Landmark Companies has acquired two more properties in recent months for a future project along Main Street.
A lot at the corner of Augusta Street (170 E. Milton Ave./Block 326, Lot 1.01) was purchased from the Redevelopment Agency while an adjacent property at the corner of Main Street (156 E. Milton Ave./Block 326, Lot 1.01) was acquired from 5th Ward Councilwoman Jennifer Wenson-Maier and her husband, Eric.
The Redevelopment Agency rented the vacant lot for $600 a month to Silcon Inc. during construction of Carriage City Plaza, according to City Administrator and Redevelopment Director Peter Pelissier. The agency purchased the property several years ago for about $140,000 before selling it to Landmark (under the name Main Street at Rahway, LLC) for $200,000. It was unclear how much the Wenson property sold for but the Redevelopment Agency had to consent to the sale last month as part of a property exchange several years ago.
Landmark is trying to assemble properties along Main Street while it develops concept plans for a future project.
The Keasbey-based firm that’s building Park Square also acquired the former Woolworth building last year (1433 Main St./Block 326 Lot 6) for $1.45 million, according to PropertyShark.com. For the time being, that space houses Rahway Cafe and Stage, which signed a two-year lease earlier this year.