Market Sectors

New Jersey has an unmatched location and a population that developers dream about. It’s no wonder the commercial real estate industry is flourishing and evolving across all segments of the market.

Residential & Mixed Use

Investor buys 58-unit East Orange rental building for $8 million, ICON says

The longtime owner of a 58-unit apartment building in East Orange has sold it for nearly $8 million, in a newly announced deal by ICON Real Estate Advisors.

Professional Services

Binswanger to open North Jersey office, expanding Mid-Atlantic footprint

Binswanger is launching an office in northern New Jersey, having recruited several veteran brokers as part of a major expansion by the Philadelphia-based real estate services firm.

Office

IPRG inks lease at 15 Exchange Place, securing new home for New Jersey operations

IPRG has found a new home in Jersey City after leasing 5,000 square feet at a well-known office building along the Hudson River.

Finance & Capital Markets

Valley closes $15 million construction line of credit for 78-unit Bayonne rental project

The developer of a 78-unit multifamily project in Bayonne has closed on a $15 million construction line of credit with Valley Bank, the lender announced last week.

Retail

Net-leased CVS property trades for $9 million in deal arranged by Marcus & Millichap

A private investor has acquired a net-leased retail property just off the Hudson River in Edgewater for $9 million, in a newly announced deal by Marcus & Millichap.

Finance & Capital Markets

Broad, longtime hotel broker, joins Cronheim as senior managing director

Cronheim Hotel Capital has tapped Andrew Broad as a senior managing director, adding a veteran broker with deep ties to both the hospitality sector and the capital markets.

Retail

Wolf Fitness opens new 20,000 sq. ft. location in Sewell, Goldstein Group says

A gym franchise has expanded in Gloucester County as part of a recent 20,000-square-foot deal arranged by The Goldstein Group and Metro Commercial.

Government & Public Policy

Extending a hand to Solomon, Jersey City landlords call for more housing to solve budget, affordability woes

Following a contentious campaign, the Jersey City Apartment Owners Association said it was eager to work with new Jersey City Mayor James Solomon, reaffirming its belief that the best way to solve the city’s budget and affordability crises is to build more housing.

Government & Public Policy

NJBA, NJBIA file appeal to stop Murphy-backed flood elevation rules for development

Two top business groups are going to court to block controversial land use and flood protection rules adopted on Gov. Phil Murphy’s last day in office, stepping up their defense against a program that they’ve long said will cripple development throughout the state.