 2011 - (RealEstateRama) -- Diversified Capital has added a broad suite of new tenant amenities being implemented at 24 Commerce Street, the former Federal Trust Bank building in downtown Newark. These new amenities, along with the $5 million building renovations, are part of the company’s overall investment in the historic office structure, which rises 18 stories and encompasses a total of 180,000 square feet.

LAWRENCEVILLE, N.J. - December 15, 2011 - (RealEstateRama) -- Community Investment Strategies (CIS), Inc., the developer, builder and property manager of market-rate and affordable apartment-rental communities throughout New Jersey, has adopted solar-powered energy at three of its’ apartment complexes: Rosegate, Heritage Village at Elizabeth, and Heritage Village at Manalapan. All three senior communities have been retrofitted with photovoltaic solar panels to collect energy for the buildings’ common areas.

UNION CITY/WEST NEW YORK, N.J. - December 13, 2011 - (RealEstateRama) -- New Jersey Housing and Mortgage Finance Agency (HMFA) Executive Director Anthony L. Marchetta today joined Congressman Albio Sires, Mayors Brian Stack of Union City and Dr. Felix Roque of West New York, and other officials to celebrate the grand opening of Horizon Heights, a 52-unit affordable housing community on Broadway in Union City and West New York. The HMFA, an affiliate of the Department of Community Affairs (DCA), provided financing for this project through the Multifamily Rental Housing Program, the Special Needs Housing Trust Fund and through an allocation of federal Low Income Housing Tax Credits.

NEWARK, N.J. - December 12, 2011 - (RealEstateRama) -- Miles Berger (right), chairman and CEO of The Berger Organization, welcomed New York Jets Running Back Shonn Greene as the guest of honor during a broker open house at the 570 Broad office tower in Newark. The early December event drew more than 60 industry professionals.

TETERBORO, N.J. - December 9, 2011 - (RealEstateRama) -- Advance Housing, Inc., a state-funded Community Housing Development Organization, has leased 14,000 square feet for its headquarters at 100 Hollister Road in Teterboro, announced commercial real estate services firm Cushman & Wakefield, Inc. The agency will relocate to the property from Hackensack, N.J., in an expansion move this winter.

WASHINGTON, DC - December 8, 2011 - (RealEstateRama) -- Rep. Scott Garrett (R-NJ), Chairman of the Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises, delivered the following opening statement today at a hearing to review legislation to reform the secondary mortgage market:

Charlotte, NC - December 8, 2011 - (RealEstateRama) -- With the housing market continuing to struggle and fewer consumers being able to purchase a new home or apartment, LendingTree.com, the nation’s leading online lender exchange and personal finance resource, today released data highlighting the average down payments on residential real estate purchases for all 50 states and Washington D.C. New Jersey leads the country with the highest average down payment of 13.76%. The state with the lowest average down payment is North Dakota, where buyers put down an average of 11.37%.

ELIZABETH, N.J. - December 7, 2011 - (RealEstateRama) -- The first nine months of 2011 have seen a 6.1 percent increase in cargo coming into the Port of New York and New Jersey; raising the Bayonne Bridge and replacing the Goethals Bridge are top priorities as the port continues to be a major economic engine; and commercial real estate opportunities still exist relating to the port.

Trenton, NJ - December 6, 2011 - (RealEstateRama) -- As part of the Christie Administration’s continued commitment to rein in the cost of government, maximize taxpayer dollars and provide sustainable property tax relief, Governor Chris Christie today released the Year Two Best Practices Checklist results, which demonstrate that the majority of municipalities are adhering to good governance practices and working to achieve greater efficiencies. These results -- for the approximately 545 municipalities operating on a calendar year budget -- were compiled by the Department of Community Affairs (DCA). Earlier this year, DCA also began working with all 21 counties to complete similar Best Practices Checklists, with results to be released next year.

WASHINGTON, DC - December 2, 2011 - (RealEstateRama) -- U.S. Housing and Urban Development Secretary Shaun Donovan today announced HUD will speed federal disaster assistance to the State of New Jersey and provide support to homeowners and low-income renters forced from their homes following severe storms in October.