JMF Properties

What JMF Properties does

JMF Properties is a privately held, founder-led real estate redevelopment firm that converts underutilized, contaminated, and corporate-campus properties into productive mixed-use, residential, and retail developments, primarily across New Jersey with an emerging Texas presence. The company was founded by Joseph M. Forgione, a licensed civil engineer who has served as Commissioner for the New Jersey Sports and Expositions Authority (2001–2013) and acts as the firm's principal government liaison at the municipal, state, and federal levels. Its operating model centers on three integrated capabilities: reimagining underutilized sites through design and entitlement, building residential, retail, and mixed-use product (including the Clarus luxury rental brand, for-sale townhomes, and a hospitality asset via AC Hotel by Marriott), and managing properties on an ongoing basis.

The firm's revenue mechanics combine project-based real estate development (one-time lease-up and sale income from anchor tenants such as Whole Foods, Costco, Lowe's, and BJ's Wholesale), recurring residential rental income across 1,000+ homes under development, professional-services fees for complex rezoning and environmental remediation assignments, and managed property-management services. Its go-to-market is enterprise field sales: designation by municipalities (City of Bayonne at MOTBY), direct negotiation with corporate real estate owners (Colgate-Palmolive, Northrop Grumman, Chubb, Bayer, MetLife), and direct retail anchor leasing through its development pipeline. Notable proprietary credentials include the first International WELL Building Certification in New Jersey at Clarus Maplewood.

Cumulatively, the firm reports $500 million of economic value created, more than 3,000 residential units constructed, and over two million square feet of commercial development delivered, with active or recently announced projects including Hanover Town Center (124,547 LSF retail + 60 townhomes), Morris Marketplace (137,000 LSF retail + 325 residential units + 250 for-sale townhomes), Harbor View Marketplace / Harbor Station at Bayonne (260,000 LSF retail + 651 residences), Waterview Marketplace in Parsippany, and Shops at Tech Ridge in Austin, TX.

Name

JMF Properties

Legal name

JMF Properties, LLC

Website

https://jmfproperties.com

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Short description

JMF Properties is a privately held, founder-led real estate redevelopment firm headquartered in Whippany, NJ that converts underutilized corporate campuses, military sites, and contaminated properties into mixed-use, residential, and retail developments for municipalities, corporate owners, and retail tenants across New Jersey and Texas.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Development and Redevelopment

NAICS

Real Estate Property Managers (53131), Rental and Leasing Services (532)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Real Estate Dealers (For Their Own Account) (6532), General Bldg Contractors - Residential Bldgs (1520), Hotels, Rooming Houses, Camps & Other Lodging Places (7000)

akta.pro primary industry

Mixed-Use Property Management (BPAJAGAE)

Keywords

• Commercial real estate development
• Mixed-use redevelopment
• Luxury residential rentals
• Corporate campus conversion
• Property management services

Headquarters

HQ city

Whippany

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Infrastructure, Operations, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. Commercial Real Estate Development: Development of retail shopping centers and commercial spaces, generating revenue through leasing to anchor tenants and smaller retailers. Projects include lifestyle centers, shopping centers, and mixed-use developments.
2. Residential Rental Income: Luxury residential developments under the Clarus brand generate recurring rental income from luxury apartment units. Properties include Clarus Maplewood, Clarus Glen Ridge, Clarus Berkeley Heights, Estling Village, and others totaling over 1,000 homes under development.
3. Land Development and Rezoning: Complex rezoning and redevelopment of environmentally impacted sites, including former corporate campuses and military installations, negotiating with government agencies to transform properties for new uses.
4. Property Management Services: Hands-on property management at every stage, providing ongoing care for developments and tenants ensuring exceptional lifestyle experiences for businesses and residents.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

JMF Properties is a real estate redevelopment and development firm that transforms underutilized, dormant, and environmentally impacted properties—including former corporate campuses, military installations, and dormant retail sites—into mixed-use developments encompassing retail, luxury residential, commercial, and hospitality components. The company develops and owns lifestyle centers, shopping centers, the Clarus-branded luxury residential portfolio, mixed-use communities, and an AC Hotel by Marriott, and provides ongoing hands-on property management across its portfolio.

