Chicago developer to invest up to $1.5B in N.J.

A Chicago-based commercial real estate firm, Tucker Development Corp., said that it will invest up to $1.5 billion in retail and mixed-use projects in New Jersey. Tucker has opened an office in Newark, where it plans to focus initially with retail and transit-oriented development. “Newark is a dramatically under-retailed city,” Tucker said. “You have a tremendous amount of people in the city who don’t have the ability to shop locally. So often as developers, we look for ways to create the market — but in Newark, the market is already there.”