Home > Doing Business > Real Estate and Economic Development |
Property for Sale
NJ TRANSIT welcomes opportunities to facilitate Transit-Oriented Development (TOD) and Joint Development projects with both public and private entities. Such projects serve to support local and regional economic development goals, NJ TRANSIT's fiscal well-being, and sustainable land use practices.
Parties interested in land owned by NJ TRANSIT may submit inquiries to NJ TRANSIT's Real Estate and Economic Development Department to initiate an excessing review. Inquiries are welcome from municipalities, State agencies, business entities, or individuals. This process determines whether a property can and under what conditions, be deemed excess to NJ TRANSIT's operations and made available for another use.
To expedite the review process, when submitting an inquiry, requestors are encouraged to provide as much information regarding the property and its intended use as is available. Useful information includes specific identification of the property (Block/Lot/Address), an aerial map, survey, and description of the proposed use, including the duration of time the property is requested.
Following a review of the request, a written determination will be sent to the requestor indicating whether and under what terms and considerations a real property interest can be conveyed. If a property is deemed available, NJ TRANSIT will determine an appropriate transfer mechanism (i.e. Request for Proposal/Qualifications/Bids (RFP/Q/B) or through a direct lease or license). For properties containing a Federal Interest, NJ TRANSIT will facilitate necessary Federal Transit Administration approvals.
If the subject property is adjacent to NJ TRANSIT facilities, current and future access may warrant consideration. For any property currently utilized as an existing surface parking lot adjacent to a NJ TRANSIT station, replacement parking will be contemplated as part of the review process. Properties identified for potential TOD or Joint Development initiatives may also require conformance with local land use planning and economic development goals. Where development projects are consistent with land use plans and objectives, Real Estate staff will collaborate with the host municipality to solicit, identify and advance proposals to develop the subject property.
Interested parties may initiate a request related to NJ TRANSIT property by contacting:
Greg Diaz, Director of Property Management, NJ TRANSIT Headquarters, One Penn Plaza East, Newark, NJ 07105-2246. 973-491-8234, firstname.lastname@example.org.
For additional information regarding TOD or Joint Development of NJ TRANSIT owned property, please contact:
Sean Massey, Director, Real Estate Services, NJ TRANSIT Headquarters, One Penn Plaza East, Newark, NJ 07105-2246. 973-491-8709, email@example.com.
Real Estate Developer Marketing Partnerships