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.

Industrial
STRO, KRE detail latest acquisition and value-add plan for Elmwood Park industrial portfolio

The STRO Cos. and KRE Group have joined forces for another deal, acquiring a vacant three-building industrial complex in Elmwood Park that they now plan to reposition.

Finance & Capital Markets
SKG scores more than $9 million in agency financing for 52-unit East Orange rental portfolio

SKG Capital has secured new agency loans totaling more than $9 million to refinance two transit-oriented apartment buildings in East Orange.

Retail
RIPCO: 7 Brew continues expansion with five new leases in New Jersey, New York

Drive-thru coffee chain 7 Brew has signed four new leases in New Jersey and another in New York’s Rockland County, adding to its fast-growing footprint across the Northeast.

Office
C&W: Credit union sells Nutley office property, potential redevelopment site, for $2 million

A credit union has sold its former headquarters property in Nutley, a site that includes more than 30,000 square feet of vacant office space and parking for some 90 vehicles.

Retail
Ex-dollar store property in Burlington sells for $2 million, Rose Commercial says

Madd Equities LLC has sold a freestanding 15,000-square-foot retail building in Burlington for nearly $2 million, in a newly announced deal by Rose Commercial Real Estate.

Education
NJIT’s Profeta Real Estate Center launching June 23, seeking to reshape real estate education

The Profeta Real Estate Technology, Design and Innovation Center will officially launch next week at New Jersey Institute of Technology, marking the start of what’s meant to be a pioneering cross-disciplinary program to produce the industry’s most well-rounded graduates.

Finance & Capital Markets
CBRE: Lincoln Financial provides $21 million refi for Hoboken office, retail property

The owner of more than 42,000 square feet of office and retail space in uptown Hoboken has refinanced the property, securing a $21.12 million loan in a deal arranged by CBRE.

Residential & Mixed Use
Hartz nears full occupancy at new 250-unit Cranford rental property

Hartz Mountain Industries has hit 90 percent occupancy at a collection of 250 apartments in Cranford, highlighting sustained demand for upscale rentals in suburban locations.

Residential & Mixed Use
Cervelli arranges sale of 13-unit Union City apartment building for $875,000

A private investor has acquired a 13-unit apartment building in Union City for $875,000, in a newly announced deal by Cervelli Real Estate & Property Management.

Finance & Capital Markets
Kennedy Funding closes $2.7 million land loan for mixed-use development site in Oregon

Kennedy Funding has closed a $2.7 million land loan to the owner and would-be developer of some 35 acres in one of Oregon’s largest cities.