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.

Office
JLL: March Associates sells 38,000 sq. ft. medical office building in Wayne for $7.9 million

March Associates Construction has sold a nearly 38,000-square-foot medical office building in Wayne — a location that’s also its longtime headquarters — in a deal arranged by JLL.

Finance & Capital Markets
Integritas, Kriss lend $220 million for Journal Square project with 542 rentals, 154-key hotel

A development team has scored $220 million in financing to complete a 56-story high-rise in Jersey City, one that’s slated to include 542 apartments and a 154-key hotel after it was redesigned mid-construction to allow for a major expansion.

Industrial
NAIDB: Magni, material handling equipment supplier, sells Kenilworth facility for $13 million

An industrial user has sold and leased back a portion of a nearly 27,000-square-foot facility in Kenilworth, reaping more than $13 million in a deal arranged by NAI DiLeo-Bram & Co.

Deals
Dental restoration lab inks 10-year lease for 22,000 sq. ft. Piscataway facility, Deluccia says

A dental laboratory has secured a new facility after taking 22,000 square feet of commercial space in Piscataway, according to brokers with Deluccia Commercial Group.

Office
Azarian: Interior design firm secures new home, takes 3,200 sq. ft. at Livingston Town Center

An interior design firm has leased some 3,200 square feet at Livingston Town Center, joining more than two dozen other tenants at the well-known mixed-use property.

Industrial
NAIDB: Magni, material handling equipment supplier, sells Kenilworth facility for $13 million

An industrial user has sold and leased back a portion of a nearly 27,000-square-foot facility in Kenilworth, reaping more than $13 million in a deal arranged by NAI DiLeo-Bram & Co.

Government & Public Policy
NJ Transit, Denholtz eye new development at Red Bank station with 175-unit first phase

Denholtz has taken a key step toward expanding its footprint in Red Bank, where it’s set to become the master developer of six acres of NJ Transit-owned land with plans to create a mix of new rental homes, retail and parking facilities along the North Jersey Coast Line.

Residential & Mixed Use
Sterling, Danbro unveil 300-unit ‘destination’ rental property in Livingston

A new luxury rental property has opened in Livingston, bringing an infusion of 300 apartments to western Essex County following a project by two local developers.

Government & Public Policy
EDA pledges $35 million tax credit award for 141-unit senior housing project in Totowa

A plan that would create 141 units of affordable senior housing in Totowa is advancing with the help of a $35.3 million tax credit award from the New Jersey Economic Development Authority.

Industrial
NAI Hanson: New Jersey Fire Equipment buys Hackensack industrial building for $1.48 million

A supplier of firefighting equipment is moving to Hackensack after buying a 6,000-square-foot industrial building just off Interstate 80, according to brokers with NAI James E. Hanson.