Booker’s Newark: How has it fared? – Philly.com

In seven years as mayor, Cory Booker has added touches of luster here in the Brick City. Amid still-gritty streets, he has brought name-brand businesses and restaurants, loft apartments, and a glass office tower. His wealthy admirers are … …read more

Source: Booker’s Newark: How has it fared? – Philly.com

Image credit: Ken Lund

Terreno Realty Corporation Acquires Building in Newark, NJ for $15.0 Million – MarketWatch

SAN FRANCISCO, Jul 26, 2013 (BUSINESS WIRE) — Terreno Realty Corporation TRNO -0.16% , an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, acquired an industrial property located in Newark, New Jersey on July 25, 2013 for a purchase price of approximately $15.0 million.

The property consists of one trans-shipment industrial building containing approximately 52,000 square feet on 9.4 acres adjacent to the intersection of the New Jersey Turnpike, Interstate 78 and Routes 1 and 9. The property is at 550 Delancy Street in Newark, is within 2 miles of Newark Liberty International Airport and the Port of Newark and is 100% leased to the market leader in North American less-than-truckload freight services. The property provides 101 dock high loading positions and trailer storage. The estimated stabilized cap rate of the property is 5.6%.

Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally 95%) divided by total acquisition cost. Total acquisition cost includes the initial purchase price, the effects of marking assumed debt to market, buyer’s due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization.

Terreno Realty Corporation is an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets: Los Angeles; Northern New Jersey/New York City; San Francisco Bay Area; Seattle; Miami; and Washington, D.C./Baltimore.

Additional information about Terreno Realty Corporation is available on the company’s web site at www.terreno.com.

Source: MarketWatch

Newark, NJ: Kiva’s Newest Kiva City! – Huffington Post

Jessie Goldenberg, owner of Nomad: The Wandering Fashion Boutique, is used to assisting the large crowd of customers her popular mobile fashion truck usually draws. However, this past Monday she was more than happy to provide a personal shopping session to one customer in particular: Newark, New Jersey Mayor Cory Booker. … …read more

Source: Newark, NJ: Kiva’s Newest Kiva City! – Huffington Post