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
IDI buys vacant office site in Somerset, plans 213,000 sq. ft. warehouse project

IDI Logistics has revealed plans to build more than 200,000 square feet of new industrial space along Interstate 287 after acquiring a vacant office park in the Somerset section of Franklin.

Office
JLL seeking buyer for 42,000 sq. ft. Summit office building, touting strong value-add potential

The owner of a boutique office building in Summit has tapped JLL to sell the property, providing what the listing team says is “significant value-add potential” in a top-tier market.

People
Cushman adds Manfro as managing director, Northeast retail investment sales

Cushman & Wakefield has bolstered its capital markets team in the region with the addition of Joanna Manfro, a veteran broker in the retail space.

Industrial
Velocity leases 36,000 sq. ft. in three new deals at Gloucester County industrial property

Velocity Venture Partners has added three tenants at a Gloucester County industrial building, leaving just one space available at the roughly 68,000-square-foot facility.

Retail
District 15Fifteen adds seven dining, fitness tenants as Parsippany project hits 65 percent leased

By Joshua Burd The team behind the mixed-use District 15Fifteen project in Parsippany has filled two-thirds of the property’s retail space, with momentum building after a recent surge in leasing. According to Pierson Commercial, the broker for the Route 10…

Finance & Capital Markets
Secaucus industrial owner lands $111 million loan for 800,000 sq. ft. portfolio, Wilcox says

The owner of more than 800,000 square feet of industrial space in northern New Jersey has secured $110.5 million in permanent financing, in a deal arranged by G.S. Wilcox & Co.

Industrial
New tenant at Harrison industrial complex takes 214,000 sq. ft., Blau & Berg says

A private occupier has leased more than 214,000 square feet of industrial space at a well-known property in Harrison, in a newly announced deal by The Blau & Berg Co.

Industrial
RRNNJ: FedEx signs 125,000 sq. ft. renewal at CenterPoint facility in Orange County

FedEx Corp. has renewed its lease for a key facility in New York’s Hudson Valley, where it occupies 125,000 square feet under a deal with CenterPoint Properties.

Finance & Capital Markets
Kennedy Funding eyes busiest Q4 in firm history with eight land loans in eight weeks

Kennedy Funding has closed eight land loans in just eight weeks, citing heightened demand in a segment of the market that few lenders are willing to meet.

Residential & Mixed Use
HVPG details plan to preserve, update newly acquired affordable housing in Asbury Park

Hudson Valley Property Group has acquired a 170-unit multifamily complex in Asbury Park, expanding a portfolio that now includes nearly 30 properties in the state.