• Sun. Jun 16th, 2024

New Jersey Economic Agency Sets Aside $25 Million To Help Redevelop Vacant Malls, Office Parks

Bynewsmagzines

May 11, 2023
Pharmaceutical giant Merck's hexagonal former headquarters in rural Whitehouse Station, New Jersey, was once considered a "stranded asset." The vacant building was on the market several years before finally selling. (CoStar)

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The New Jersey Economic Development Authority has established a $25 million fund to support the redevelopment of vacant malls, suburban office parks and hospital facilities in an effort to revitalize such so-called stranded assets and make them viable commercial real estate again.

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