Product overview

JMF Properties is a real estate development company operating as a single unified offering rather than a platform-plus-modules architecture. The company provides end-to-end property development services encompassing three core capabilities: reimagining underutilized properties through vision and design, building residential, retail, and mixed-use developments, and managing properties with hands-on oversight. Their portfolio includes commercial developments (lifestyle centers, shopping centers, and retail spaces ranging from 14,000 to 505,803 LSF), luxury residential rentals managed via JMFRentals.com, mixed-use complexes combining retail with housing units, hospitality projects (AC Hotel by Marriott), and corporate campus redevelopment. Major named projects include Waterview Marketplace, Harbor View Marketplace, Morris Marketplace, Clarus Maplewood, Clarus Glen Ridge, Clarus Berkeley Heights, Clarus Nutley, Hanover Town Center, Cedar Village, and the Shops at Tech Ridge in Austin, TX. The company also develops townhomes and manages ongoing property operations for tenants and residents.

Differentiator

Problem solved

Functional benefit

Products and services

• Commercial Developments (Lifestyle and Shopping Centers) JMF Properties develops commercial retail properties including lifestyle centers, shopping centers, and mixed-use complexes. Completed projects include Waterview Marketplace (150,000 LSF in Parsippany), Harbor View Marketplace (260,000 LSF in Bayonne), Cedar Village (135,000 LSF in Morris Plains), Hanover Town Center (124,547 LSF), and Shops at Tech Ridge in Austin, TX. These serve national anchor tenants such as Whole Foods, Costco, Lowe's, and BJ's Wholesale Club.
• Luxury Residential Rentals (Clarus brand, JMFRentals.com) Luxury residential rental communities operated under the Clarus brand, managed through the JMFRentals.com portal. Properties include Clarus Maplewood (20 units, New Jersey's first International WELL certified building), Clarus Glen Ridge, Clarus Berkeley Heights (211 units), Estling Village, The American, Quin Sleepy Hollow, and The Quincy, with more than 1,000 luxury rental homes under development across New Jersey.
• Mixed-Use Developments Combined commercial and residential developments integrating retail, hospitality, and housing within a single project. Examples include Clarus Maplewood (14,000 LSF retail with 20 residences), Morris Marketplace (137,000 LSF retail with 325 residential units), and Harbor View Marketplace (260,000 LSF retail with 651 residences).
• AC Hotel by Marriott (Hanover) — Hospitality Development Hospitality development featuring an AC Hotel by Marriott property in Hanover, NJ, representing JMF Properties' expansion into the hospitality sector as part of its Hanover Town Center project.
• Townhome Developments For-sale and rental townhome communities built by JMF Properties, including Hanover Town Center (60 townhomes under construction) and Morris Marketplace (250 for-sale townhomes).
• Corporate Campus Redevelopment Transformation of corporate campuses into profitable retail and lifestyle centers. Notable engagements include the Morris Marketplace redevelopment of Colgate-Palmolive's former distribution center in Morristown, NJ (137,000 LSF commercial + 325 residential units), Cedar Village on the former Northrop Grumman property, and projects adjacent to Bayer and MetLife campuses.
• Waterfront Redevelopment Revitalization of waterfront properties including Harbor View Marketplace and Harbor Station at the former Military Ocean Terminal at Bayonne (MOTBY), where JMF was designated by the City of Bayonne to transform a 16-acre portion of the former military waterfront site into a mixed-use seaport village environment.
• Property Management Services Hands-on property management services provided across JMF Properties' portfolio, ensuring exceptional ongoing lifestyle experience for businesses and residents and supporting sustained occupancy and asset quality.

Quantifiable outcome

• $500 million of economic value created
• +4 more outcomes

Named customers13 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Nine partnerships are on record, tiered core and notable.

