New Jersey
Wells Fargo Lends $227M on New Jersey Industrial Projects
A three way partnership between Advance Realty Traders and Greek Growth has landed a $227 million debt bundle to develop two industrial initiatives in New Jersey, the partnership introduced early Tuesday.
Wells Fargo offered a $142 million mortgage for the second part of the JV’s 1.32 million-square-foot Linden Logistics Heart challenge in Linden, N.J. The sponsors additionally nabbed an $85 million mortgage from Wells Fargo for the third part of Logan North Industrial Park in Logan Township, N.J., which is slated to complete 3.2 million sq. toes.
Cushman & Wakefield’s John Alascio, T.J. Sullivan and Chuck Kohaut organized the transaction.
“We’re excited to shut these loans, due to our longstanding relationship with Advance, even on this unstable capital markets setting,” David Greek, managing associate of Greek Growth, stated in a press release. “The success we’ve had in leasing Linden and Logan to date speaks volumes concerning the tempo of demand for strategically situated warehouses in New Jersey and the power for us to ship true financial worth to our strategic companions and the communities we construct in.”
Positioned at Linden Logistics Method, Linden Logistics Heart is scheduled for completion within the second quarter of 2023 with part II anticipated to be delivered by the top of this yr. CBRE’s Tom Monahan, Larry Schiffenhaus and Stephen D’Amato are the present leasing brokers for the challenge.
The partnership’s third part of Logan North Industrial Park, situated at 700 Crossroads Boulevard, is ready to have the third part accomplished within the third quarter of 2023. JLL’s Nate Demetsky, Dean Torosian and Matt Kemery deal with leasing for the park.
“We’re grateful and humbled to have lengthy standing relationships with nice companions throughout the brokerage, lending, and fairness capital markets area,” Alexander Cocoziello, principal and managing director at Advance Realty Traders, stated in a press release. “They’ve regularly stepped up and executed when referred to as upon and our growth partnership appears ahead to extra alternatives to develop collectively sooner or later.”
Officers for Wells Fargo didn’t instantly return a request for remark.
Andrew Coen may be reached at acoen@commercialobserver.com.
Thursday, December 26, 2024 3:23PM
NewsCopter 7 was over the scene as crews worked to repair the sinkhole in Wharton, New Jersey.
WHARTON, New Jersey (WABC) — A sinkhole opened up on Interstate 80 in New Jersey during rush hour Thursday morning, shuttering eastbound lanes in Morris County.
The sinkhole opened up around 7:45 a.m. near Exit 34, swallowing a portion of the shoulder and encroaching on the right lane.
There is no word on how long the emergency repairs will take.
Drivers should plan to take the following detour:
- Motorists on I-80 eastbound are being directed to take Exit 34 to Route 15/Wharton/Dover/Sparta
- Stay right following signs for Route 15/Jefferson/Dover/Sparta
- Stay in the left lane on North Main Street to Route 15 southbound/To I-80/Dover
- Merge onto Route 15 southbound
- Stay left to take the exit to I-80 eastbound
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California DMV rolls out digital driver’s license pilot program
Program allows a driver’s license on your phone. Director of California’s DMV talks about how it works, how it transforms airport check-in experience.
Fox – Ktvu
In the age of digital wallets and contactless convenience, a growing number of states are embracing the option to add driver’s licenses and state IDs to Apple Wallet.
These digital IDs can be added to iPhone users’ Wallet app alongside digital credit cards, boarding passes and event tickets.
New Jersey, though, isn’t one of them.
What states have Apple Wallet IDs?
As of now, several states have partnered with Apple to enable digital IDs. They can be added directly to Apple Wallet and used in airports, businesses, or government offices.
For instance, TSA checkpoints at several airports, including LaGuardia, JFK and Newark Liberty, already take digital IDs, and more are being added.
But, New Jersey doesn’t yet have digital driver’s licenses.
In early 2024, state lawmakers moved a bill directing the state’s Motor Vehicle Commission to develop digital driver’s licenses. But that measure gives the state six years to make it happen. The bill is winding its way through the legislative process.
Apple, though, continues to expand partnerships with more states to create Wallet-compatible IDs.
Connecticut, for example, was one of the first states to announce a digital ID rollout but hasn’t yet launched it. Lawmakers in West Virginia, New Mexico and Montana have said digital driver’s licenses are a priority.
2-minute read
How rare is a white Christmas and how long has it been for some cities
A white Christmas means more than 1 inch of snow is on the ground on Christmas day, but how frequently does this occur?
New Jersey experienced a frosty December — and Christmas has proved no exception.
Christmas morning temperatures accross the Garden State dipped into the low to mid-20s in much of the state, and even into the teens in higher elevations, forecasters said. While most towns saw little to no overnight snow accumulation, some lucky areas awoke to a white Christmas.
How much snow did North Jersey see?
Snowfall leading up to Christmas was light but enough to dust parts of the state with festive flurries. Bergenfield reported one of the highest accumulation, measuring 1 inch of snow on Christmas Eve. Nearby, Ramsey recorded 1.1 inches, and Sparta with 1.6 inches of snowfall.
In New Providence, Paramus and Stewartsville, snow totals were less than an inch, with each town reporting between 0.6 and 0.8 inches. Somerset logged an inch, while Wantage received 1.3 inches.
For those dreaming of a white Christmas, Bergenfield, Ramsey, Sparta and Wantage offered picturesque views, with enough snow to blanket the ground in holiday cheer. Meanwhile, other areas in the state settled for a chilly but snow-free holiday.
Whether blanketed in white or simply bundled up, New Jersey residents should brace for continued cold as the year comes to a close.
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