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.

Finance & Capital Markets
CBRE: Developer lands $31 million permanent loan for 115-unit Montgomery rental project

The developer of a new 115-unit luxury rental community in Somerset County has closed on $31 million in permanent financing, according to brokers with CBRE.

Industrial
JLL lists 278,000 sq. ft. ‘headquarters-style’ industrial building in Wall Twp. for sale or lease

The owner of a nearly 278,000-square-foot industrial building in Monmouth County has tapped JLL to secure a buyer or tenant for the property.

Industrial
Morvay breaking ground on Robbinsville, Hamilton flex industrial projects, Zimmel says

Morvay Partners is moving ahead with two ground-up flex industrial projects in Mercer County, with plans to deliver both by year-end as it markets the spaces to prospective tenants.

Food & Beverage
Landmark New Brunswick eatery, food hall to anchor HELIX hospitality district

A beloved bar and restaurant in New Brunswick is moving to the city’s HELIX campus, where it will join a new food hall to anchor the project’s food and beverage offerings.

Retail
LMC: Target opens at West Orange Plaza to continue retail center’s transformation

A long-awaited Target store has arrived in West Orange, marking a milestone in the high-profile update and expansion of a busy shopping center off Interstate 280.

Industrial
Fire protection firm buys 20,000 sq. ft. Somerset facility from PepsiCo, NAIDB says

A life safety business has acquired a more than 20,000-square-foot industrial building in the Somerset section of Franklin, in a newly announced deal by NAI DiLeo-Bram & Co.

Retail
Investors trade Pennington retail center in $3.9 million deal by Marcus & Millichap

A private investor has sold more than 18,000 square feet of retail space in Mercer County for $3.925 million, brokers with Marcus & Millichap announced Monday.

Residential & Mixed Use
IPRG: Procida seeking buyer for fully approved 127-unit loft project in Paterson’s Great Falls

The site of a planned 127-unit loft-style multifamily project in Paterson is on the market for sale, providing what brokers say is a shovel-ready opportunity with major financial advantages.

Events
Prism’s Cohen to receive NAIOP N.J. lifetime achievement award, headlining gala honorees

NAIOP New Jersey has revealed the honorees for its 39th annual Commercial Real Estate Awards Gala, including Prism Capital Partners’ Edwin Cohen and five other key industry figures.

Residential & Mixed Use
Landmark debuts 100-unit Plainfield rental property as latest ‘Centurion’ project

Leasing is underway at a new 100-unit luxury apartment building in Plainfield, where a developer hopes to tap into the city’s fast-growing rental market.