MSW Land Use Team Secures Planning Board Approval for Industrial Development in East Rutherford

On Monday, September 20th, the East Rutherford Planning Board approved plans in connection with the development of a 47,310 square foot industrial flex building in the I-Light Industrial District. The Board voted to approve both preliminary and final site plan approval, along with certain variance relief in connection with the proposed project.

Chris J. Murphy, Esq. led the firm’s successful efforts on behalf of the development team, which included Paul Mutch, Jacob Lewkowski, and John Corak from Stonefield Engineering, Frederick Kincaid from Jarmel Kizel Architects and Engineers, and professional planner Matt Flynn of John McDonough Associates.

MSW Land Use Team Secures Planning Board Approval for Solar Project in Newark

On Monday, September 13th, the Newark Central Planning Board approved plans for the installation of a 2,996.19-killowat DC roof-mounted solar panel array on an existing 335,428 square foot industrial building in the I-2 Medium Industrial Zone.

Chris J. Murphy, Esq. led the firm’s successful efforts on behalf of the development team.

MSW Partners to Present at NJICLE Seminar Titled “Commercial Real Estate Transactions – From Fist Bump to Closing”

On Friday, September 10th, MSW partners Matthew Schiller and Charles Wilkes will present as part of an all-day NJICLE seminar titled “Commercial Real Estate Transactions – From Fist Bump to Closing.”

This is a “must attend” program if you handle commercial real estate matters. It will be of special interest to attorneys who represent sellers, buyers, commercial real estate owners, developers, contractors, financial institutions, title search companies, insurance companies, and others seeking to hone their skills in this area.

For more information, or to register now, click here or call NJICLE at (732) 214-8500.

MSW Land Use Team Secures Planning Board Approval for Mixed-Use Project in Montclair

On Monday, August 9th, the Montclair Planning Board approved plans in connection with the adaptive reuse of a vacant four-story warehouse building in the C-1 Central Business zoning district. The applicant sought approvals in order to permit the renovation of the existing vacant structure for retail use on the ground floor and office use on the upper floors. The project includes the construction of a 1,953 square foot addition to the third and fourth floors of the building, the installation of new windows and doors, and landscaping in the rear yard.

Chris J. Murphy, Esq. led the firm’s successful efforts on behalf of the development team, which included architect Christopher Manos of Architectura, professional planner Peter Steck, and traffic engineer Lou Luglio of Sam Schwartz. MSW associate Hannah Bartges and land use paralegal Marika Igras also played a critical role in the process.

MSW Land Use Team Secures Planning Board Approval for Car Wash Project in Woodland Park

On Monday, August 2nd, the Woodland Park Planning Board granted preliminary and final site plan approval, along with certain variance relief, in connection with a proposed car wash along US Route 46.

Chris J. Murphy, Esq. led the firm’s successful efforts on behalf of the development team, which included Joshua Sewald of Dynamic Engineering, and Christopher Tait of B. Tait Builders LLC. MSW associate Hannah Bartges and land use paralegal Marika Igras also played a critical role in the process.

MSW Property Tax Update: New Legislation Proposes Amendments to the Garden State Growth Zone Property Tax Exemption Program

Recent proposed amendments to the Garden State Growth Zone (“GSGZ”) property tax exemption program are good news for developers and certain municipalities in the State seeking to take advantage of this important tax incentive. The bill (A5683/S3869) passed both houses on June 30, 2021 and would expand the program by changing three key provisions.

First, the amendment expands eligibility and permits certain municipalities that did not opt-in to the program by the initial deadline in 2013, to opt-in within 90 days of enactment of the legislation. Specifically, the bill expands the definition of a “Garden State Growth Zone” to include a “government-restricted municipality.” This definition includes municipalities with a Municipal Revitalization Index distress score of at least 75 and municipalities designated as urban aid municipalities for the 2019 State fiscal year — specifically, Paterson, Trenton and Atlantic City. The bill allows municipalities designated as a “government-restricted municipality” to opt-in to the GSGZ exemption program, by ordinance, within ninety days of its enactment.

