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
BPU greenlights massive expansion of community solar, launching new 3,000-megawatt block

A sweeping expansion of New Jersey’s community solar program is set to begin, allowing for a new wave of clean energy projects that benefit both residents and commercial landlords.

Industrial
Crow Holdings, partners sell 1 million sq. ft. Exit 8 warehouse to BGO, in deal arranged by JLL

A team led by Crow Holdings Development has sold nearly 1 million square feet of new logistics space in Millstone, in a deal with the global real estate investment manager BGO.

Finance & Capital Markets
Russo lands construction loan for 198-unit rental project in Belmar, Cushman says

Russo Development has secured construction financing for a project that will bring 198 new apartments to Belmar’s seaport district, brokers with Cushman & Wakefield announced.

Retail
Toms River OKs Doren Development plan to build new Starbucks on Route 37

Doren Development is advancing plans to build a new Starbucks in Toms River after receiving local approval for the freestanding project.

Residential & Mixed Use
Cervelli: Six-unit Jersey City rental building trades with ‘immediate’ value-add potential

A longtime apartment owner in Jersey City has added a six-unit building in the Bergen-Lafayette neighborhood, in a deal arranged by Cervelli Real Estate and Property Management.

Industrial
Seagis signs two new leases totaling 25,000 sq. ft. at updated industrial building in Carlstadt

Seagis Property Group has filled some 25,000 square feet of industrial space in the Meadowlands with new leases to a logistics service provider and a national stone company.

Professional Services
Najarian Associates marketing, communications director marks milestone with consulting firm

Najarian Associates is marking the 20th anniversary of Ohannes Najarian, a second-generation member of its leadership team and a key figure in its business development efforts.

Professional Services
NAI Hanson welcomes Godau as vice president in Parsippany office

Brian Godau has joined NAI James E. Hanson, where the veteran broker will serve the firm’s roster of owner, occupier and institutional clients.

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.

Industrial
Manufacturer buys 50,000 sq. ft. Edison warehouse for $18 million, NAIDB says

A developer has sold more than 50,000 square feet of modern industrial space in Edison for $18.2 million, brokers with NAI DiLeo-Bram & Co. announced Tuesday.