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IN THE NEWS: New NJ Commercial Real Estate Record Set

Posted on April 15th, 2011 | Author: Tim McKeown

NJ BIZ reports: New Jersey has new record for highest per square foot sales price for commercial real estate.  This week, Hartz Mountain Industries sold two 12-story buildings in the Colgate Center, 70 and 90 Hudson St., in Jersey City, totaling 827,318 square feet, to CB Richard Ellis Investments for $310 million, or $375 per square foot.  According to Real Capital Analytics, this is the highest rate on record for New Jersey.