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
Prewar 50-unit apartment building in East Orange sells for $9.35 million, Hudson Atlantic says

A private investor has purchased a 50-unit apartment building in East Orange for $9.35 million, in a deal arranged by Hudson Atlantic Realty.

Industrial
CrownPoint breaks ground on 106,000 sq. ft. self-storage project in Central Jersey

CrownPoint Group Inc. is bringing a new self-storage facility to Middlesex County, seeking to leverage the region’s fast-growing housing stock as it expands its footprint in the asset class.

Professional Services
MHS Architecture’s Nowak, Rodriguez and Dominguez promoted to associate principal

MHS Architecture has named three new associate principals after elevating longtime team members Daniel Nowak, Juan Rodriguez and Maykel Dominguez.

Finance & Capital Markets
Morristown apartment owner inks $7.2 million loan for 37-unit property, G.S. Wilcox says

The owner of a four-building, 37-unit apartment property in downtown Morristown has secured $7.2 million in financing, in a newly announced deal by G.S. Wilcox & Co.

Professional Services
Petrucci elevates Baker, longtime project executive, to vice president

J.G. Petrucci Co. Inc. has promoted Dominick Baker to vice president, citing his key role in advancing its development and construction initiatives across the region.

Finance & Capital Markets
JLL sources $48 million refi loan for 165-unit senior housing portfolio in Bergen, Rockland

The owners of senior housing communities in northern New Jersey and the Lower Hudson Valley have refinanced the portfolio for $48 million, brokers with JLL said Monday.

Retail
Azarian: Pearle Vision leases 2,400 sq. ft. at Route 1 shopping center in Metuchen

A new Pearle Vision is opening in Metuchen after taking space at a highway commercial property, according to a brokerage team with Azarian Realty Co.

Office
Newmark: AEP, Provident ink 23,000 sq. ft. lease at revamped Parsippany office building

American Equity Partners has signed two notable leases at a Parsippany office building, including a deal to bring Provident Bank to the nearly 197,000-square-foot property.

Finance & Capital Markets
WPT scores acquisition loan for two-building, 603,000 sq. ft. warehouse complex at Exit 8A

WPT Capital Advisors has secured acquisition financing for more than 603,000 square feet of industrial space in Monroe Township, brokers with JLL announced last week.

Industrial
Alterra adds industrial outdoor storage in Wharton as part of 206,000 sq. ft. portfolio deal

An industrial outdoor storage property in Morris County has changed hands as part of a 10-state portfolio acquisition by Alterra IOS, an affiliate of the Philadelphia-based real estate firm.