The sale of a 3,600-square-foot retail building in Waldwick ushers in the arrival of a new bank branch. NAI James E. Hanson announced the transaction involving 53 Franklin Turnpike May 6. According to the commercial real estate firm, Chase will continue its New Jersey expansion with the launch of its first Waldwick location at the site. Vice Presidents Anthony Cassano and Dirck Hecker represented the seller, Villa Restaurant Properties, in the transaction with Chase. Financial terms were not disclosed. The retail building includes a drive-thru lane, NAI Hanson said, while also offering abunda ..read more

After pleading guilty to selling $1 billion worth of illegally imported, fake Cisco networking equipment, the chief executive officer of dozens of companies in New Jersey and Florida received a sentence of six-and-a-half years in prison. In addition to 78 months behind bars, Onur Aksoy, a joint U.S. citizen and Turkish national, received three years of supervised release and was fined $40,000 during a May 1 appearance before U.S. District Judge Peter Sheridan. Under the terms of a plea agreement, the 40-year-old Miami resident agreed to pay restitution of $100 million to Cisco. The court will ..read more

Wholesome snack maker Our Home is adding another brand to its lineup. In a May 3 press release, the Boonton-headquartered company announced it acquired Sonoma Creamery. The cheese and snack producer is based in California’s famed wine country. In addition, Our Home gained a production facility and warehouse from Sonoma Creamery, bringing its total manufacturing footprint to eight sites nationwide. Founded 93 years ago, Sonoma Creamery got its start as a fresh cheese producer. Then, in 2014, the brand launched a crispy, crunchy high-protein baked cheese snack. The line – which is made from all ..read more

There’s new space available in the Meadowlands submarket, following Woodmont Industrial Partners’ completion of a multimillion-dollar renovation effort. Woodmont announced the delivery of 30,000 square feet of upgraded space at 2 Terminal Road in Lyndhurst May 6. According to the Fairfield-based company, the location offers an ideal spot for companies setting up last-mile delivery operations. The firm acquired the space in 2022. It is located at the intersection of Routes 3 and 17, which sets up access to New York City and regional ports as well as other major highways. In its State of the U ..read more

The New Jersey Economic Development Authority (NJEDA) celebrated last week’s Small Business Week announcing new stats on a recently launched program and holding an event. The NJ Capital Access Fund has approved 42 working capital loans totaling more than $3.6 million since launching in November, the NJEDA announced. The State Small Business Credit Initiative (SSBCI) program and a private capital match support the $100 million fund. The program offers technical assistance and an affordable and flexible working capital loan product by leveraging Community Development Financial Institutions (CDF ..read more

During an April 30 NJBIZ Construction & Development Panel Discussion, experts offered advice on taking precautions during uncertain times as well as insights into the industry, its challenges and opportunities. Editor Jeffrey Kanige moderated the virtual event, joined by: Chris Erb, executive vice president and head of development, Russo Development  Donald Hoffman, partner, EisnerAmper  Lisa Lombardo, director, Business & Commercial Litigation Group, Gibbons PC  Michael Leondi, vice president of construction & design, Rockefeller Group  James Thaon, principal ..read more

The U.S. Drug Enforcement Administration is taking steps to reclassify marijuana as a lower-risk substance, a move that could open more avenues for medical research and make it easier for cannabis businesses to turn a profit. Cannabis is currently a Schedule I narcotic – meaning it’s deemed to have no accepted medical use and a high potential for abuse. But the federal agency recommended April 30 that the substance be designated as a Schedule III drug following a review by the U.S. Department of Health and Human Services, multiple outlets reported. The DEA’s move comes eight months after HHS ..read more

The basics: Newark Liberty International Airport’s new $2.7 billion Terminal A recently received two prestigious recognitions, including a five-star rating and the title of the world’s best new airport terminal. The project represents the Port Authority’s largest single investment in New Jersey and the state’s largest design-build project. What’s next? Plans include the transformation of Terminals B and C, along with the replacement of AirTrain Newark, enhanced public transit access and more. In recent weeks, preeminent global airport evaluation firm Skytrax has twice recognized the new Term ..read more

The basics: The HAX program, overseen by Princeton-based SOSV, has opened its U.S. headquarters in Newark. SOSV aims to take 100 hard tech startups through its the program over the next five years, providing substantial support and investment. Company officials said they chose the Brick City because they “wanted world-class talent close to some of the largest industries in the world.” The HAX program, overseen by Princeton-based venture capital firm SOSV, marked the opening of its U.S. headquarters with a ribbon-cutting ceremony in Newark last week. HAX is a startup accelerator that provides ..read more

As the youngest president of the Associated Builders and Contractors of New Jersey, one of my goals is to bring new, diverse, faces to the construction industry, and that includes introducing more women to this traditionally male-dominated field. Right now, women make up just 14% of the construction workforce in the U.S. and 1% of chief executives in the field. DeAlmeida Roman However, the future of the construction industry is changing, as more and more women are now choosing construction careers, according to recent statistics. In fact, according to the Institute for Women’s Policy Research ..read more