Second, the bill permits expansion of the length of the tax exemption for properties in a “government restricted municipality.” The current program allows for a twenty-year property tax exemption which begins on the date the developer receives the final certificate of occupancy. The amendment would permit extension of the exemption period to thirty years. Importantly, this extension would not only apply to new applications, but also permits the Tax Assessor to extend the prior-existing twenty-year exemption to thirty years.

Finally, the bill extends the construction timeline required under the existing Act for properties in a  “government restricted municipality.” Under the current law, the final certificate of occupancy must be issued within ten years of the enactment of the 2013 Act. This amendment would extend this deadline to fifteen years from enactment.

For more information on the MSW Property Tax Practice Group, please contact Thomas S. Dolan, Esq. at (973) 705-7412 or tdolan@murphyllp.com.

MSW to Present on Real Estate Incentives at NJICLE Seminar

Murphy Schiller & Wilkes LLP (MSW) partners Chris J. Murphy and Matthew J. Schiller are scheduled to present at a NJICLE Seminar on Monday, August 16, 2021. The seminar, titled “Real Estate Incentives That Will Benefit Your Clients” will focused on the recently enacted Economic Recovery Act of 2020, a comprehensive incentives package recently passed into law by the New Jersey State Legislature, and the Opportunity Zones program created under the 2017 Tax Cuts and Jobs Act. Anyone interested in attending can register here: Webcast- Real Estate Incentives That Will Benefit Your Clients (njsba.com)

MSW: Q2 2021 Transaction Highlights

Despite uncertainty in the commercial real estate market going into 2021 due to the COVID-19 pandemic, the Murphy Schiller & Wilkes (MSW) transactional practice groups have had an incredibly busy second quarter. Having closed major transactions in multiple jurisdictions, the firm predicts an increase in transactions in the coming months as the world begins to get back to some form of normal and clients look for opportunities in all asset classes in response to an increase in demand.

We have recently represented the following:

  • Developer in connection with $94,000,000 construction loan for multi-family development in Newark, NJ.
  • Borrower in connection with a $48,500,000 senior lien term loan secured by real estate and business assets located in 4 states.
  • International bank in connection with the closing of a $27,500,000 secured revolving line of credit for New Jersey-based operating entity.
  • Borrower in connection with $17,150,000 loan modification for assisted living facility in Arvada, Colorado.
  • Borrower in connection with $11,950,000 loan modification for assisted living facility in Grapevine, Texas.
  • Developer in sale of $10,000,000 fully entitled development site in Lehigh Valley, PA.
  • International bank in connection with the simultaneous closing of a cross-collateralized $10,000,000 uncommitted line of credit, a $9,000,000+ mortgage loan and a $4,000,000+ mortgage loan to a wholesale distributor, secured by business assets and industrial properties in New Jersey and New York.
  • Seller in connection with sale of $8,100,000 development site in Clifton, NJ.
  • Buyer in connection with $6,600,000 purchase of industrial building in Hillburn, NY.
  • Seller in connection with $6,500,000 sale of retail shopping center in Eatontown, NJ.
  • Purchaser in connection with acquisition of $1,550,000 build-to-suit Dollar General Store NNN property in Sulphur Springs, Arkansas.
  • Tenant in connection with +/- 200,000 SF build-to-suit lease (with purchase option) for distribution center to be constructed in Freehold, NJ.
  • Tenant in connection with +/- 150,000 SF distribution center lease in Robbinsville, NJ.

MSW Land Use Team Secures Multiple Approvals before the Newark Zoning Board of Adjustment

In what was a busy night for the MSW Land Use Team, the Newark Zoning Board of Adjustment granted approvals for three (3) separate projects at the hearing on Thursday, June 24th.

To start the night, the Board granted preliminary and final site plan approval with variances in connection with the construction of a mid-rise residential building consisting of four stories of residential units over one story of parking in Newark’s West Ward neighborhood. In a separate application by the same developer, the Board again granted preliminary and final site plan approval with variances in connection with the construction of another mid-rise residential building consisting of four stories of residential units over one story of parking.

To close the night, the Board granted preliminary and final final site plan approval with variances in connection with the construction of a two-story building to be used as a community center for the non-profit organization Newark Bronze Shields Inc. in Newark’s South Ward.