14A — March 2024 — Owners, Developers & Managers — M id A tlantic Real Estate Journal
www.marej.com
O wners , D evelopers & M anagers
Construction and development firm kicks off renovation of the lower bowl Skanska starts work to renovate MetLife Stadium in East Rutherford, New Jersey
E AST RUTHERFORD, NJ — In preparation for FIFA World Cup 2026, Skanska has initiated work on a project to renovate the lower bowl of MetLife Sta - dium. The stadium and seat - ing modifications will enlarge the playing field to meet the necessary FIFA size require - ments, enabling the stadium to host eight games through - out the tournament, including the prestigious Final. “We are thrilled to continue building upon our long-stand - ing partnership with MetLife Stadium and to play an integral
this latest undertaking poses the unique and exciting chal - lenge of making the necessary adjustments needed to meet FIFA requirements. And we now know, this will include the honor of helping prepare the stadium to host the FIFA World Cup Final.” The extensive project scope includes the demolition of four corners of existing precast seating throughout the sta - dium and the installation of a new modular steel composite seating system with related comprehensive mechanical, electrical, audio visual, and
plumbing adjustments. Ad - ditionally, the project includes the removal of 1,740 perma - nent seats to expand the field’s dimensions for FIFA World Cup 26 matches, and the re - placement of those seats on the modular system which will maintain current NFL seating quantities and layouts. To prioritize existing sta - dium activity and team sched - ules, construction will be com - pleted in two phases. Phase I commenced this past January and is projected for completion in May 2024. Phase II will begin in January 2025 and is projected to reach completion in May 2025. MAREJ Marcus & Millichap sells Union City multifamily prop. for $2 Million
MetLife Stadium
role in ensuring the stadium is well-equipped to host the up - coming FIFA World Cup,” said Sean Szatkowski , executive
vice president, general man - ager, Skanska USA Building . “Having begun our initial work at MetLife Stadium in 2010,
721 6th St.
UNION CITY, NJ — Mar- cus & Millichap announced the sale of an 11,400 s/f multi - family property in Union City. The asset sold for $2 million. "Union City remains a sound investment, being in one of the densest cities of the country with a very tight rental mar - ket. This deal became highly attractive to our purchaser due to the current cashflow and attractive financing we fa - cilitated with the seller,” said Jonathan Zamora . “Running our wide-reaching marketing process, we were able to go into a contract with no con - tingencies and close quickly, achieving our sellers' goals, which other local brokerages had previously failed to meet in marketing the listing." Zamora, an investment specialist in Marcus & Mil - lichap’s New Jersey office, had the listing to market the property on behalf of the seller and procured the buyer, both private investors. Located at 721 6th St., this three-story multifamily prop - erty is situated in Union City within walking distance to Washington Square Park and is three miles to Hoboken and Jersey Heights. MAREJ
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