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.

Government & Public Policy
Sherrill taps Weiss to lead EDA, Potosnak as DEP commissioner

Gov.-elect Mikie Sherrill has filled two key posts impacting commercial real estate, naming Evan Weiss as CEO of the New Jersey Economic Development Authority while nominating Ed Potosnak as commissioner of the Department of Environmental Protection.

People
Osborne joins Gottesman as vice president in role focused on asset management

Gottesman Real Estate Partners has hired Steven Osborne as a vice president, bolstering the team supporting its portfolio of commercial and residential properties across four states.

Professional Services
Vantage Commercial joins TCN Worldwide, seeking to leverage global network of CRE firms

Vantage Commercial has expanded its reach and resources after joining TCN Worldwide, an international alliance of independent commercial real estate firms.

Industrial
Camber, PGIM expand out of state with 745,000 sq. ft. industrial deal in Maryland

Camber Real Estate Partners and PGIM Real Estate have made a new acquisition outside New Jersey, adding more than 745,000 square feet of industrial space in the Baltimore region.

Retail
Larken, KidsUnited ink lease to bring youth soccer franchise to Raritan Borough

Larken Associates has leased more than 3,000 square feet in Raritan Borough to a fast-growing youth soccer franchise, the real estate firm announced Friday.

Finance & Capital Markets
Kennedy Funding lends $2.1 million for newly built synagogue in upstate New York

The owner of a newly built synagogue in upstate New York has secured a $2.1 million loan from Kennedy Funding, the Englewood-based direct private lender.

Government & Public Policy
EDA approves $400 million Aspire tax credit for new RWJBarnabas hospital at Fort Monmouth

Plans to build a new $1.5 billion hospital at the historic Fort Monmouth property are moving ahead with the help of a $400 million tax credit award under the state’s Aspire program.

Industrial
Sitex adds 26,000 sq. ft. Monroe warehouse as latest acquisition in Central Jersey

Sitex Group has acquired a 26,000-square-foot warehouse in Monroe, adding to its portfolio in the well-known Exit 8A submarket along the New Jersey Turnpike.

Residential & Mixed Use
Marcus: Jersey City property with 19 apartments, retail space fetches $6.3 million

An investor has picked up 19 apartments and three ground-floor retail spaces in Jersey City after acquiring a mixed-use building for $6.25 million, brokers with Marcus & Millichap announced.

Deals
Sheldon Gross: Historic East Orange complex that’s home to artists, small businesses sells for $10.5 million

A historic commercial complex in East Orange — one that now serves as a hub for local artists and entrepreneurs — has changed hands for $10.5 million.