With summer officially in our rearview mirrors, we wanted to take a quick moment to highlight some of the incredible accomplishments and milestones that together, with you, our partners, we’ve been able to achieve. To say the least, it’s been an exciting and fast-paced 2019 and we’re looking forward to keeping that momentum going throughout the second half of the year!
Our efforts and work in Jersey City, New Jersey continued in May, where we broke ground on RIVET 2, the second phase of our University Place redevelopment efforts. Once completed, RIVET 2 will offer nearly 200 luxury units and will feature retail space as well. Our efforts are helping the city transform this area to attract tenants in search of a beautiful place to live, with amenities and access to public transit. You can read more about our vision for Jersey City here on our blog.
Further north, in Syracuse, New York, Circle Squared teamed up with The Hampshire Companies for an exciting self-storage project – the 10thself-storage project between our firms. Alongside Hampshire, we acquired a vacant, 135,000 square-foot retail building that was the former site of a Sam’s Club wholesale store. With construction now underway, we’ll be bringing a state-of-the-art, 860-unit self-storage facility to nearby residents. CubeSmart will manage the facility and we hope to celebrate its opening early 2020.
Circle Squared Alternative Investments has been part of the acquisition or development of nearly 2,500 residential units over the years. Keeping in line with our commitment to multi-family, we also recently broke ground, with our partners The CrownPoint Group and the Hampshire Companies, on a 180,000 square-foot development in beautiful Netcong, New Jersey. The first multi-family project between our three firms was 221 Bergen Street in Harrison, New Jersey, which benefitted from what we believe to be a very quick lease up. Our Netcong location will offer 126 units with various in-demand amenities included single garage parking. The site is very well located and is within close proximity to mass transit options and easy access to some of NJ’s most traveled roadways. With Netcong just 40 miles outside of Manhattan, the city offers an incredible opportunity for those who are in search of rural living with direct access to the city for work and play as needed. You can read more about the project here on MultiHousing News.
Lastly, one of the most exciting milestones in our firm’s history took place this August as we celebrated the opening of The MC Hotel in Montclair. An ambitious undertaking, The MC Hotel was a joint project between Circle Squared, Hampshire and Pinnacle and is one that’s been years in the making. While the MC Hotel is our third hotel project, it was nonetheless an incredibly proud moment to be joined by 100 special guests as our CEO, Jeff Sica, stood alongside James Hanson, CEO of The Hampshire Companies, Brian Stolar, CEO of Pinnacle, Robert Jackson, the Mayor of Montclair, and Todd Cilano, the COO of The Aparium Hotel Group, to officially cut the ribbon and open the hotel for business. Offering 159-rooms boasting world-class amenities, and over nine stories of luxury from the ground floor to the rooftop bar with unparalleled views of the New York City skyline, the MC Hotel is truly the crown jewel of the city and an accomplishment that should be celebrated by all our investment partners. You can read more about the opening here at New Jersey Business magazine.
As always, we remain dedicated to you – our investment partners and family – and will apply the utmost diligence as we find, vet and present what we think are the best possible investment opportunities for your portfolios. At Circle Squared, there’s always something around the corner, so do stay tuned for future updates on the exciting new projects we’re bringing to life.
About Circle Squared Alternative Investments
Circle Squared Alternative Investments LLC (“Circle Squared”) is a registered investment adviser with the Securities and Exchange Commission (SEC) and was founded in 2014 by Jeffrey Sica to work with a finite group of high net worth individuals and family office investors to help them find alternative market investments, primarily in private equity real estate deals. Led by a team with decades of experience, Circle Squared or its affiliates have been a joint venture member, consultant or otherwise involved with over $800,000,000 in real estate developments and transactions since its founding. The leadership of Circle Squared has been a part of the acquisition, or development of over 5,000 residential units throughout their careers. For more information, visit www.circlesquaredalts.com.
The past performances of Circle Squared and its affiliates are not indicative of the future results of the Company, the Joint Venture or the Project. Registration does not imply a certain level of skill or training.
About The Hampshire Companies
The Hampshire Companies is a full-service, private real estate firm based in Morristown, New Jersey. The Hampshire Companies is a vibrant, dynamic organization that combines creative vision and superior execution, thereby enabling it to create and enhance value in real estate investments. Additional information on The Hampshire Companies is available online at www.Hampshire.com. To stay connected with The Hampshire Companies and for updates on the latest transactions and news follow the company on Facebook, Twitter @hampshireco, and LinkedIn.
About Pinnacle
The Pinnacle Companies worked with the Township of Montclair to create the Montclair Center Gateway Redevelopment Plan, known as CentroVerde, which includes The MC Hotel and the mixed-use Valley & Bloom project. A privately-held regional real estate development firm, Pinnacle is based in Montclair, NJ, where the firm has developed The Siena mixed-use condominium building on the site of the former Hahne & Co. department store. Other notable Pinnacle projects in New Jersey include Maxwell Place, a 1,000,000 square foot mixed-use project on the site of the former Maxwell House coffee factory in Hoboken, developed as a joint venture with Toll Brothers. Pinnacle has also joined with Brookfield Property Partners to purchase The Wellmont Theater in Montclair, a live performance venue built in 1922. The theater will serve as the anchor for a planned mixed-use arts and entertainment development. www.pinnaclecompanies.net