Real Estate Journal — New Jersey — October 16 - 29, 2015 — 5B
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M id A tlantic
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UPCOMING NEW JERSEY SPOTLIGHTS!
With plans to renovate into 51, loft-style apartments Dinallo and Russo purchase former Annin Flag factory
November 13th, 2015 CENTRAL NEW JERSEY DEADLINE: October 30th
ERONA, NJ — D&R Verona, LLC , a joint venture between Di- nallo Construction Cor- poration and Russo Devel- opment , has acquired the former Annin Flag factory on Bloomfield Ave. in Verona. The building has been vacant since Annin Flagmakers relocated its manufacturing operations in 2013. D&R plans to renovate the exist- ing building into 51, loft-style apartments and construct a new building with 68 ad- ditional units on an adjacent property it also acquired. The project, Annin Lofts, will respect the history of Annin & Co., the oldest and largest flag maker in the United States, by restoring the building with the highest quality materials, interior finishes, landscaping, and outdoor living spaces. Annin Lofts is the third joint venture between Di- nallo Construction and Russo Development. The venture recently obtained approval to build 52 rental apartments and 6,100 s/f of retail space in the center of downtown Ruth- erford, and 111 apartments with 1,800 s/f of retail space on a vacant lumber yard at the Waldwick train station. “We are happy about our venture with Dinallo Con- struction and we look for- ward to creating quality residential communities with them,” said Ed Russo , Rus- so’s chief executive officer. “Our families have enjoyed a great relationship for over 30 years and we look forward to continuing it well into the future.” “We are excited to be work- ing together againwith Russo Development,” said Donald Dinallo , president and chief executive officer of Dinallo Construction Corporation. “The Dinallo and Russo fami- lies share the common goal of building the highest quality projects with a personal in- terest and attention to every detail.” Russo Development is one of the most active, privately held developers of industrial, data center, and multifamily properties in New Jersey. Dinallo Construction Cor- poration, through its parent company Terminal Con- struction Corporation , is one of the top 400 full service construction companies in the United States. n V
December 11th, 2015 NORTHERN NEW JERSEY DEADLINE: November 27th
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Annin Lofts rendering
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