The Hekemian Group develops high-quality, highly-finished real estate for long-term ownership. With over 90 years as one of the country’s most stable property owners and developers, our significant and highly selective portfolio includes luxury residential, mixed-use, retail/lifestyle, and industrial/office properties located in the strongest demographic areas of New Jersey, the Northeast United States, and California. We own assets both in the private form and also through the First Real Estate Investment Trust of NJ, a publicly-traded REIT (trading under the ticker symbol “FREVS”), of which the Hekemian family was a founding member.
The Hekemian Group prides itself on our proven ability to execute — as evidenced by our current portfolio of complicated, mixed-use, legacy projects representing a market value of approximately $1 billion. These most recent projects demonstrate our successful track record at land-use entitlement, financing, large-scale construction, and property stabilization.
We believe development is an opportunity to rethink the real estate needs of each unique market.
The Hekemian Group also has a very strong financial position, based upon our significant private balance sheet, net worth, liquidity, and recurring real estate cash flow. This fiscal strength enables us to see through long and complicated land entitlement processes and ultimately get projects financed and constructed.
We have ownership in an existing real estate portfolio of 3,000+ residential units, 2.5 million square feet of retail, and approximately 150,000 square feet of office that generates revenue for the company. The quality of these assets, in combination with their excellent locations, secures the stability of our ongoing cash flow.
When it comes to new development, our strength and interest is in identifying high demographic markets where there’s an unmet demand for high-end real estate offerings. By finding these opportunities — although often in constrained supply and difficult to build — we can “create the market.”
At The Hekemian Group, design is a major part of our business philosophy. One of our core beliefs is that innovative design, in the right markets, yields better customer experiences and increased returns. We believe in being smarter and more creative in all elements of design — from master planning and architecture to interior design, marketing, and sustainability.
A key focus for The Hekemian Group is to ensure that all of our business decisions are heavily grounded in cost-benefit, risk-return analysis. It’s a priority that we integrate into our evaluation process for every project. We endeavor to make intelligent, risk-adjusted bets, yet always hedge the downside for business plans that don’t play out as expected.
Our extensive experience with many types of creative deal structures gives The Hekemian Group the ability to respond with flexibility to non-traditional, challenging project requirements — where other developers cannot. This knowledge allows us to transact and execute the range of unique development projects found in today’s complex real estate marketplace.
As real estate developers both creating and deriving value from land, the environmental condition of our planet is something The Hekemian Group cares deeply about. We believe it is our responsibility to lead by example and embrace green business policies and strategies wherever possible. This is why we apply what we call LowImpactLiving™ to all of our new property developments, the tenets of which include:
We feel strongly that the re-use of inner ring, infill locations — where we can build vertically, increase density, and utilize mass transit infrastructure — is a much smarter option than outward sprawl. To this end, we have made substantive contributions toward the improvement of infill transit infrastructure. Additionally, all of our projects qualify as “smart growth” locations. There’s always going to be a need to grow. The question is how you choose to do so.
Given that many of the projects we undertake are the re-use of historical or old industrial sites, the vast majority need some level of clean up and remediation of already existing environmental concerns. This requires a specific skill set and The Hekemian Group team is built for the type of complicated effort to make these sites clean and ready for development.
Solar power. Electric vehicles. Low-impact lifestyle. These are the types of green efforts we want to support with every development project we work on. Thus, on our new multi-family projects going forward, we pledge to power 100% of the common area electrical needs though large, on-site solar arrays located on the building rooftops. We will also provide electric vehicle (EV) charging stations and bicycle storage for our tenancy. In addition, we also design the following cutting-edge solutions into our new projects:
– Vegetative or “living” roofs to provide insulation and support wildlife – Pervious parking lot areas to promote water absorption and filtration – LID (Low Impact Development) methods to slow runoff – On-site walking and biking paths – Dark-Sky practices to dramatically reduce light pollution
At The Hekemian Group, our development projects always seek to add to the overall character and quality of the communities we partner with, but they also provide additional civic benefits that are essential.
At full buildout, our current projects will yield approximate annual net tax payments to our municipalities in excess of $14MM. This represents a bondable value greater than $250MM, at no cost to the citizenry of the cities and towns in which we work.
In addition, our developments include the creation of over 325 affordable housing units for our municipal partners (to date and in progress). We’re proud that these below market rate units offer new, clean housing options for the people who work in and serve the communities we’re building in.
Wayne, NJ
Wyckoff, NJ
Rockaway, NJ
Hackensack, NJ
Maywood, NJ
Spring Lake Heights, NJ
Pompton Lakes, NJ
Fair Lawn, NJ
Camden, NJ
River Edge, NJ
Westwood, NJ
Howell Township, NJ
Franklin Lakes, NJ
Ramsey, NJ
Olney, MD
Lawrence Township, NJ
Sparta, NJ
Frederick, MD
North Hackensack, NJ
HG Construction is the in-house construction division of The Hekemian Group. We perform start to finish construction for the complete range of projects — from site work to full buildings.
For this conversion of a former GM facility into a multi-family development, we acted as CM for site remediation, building demo, all project site work, piles, and concrete — plus two, pre-cast parking garages and the associated MEP fit-up.
– LOCATION: Englewood, NJ – YEAR: 2004 – CONTRACT AMOUNT: $11 million – SQUARE FOOTAGE: N/A
For this multi-family development, we acted as CM for site remediation, building demo, all project site work, piles, and concrete — plus a large, pre-cast parking garage with elevators and 675 stalls.
– LOCATION: Englewood, NJ – YEAR: 2010 – CONTRACT AMOUNT: $18 million – SQUARE FOOTAGE: N/A
For this multi-family development, we acted as CM for all project site work and piles.
– LOCATION: Englewood, NJ – YEAR: 2014 – CONTRACT AMOUNT: $3.5 million – SQUARE FOOTAGE: N/A
For this mixed-use neighborhood development, we acted as CM for site remediation, building demo, and all project site work.
– LOCATION: Montvale, NJ – YEAR: 019 – CONTRACT AMOUNT: $11.2 million – SQUARE FOOTAGE: N/A
For this office building with ground-floor retail, we acted as CM to deliver the building shell.
– LOCATION: Englewood, NJ – YEAR: 2015 – CONTRACT AMOUNT: $6.5 million – SQUARE FOOTAGE: 46,000 SF
– LOCATION: Montvale, NJ – YEAR: 2021 – CONTRACT AMOUNT: $9.2 million – SQUARE FOOTAGE: 51,625 SF
For this large retail development, we acted as CM for all project site work and the construction of seven high-end retail buildings.
– LOCATION: Montvale, NJ – YEAR: 2017 & 2023 – CONTRACT AMOUNT: $24.4 million – SQUARE FOOTAGE: 90,000 SF
For this combination healthcare and retail building, we acted as CM to deliver the building shell.
– LOCATION: Montvale, NJ – YEAR: 2023 – CONTRACT AMOUNT: $19.25 million – SQUARE FOOTAGE: 86,000 SF
For this warehouse building, we acted as CM for demo, all project site work, building ground improvements, and delivery of the building shell.
– LOCATION: Newark, NJ – YEAR: 2021 – CONTRACT AMOUNT: $10.175 million – SQUARE FOOTAGE: 75,000 SF
9
$12,580,556
$113,225,000