Around the State
Rutgers Business School opens new headquarters
Courtesy of Rutgers Business School
RutgeRs Business school announced last week that it has opened its new headquarters at 1 Washington Park,
in newark, a few blocks north of its previous location. Rutgers occupies the first 11 of the 17 floors at the office tower
for facilities that include undergraduate, MBA, Ph.D. and executive classrooms, and meeting spaces to accommo-
date some 3,500 students.
the school purchased its space in the 23-year-old former Verizon Communications building from Millburn-
based Fidelco Realty Group in 2006 for $31.5 million, then spent $51.5 million to renovate and expand the space,
according to Rutgers.
the expansion involved the construction of an adjoining two-story, 15,000-square-foot entry glass pavilion, which
features a news ticker on its exterior and connects the entrance lobby with the south side of the main building, the school
said. the pavilion also includes a trading room and three primary lecture halls that can hold 80 to 100 students.
the Rutgers Business school project is the second-largest capital investment in Rutgers history, the school said,
and was funded with an $18 million state appropriation and $7 million in federal new Markets tax credits, with
1 Washington Park was the second-largest capital investment in Rutgers history. Rutgers investing the remainder. - Evelyn Lee
N.J. hospitals see red Long Branch homeowners in Pittsfield, Mass., which liquidated
Courtesy of Business Wire
in February. – João-Pierre S. Ruth
with Horizon Blue win eminent domain fight
Jury trials have begun at Bergen A group of 13 residential property
Developer offers live
County Superior Court in a contest owners, in Long Branch, won a six- free for a year program
between Horizon Healthcare Servic- year court battle to keep their homes
es, of Newark, and a group of 15 hos- from being condemned by the city RSA Development Group LLC, an
pitals in New Jersey over the latter’s administration, reaching a settle- Edgewater-based residential devel-
claim over unpaid bills. The hospitals ment with the city early last week. oper, last week announced a new pro-
want $83 million in damages from The city of Long Branch had gram that would allow new purchasers
Horizon Blue Cross Blue Shield of sought to use eminent domain to of homes at Ardan House, a 12-unit
New Jersey, accusing the insurer of declare the beachfront neighbor- condominium development in Union With Jagtag’s Twitter promotion, users can receive videos and photos, like this one from
improperly selling discounted hos- hood as blighted and redevelop it. City, to live free for one year. “X-Men Origins: Wolverine”, as well as promotional material directly on their phone.
pital rates to self-insured groups and The settlement “is evident of a RSA will either pay the mortgage
failing to administer claims.
Jeffrey Brown, partner at the
trend going on in New Jersey, where
municipalities have to prove blight by
Deals around the state
Courtesy of RSA Development Group
Hackensack law firm of Garfunkel, substantial credible evidence,” said n Medical device maker Integra LifeSciences Holdings Corp., in
Wild & Travis, who is representing William J. Ward, a principal at Carlin Plainsboro, said it acquired all the assets of Innovative Spinal Tech-
the hospitals, said his clients hired & Ward, who represented the proper- nologies Inc., in Mansfield, Mass., for $9.25 million. innovative, a
Horizon to market their services to the ty owners, along with two other firms. maker of spinal implant products, filed for chapter 7 bankruptcy
self-insured because those payments Encouraging the settlement was protection in May.
tended to be delayed and poorly co-