• Colgate-PalmolivecoreStrategic or Co-development PartnerJMF Properties was selected by Colgate-Palmolive from a large applicant pool (including publicly traded developers) to redevelop its former Distribution Center campus in Morristown, NJ into Morris Marketplace. JMF's broad experience in redevelopment and extensive knowledge of municipal players enabled an approval process that might otherwise have taken more than two years to be completed in less than 12 months. This was a landmark corporate campus conversion project.
• Northrop GrummancoreStrategic or Co-development PartnerJMF Properties developed Cedar Village (135,000 LSF retail) on the former Northrop Grumman property that had sat vacant since 1985. The project required rezoning to allow retail while addressing complex wetlands and environmental issues. JMF successfully negotiated this complex process.
• City of BayonnecoreStrategic or Co-development PartnerJMF Properties was designated by the City of Bayonne as developer for a 16-acre portion of the former Military Ocean Terminal at Bayonne (MOTBY) waterfront property. The city interviewed many companies, including national developers, before selecting JMF for their market knowledge and proven track record in big box, lifestyle retail, and residential components.
• Chubb InsurancenotableStrategic or Co-development PartnerJMF Properties redeveloped property in Parsippany for Chubb Insurance. Per testimonial from Director of Real Estate Herman Simonese: 'JMF Properties approached us with a proposal that not only respected the value of land, but his willingness to benefit the community at large.'
• Fort Monmouth Economic Revitalization Authority (FMERA)notableStrategic or Co-development PartnerJMF Properties partners with FMERA for redevelopment projects at Fort Monmouth, handling complex rezoning and environmental remediation of former military installations.
• Port Authority of NY/NJnotableStrategic or Co-development PartnerCorporate partnership for redevelopment projects in the Port Authority region, contributing to economic development and transportation infrastructure improvements.
• Federal GovernmentnotableStrategic or Co-development PartnerPartnership for federal property redevelopment projects as part of JMF's corporate partners and redevelopment portfolio.
• BayercoreStrategic or Co-development PartnerBayer is a major corporate presence near JMF's Hanover Township projects. The Bayer/MetLife campus area is a key development zone for JMF, with 120 acres under development in Hanover Township near major corporate centers.
• MetLifecoreStrategic or Co-development PartnerMetLife is a major corporate neighbor in Hanover Township. The Bayer/MetLife campus area represents a key development opportunity, with JMF developing adjacent properties and benefiting from significant daytime traffic from 10,000+ employees at each major corporate center.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Prism Capital Partners: New Jersey-based real estate investment and development firm focused on mixed-use and adaptive reuse. Comparable in NJ geographic focus and mixed-use redevelopment strategy.
• J.G. Petrucci Company: New Jersey-based design-build developer of commercial, mixed-use, and multifamily projects. Comparable in NJ footprint, mixed-use development, and complex project execution.
• Hampshire Companies: Morristown, NJ-based real estate investment and development firm with retail, multifamily, and mixed-use portfolio. Comparable NJ footprint and mixed-use/retail center development focus.
• Russo Development: New Jersey-based real estate developer of mixed-use, residential, and retail properties. Direct comparable given overlapping NJ footprint, mixed-use redevelopment focus, and similar scale of project pipeline.
• The KRE Group: Edison, NJ-based developer of mixed-use, retail, and residential projects. Comparable in NJ geographic focus, mixed-use redevelopment expertise, and tenant-anchor development model.
• Woodmont Properties: New Jersey developer of mixed-use, luxury residential, and retail properties including townhomes and apartments. Comparable product mix (luxury residential, mixed-use retail) and regional focus.
• BNE Real Estate Group: New Jersey-headquartered developer specializing in mixed-use, multifamily, and retail redevelopments. Closely comparable to JMF in product type, geography, and institutional/corporate partner approach.
• Saxum Real Estate: New Jersey-based mixed-use and retail developer. Directly comparable in scale, NJ focus, and mixed-use redevelopment execution on complex sites.

Broad incumbents

• Regency Centers: National shopping center developer and operator with grocery-anchored retail centers. Comparable in retail leasing model and anchor-tenant relationships, but operates as a public REIT at much larger scale.
• Federal Realty Investment Trust: Publicly traded REIT and mixed-use developer/operator with national portfolio of shopping centers and mixed-use districts (e.g., Assembly Row). Comparable in mixed-use product and luxury residential adjacency, but at vastly larger scale and public-company capitalization.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/jmf_properties

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about JMF Properties