Integra LifeSciences to acquire Medtronic’s ENT, laparoscopy equipment lines
Integra LifeSciences Holdings Corporation and Medtronic Inc. announced Wednesday an agreement in which Integra will acquire Medtronic’s MicroFrance and Xomed manual ENT and laparoscopy medical equipment lines for approximately $60 million. Read the full story on njbiz.com here.
Owners of long-vacant American Cyanamid site in West Windsor begin redevelopment discussions
Hotels, restaurants, parks, places of worship and schools — these are just some of the possibilities that the owners of the American Cyanamid site on Quaker Bridge Road presented before the Township Council Monday night. Read the full story on nj.com here.
Bristol-Myers announces plans for 650,000 sq. ft. Lawrenceville building
Pharmaceutical giant Bristol-Myers Squibb announced Tuesday that it plans to build a 650,000-square-foot office building in Lawrenceville near the intersection of Interstate 295 and the Princeton Pike on company-owned property acquired back in 2001. Read the full story on njbiz.com here.
Mixed use without residential doesn’t work. After 28 years, Princeton Forrestal Village is proposing multifamily residential units.
“It’s a nice, cute pedestrian village surrounded by a sea of parking that never really succeeded,” Robert Schenkel, senior director of development at Lincoln Equities Group, said. “It was a high-end boutique mall, a discount mall and lots of things in between. It had a lot of different developers over the years and we’re the most recent who think we’re going to succeed.”
Conference sparks talks of triumphs, challenges in New Jersey commercial real estate market
It was around 9 a.m. at RealShare New Jersey, one of the year’s biggest commercial real estate conferences, and Joe Taylor had some friendly advice for the audience.
“If you’re not having fun in real estate right now,” said Taylor, president of Matrix Development Corp., “you ought to leave before lunch.”
Over the past decade, the campus-style complex model slowly became outdated as technological advances, downsizing and outsourcing negated the need for workers to be in an office setting, Advance Realty president and CEO Peter Cocoziello said.
The above is a quote comes from an nj.com article titled: Developer: Plan for Bridgewater’s Sanofi Research Campus will attract young professionals and discusses Advance Realty’s plans to take a former Sanofi U.S. Research and Development Campus and breathe life into it- read the full article here.
Wells Fargo announced Thursday that it plans to invest more than $1.1 million in grants to provide funding toward various Trenton neighborhood revitalization programs. (read full story on njbiz.com here)
Even in the case of Panasonic, which received a well-documented $102.4 million tax credit in 2011 to relocate its North American headquarters to Newark from Secaucus, incentives aren’t always enough to keep a company in New Jersey.
Quality of life. That’s what Elmwood Park-based Sealed Air, a Fortune 500 manufacturer of Bubble Wrap and other packaging, cited last month as one of the main reasons it’s leaving New Jersey for North Carolina.
After talk of leaving the state, a major transportation equipment provider and chassis leasing business has decided it will remain in the township thanks to an incentive grant from the New Jersey Economic Development Authority.
U.S. jobs growth stays on a roll; recovery starts to catch on in N.J.
“The tone of the economy nationally has become more positive, and there’s every reason to expect we’ll get some spillover effect in New Jersey,” said Patrick O’Keefe, an economist with the accounting firm CohnReznick, which has an office in Roseland.
With the creation of 209,000 jobs in July, the nation posted a six-month streak of 200,000-plus new jobs a month — the longest such run since 1997 and a sign that the economic recovery is on solid ground, analysts said. – See more at: http://www.northjersey.com/news/u-s-jobs-growth-stays-on-a-roll-recovery-starts-to-catch-on-in-n-j-1.1061201#sthash.wwDu6sES.dpuf
NJ pharma: Real estate needs to reflect the changing needs of the industry
For Pernix Therapeutic Holdings, it was time to find a new home.
The Houston-based pharmaceutical company had new executives and a new $65 million war chest from investors, paving the way for a growth plan focused on specialty drugs. But that meant moving its headquarters to a state with a labor force that could help it build a new senior management team from the ground up. (read full story on njbiz.com here)
Unemployment dips to 6.6 percent in New Jersey
Officials say New Jersey’s unemployment rate inched down to 6.6 percent in June, its lowest level in more than five years. (read full story on sfgate.com here)
Mercer Oak Realty was in attendance last week at the recently renovated Wyndham Garden on West Lafayette Street in the Capitol City as MIDJersey Chamber welcomed Trenton’s newly-elected Mayor Eric Jackson and learned more about the Trenton250 plan.
Opening remarks were delivered by the Honorable Eric Jackson, a Capitol City native and Fairleigh Dickinson graduate. Jackson had a 17 year career with the City of Trenton before taking the position of City Public Works Director in Plainfield, NJ and then returning to Trenton in July, this time as Mayor.
Mayor Jackson addressed the business community and made it clear that he was grateful for their support and aware of how important local industry is to helping Trenton realize its full potential.
“Having a Mayor in office who understands the role that the local business community can play in the revitalization of Trenton is key. The current GrowNJ tax incentives make Trenton an especially attractive option for a large company headquarters, creating a nearly rent-free scenario for up to 10 years in certain cases. For example, a property we represent, the proposed Vista Center, is an approved 25-story LEED platinum office tower located directed across from the Trenton Transit Center. That incentive package, coupled with a business friendly atmosphere and responsible government is integral to drawing a large company and up to 1,000 employees to Trenton. An influx of professionals spending their days in Trenton, many of them eventually moving there to be closer to work, would do wonders to kick-start the economy.” explains Sab Russo, President of Mercer Oak Realty.
The Trenton250 team presented its concept for achieving a community driven long-range Master Plan to guide Trenton through its 250th Anniversary (which will be in 2042). The concept behind Trenton250 is to gain a deeper understanding and knowledge of Trenton- its strengths and its weaknesses- and use that to create a vision that capitalizes on the city’s unique assets, and addresses its problem areas. Trenton250 is hoping to engage the community in every step of the process through various in-person and online forms.
Check out Trenton250.org to learn more about the plan and become part of the discussion.
We look forward to seeing Trenton move forward into a bright future.
