December 2025

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ISSUE HIGHLIGHTS Volume 37, Issue 12 December 2025 BLUE ROCK DELIVERS 358K S/F CLAYMONT, DE PROJECT

Major two-building industrial development planned at 2554 Route 206 NAI Mertz brokers Rockefeller Group’s 100-acre land acquisition in Pemberton

by Klear, who played a key role in the acquisition. Klear and Scott Mertz , president,

EMBERTON, NJ — NAI Mertz announced that Jonathan Klear ,

will be rep- resenting the project, offering ten- ants an op- portunity to locate within a strategical- ly positioned logistics hub

senior vice president, and Fred Meyer , ex- ecutive vice president, facilitated Rockefeller Group’s ac- quisition of

NORTHERN NJ REGIONAL FOCUS 12-15A ANNUAL REVIEW

Jonathan Klear

Fred Meyer

in southern New Jersey. “Working with Rockefeller Group on this transaction has been truly rewarding,” said Klear. “206 Logistics Center is expected to be a significant addition to the industrial mar- ket offering excellent access to major transportation corridors such as Route 206, I-295 and the New Jersey Turnpike, as

a 100-acre development site in Pemberton. The site is located at 2554 Route 206. Rockefeller Group plans to de- velop a 486,850 s/f industrial project on the site across two buildings NAI Mertz will mar- ket the project, 206 Logistics Center, for build to suit, lease or sale. The transaction was facilitated

206 Logistics Center rendering

well as a strong labor pool,” he added. The development will offer modern industrial space de- signed to meet the evolving needs of logistics and distri-

bution users. The buildings will offer 36’ clear and 40’ clear ceiling heights, ample trailer parking, ESFR sprin- kler systems and 3,000 amps of power. MAREJ

Section B

UPCOMING CONFERENCES JAN 15, 2026 NJ HEALTHCARE & MEDICAL PROPS CONFERENCE FEB 19, 2026 NJ CRE FORECAST CONFERENCE MARCH 2026 SNJ CRE FORECAST CONFERENCE For speaking & sponsorship info., please contact: Lea at 781-740-2900 or lea@marejournal.com

JLL & CBRE launch major Newark redevelopment offering: 1,000 units & new 250,000 s/f Horizon HQ

Plaza East, currently the site of office properties owned by NJ TRANSIT and Horizon.

vacant, enabling development of the 3-acre riverfront parcel into a premier multi-housing community. Both development sites will be located nearby the well-connected Newark Penn Station, NJ’s second-largest train station served by both AMTRAK and NJ TRANSIT. JLL and CBRE invite in- terested developers to reg- ister by December 31, 2025, to request the Confidential Information Memorandum (CIM), which outlines the potential opportunity. Those who receive the CIM may be invited to a future In- formation Sharing Event (ISE) to review timeline details, evaluation crite- ria, sample financial mod- els, and submit questions. Both the CIM and ISE are for informational purposes only and do not constitute a solici- tation or professional advice. JLL is representing NJ TRANSIT in the transaction; and CBRE is representing Ho- rizon Blue Cross Blue Shield. “Horizon and NJ TRAN- SIT have been neighbors for 30 years and it is very gratifying to be part of a

coordinated effort that re- sults in both organizations remaining in Newark while advancing the City’s rede- velopment aspirations,” said Gil Medina , executive VP of CBRE. “As technology continues to improve how Horizon serves its mem- bers, the company’s new headquarters will allow it to operate more efficiently and in a smaller footprint, while offering its employees and guests a modern, col- laborative environment in the heart of Newark.” “This project is the real- ization of many months of discussion on transforming two older office buildings at a premier waterfront location with unobstructed views of the NY skyline into a vibrant mixed-use development,” said Ron Simoncini , executive VP of JLL. “The ASPIRE program facilitates just this sort of op- portunity, and in addition to our gratitude to the amazing collaboration of Horizon and NJ TRANSIT, the Murphy Administration deserves credit for energizing the development community.” MAREJ

NEWARK, NJ — JLL and CBRE, Inc. are working to- gether on behalf of NJ Transit

The project plan also in- cludes a new single-ten- ant 250,000 s/f class A building that would serve as Horizon’s new head-

and Horizon Blue Cross Blue Shield of New Jer- sey (Hori- zon) to so- licit interest in a poten- tial premier mixed-use

Ron Simoncini

Gil Medina

quarters in Newark. Both the redevelopment and office building sites will require approvals from the City of Newark and need to satisfy other regulatory requirements. The potential project anticipates utilizing New Jersey Economic De- velopment Authority ’s AS- PIRE Transformative Project program, a powerful tax-credit incentive designed to close financing gaps for large-scale, mixed-use projects that drive long-term urban revitaliza- tion. Under the ASPIRE pro- gram, only one applicant may apply, but that entity can be comprised of a joint venture. Both Penn Plaza properties are assumed to be delivered

development opportunity that would result in a new residential complex of up to 1000 units at 1 and 3 Penn