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.

Featured
EDA pauses Aspire applications, seeking more ‘transparent and competitive framework’

The state Economic Development Authority is pumping the brakes on the Aspire tax credit program for developers, seeking to make it more efficient and cost-effective for applicants as it manages its remaining funds under the policy.

Industrial
NAIDB lists 75,000 sq. ft. Piscataway industrial facility, touting ‘ideal’ owner-user opportunity

The owner of a nearly 75,000-square-foot industrial building in Piscataway has listed it for sale, providing a rare opportunity for an owner-user to establish or expand in a key logistics corridor.

Residential & Mixed Use
Jersey City building with four apartments, retail space trades for $1.2 million, Cervelli says

A family office has expanded its holdings in Jersey City, acquiring a building with four apartments and retail space in a deal arranged by Cervelli Real Estate & Property Management.

Office
Personal injury, family law firm takes final space at Azarian Building in Midland Park

Azarian Realty Co. has leased up its flagship office building in Midland Park after securing a new commitment from a personal injury and family law firm.

Finance & Capital Markets
Buyer of Cape May County shopping center lands $21 million life company loan

The new owner of a grocery-anchored shopping center in Cape May Court House has secured $21 million in financing for the asset, in a deal arranged by Cronheim Mortgage.

Industrial
Prologis promotes Harvey, Sutton to key roles on global, east region development teams

Prologis Inc. has announced two key promotions, appointing Travis Harvey as global head of development and Sheila Sutton as senior vice president and head of development management for its eastern region.

Industrial
NAI Hanson: Stone distributor buys Carlstadt warehouse in $9.1 million deal with Venture One

Venture One Real Estate has sold a more than 30,000-square-foot industrial building in Carlstadt for $9.1 million, brokers with NAI James E. Hanson announced Tuesday.

Retail
Lenaz joins RIPCO as vice president with Red Bank-based team

RIPCO Real Estate has welcomed longtime retail broker Bill Lenaz as a vice president based in its Red Bank office, the firm announced Tuesday.

Residential & Mixed Use
Weiss, Keller Williams ink $1.85 million sale of 10-unit townhome development site in Verona

A group led by Weiss Realty has sold a nearly one-acre development site in Verona, paving the way for it to become a 10-unit luxury townhome community.

Government & Public Policy
HMFA approves financing for special needs housing in Waldwick

Plans for a new supportive housing community in Waldwick are moving ahead with the help of more than $1 million from the New Jersey Housing Mortgage and Finance Agency.